--- title: Brace yourselves, crypto winter is coming - The Hustle description: Coinbase stock is down ~60% in the last 5 days. image: https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/1769690352-HS-News-Brief_2022-05-11T224513.840Z.webp --- # Brace yourselves, crypto winter is coming ![Jacob Cohen](https://thehustle.co/wp-content/uploads/2021/01/IMG_5670-1-modified-768x768.png?width=48&height=48&name=IMG_5670-1-modified-768x768.png) [Jacob Cohen](https://hs-sbup.thehustle.co/author/jacob-cohen) [Jacob Cohen Twitter profile ](https://twitter.com/ImJacobCohen) Published: May 12, 2022 Updated: October 11, 2023 On Tuesday’s [earnings call](https://s27.q4cdn.com/397450999/files/doc_financials/2022/q1/Coinbase-Q1'22-Earnings-Call-Transcript.pdf), Coinbase CEO Brian Armstrong said, “Ironically… I’ve never been more bullish on where we are as a company.” ![Brace yourselves, crypto winter is coming](https://hs-sbup.thehustle.co/hs-fs/hubfs/The%20Hustle%20News/Assets/Images/1769690352-HS-News-Brief_2022-05-11T224513.840Z.webp?width=595&height=400&name=1769690352-HS-News-Brief_2022-05-11T224513.840Z.webp) Coinbase stock also happens to be down ~60% in the last 5 days. #### **So what’s the deal?** - Generally, the crypto markets are feeling an extra icy-hot burn amid a broader market sell-off. - As such, monthly transacting Coinbase users have [fallen](https://d18rn0p25nwr6d.cloudfront.net/CIK-0001679788/89c60d81-41a2-4a3c-86fb-b4067ab1016c.pdf) 51%** **to 6.1m quarter-over-quarter. Armstrong admitted he’s anticipating a so-called “crypto winter” and plans on making use of his **$7B** balance sheet to get through it — by hiring talent and acquiring companies. **BTW: **This might be a good time to bring back the “Liquidated” [parody remix](https://www.youtube.com/watch?v=QvZ7K_0_SiY) to Avril Lavigne’s “Complicated.” Topics: [Cryptocurrency](https://blog.hubspot.com/marketing/cryptocurrency) Topics: [Cryptocurrency](https://hs-sbup.thehustle.co/tag/cryptocurrency) ## Follow us on social media prev next - ![How do we not know who Satoshi Nakamoto is?](https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/254575623-httpsthdaily.s3.us-west-1.amazonaws.comfinal_size-satoshi_20230705231801.webp) ### How do we not know who Satoshi Nakamoto is? - ![Thailand is betting on crypto to spur tourism](https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/1945728039-News-Brief_2021-12-01T021436.364Z-1024x802.webp) ### Thailand is betting on crypto to spur tourism - ![Wash trading and crypto, explained](https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/396502987-HS-News-Brief_2023-02-14T013317.765Z.webp) ### Wash trading and crypto, explained - ![FTX’s wild start to the week, explained](https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/1790528552-HS-News-Brief_2022-12-14T010919.228Z.webp) ### FTX’s wild start to the week, explained - ![Digits: Jordan, Ferrari, and Yellen](https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/1558970479-HS-News-Brief_2022-09-18T225913.540Z.webp) ### Digits: Jordan, Ferrari, and Yellen - ![Digits: Jordan, Ferrari, and Yellen](https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/1558970479-HS-News-Brief_2022-09-18T225913.540Z.webp) ### Digits: Jordan, Ferrari, and Yellen - ![Why do people buy NFTs?](https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/2117651270-HS-News-Brief_2022-07-07T043926.149Z.webp) ### Why do people buy NFTs? - ![Digits: The CIA’s gym, anonymous donors, and more](https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/2027526157-HS-News-Brief_2022-06-26T232529.058Z-1024x684.webp) ### Digits: The CIA’s gym, anonymous donors, and more - ![Coinbase is feeling the chill of crypto winter](https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/1991649465-HS-News-Brief_2022-06-09T003737.030Z.webp) ### Coinbase is feeling the chill of crypto winter - ![Digits: Harry Styles, Formula 1 inflation, and more](https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/1458778000-HS-News-Brief_2022-06-05T213424.088Z.webp) ### Digits: Harry Styles, Formula 1 inflation, and more Pop up for Subscribe to The Hustle Daily Newsletter Subscribe to The Hustle Daily Newsletter Get the 5-minute news brief keeping 2.5M+ innovators in the loop. 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Signup for a free account Close modal ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Jacob Cohen", "url" : "https://hs-sbup.thehustle.co/news/author/jacob-cohen" }, "datePublished" : "2022-05-12T05:47:38.000Z", "headline" : "Brace yourselves, crypto winter is coming", "image" : [ "https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/1769690352-HS-News-Brief_2022-05-11T224513.840Z.webp" ], "mainEntityOfPage" : { "@id" : "https://hs-sbup.thehustle.co/news/05122022-crypto-prices", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject" } } } ``` ```json { "@context" : "https://schema.org", "@id" : "#article", "@type" : "NewsArticle", "author" : { "@type" : "Person", "name" : "Jacob Cohen", "url" : "https://hs-sbup.thehustle.co/author/jacob-cohen" }, "dateModified" : "2023-10-11T20:05:30+0000", "datePublished" : "2022-05-12T05:47:38+0000", "headline" : "Brace yourselves, crypto winter is coming", "image" : [ "https://7355427.fs1.hubspotusercontent-na1.net/hubfs/7355427/The%20Hustle%20News/Assets/Images/1769690352-HS-News-Brief_2022-05-11T224513.840Z.webp" ], "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "height" : 112, "url" : "https://fs.hubspotusercontent00.net/hubfs/53/assets/hubspot.com/web-team/WBZ/Blog%202021/Images/Logos/HubSpot%20Logo%20112X112.svg", "width" : 112 }, "name" : "HubSpot", "sameAs" : [ "https://www.facebook.com/hubspot", "https://twitter.com/hubspot" ], "url" : "https://www.hubspot.com" }, "speakable" : { "@type" : "SpeakableSpecification", "xPath" : [ "//title", "/html/head/meta[@name='description']/@content" ] } } ```