Coinbase Global, Inc. (NASDAQ:COIN) Q4 2022 Earnings Call Transcript

Pete Christiansen : That’s helpful. And then finally, Brian, I would love to hear your take on kind of like the pulse right now at the company. Now on your second restructuring, obviously, there’s just been a lot of volatility all around. Just wondering if you could comment basically on the pulse of your people there, perhaps the sense of how employee engagement is faring under these conditions?

Brian Armstrong : Yeah, I can touch on that just briefly. I think actually, overall engagement is pretty good. We have a lot of people who are really just passionate about the mission. And they want to see this happen in the world. And so some of them have been through crypto cycles before. I mean this is the fourth one I’ve been through, but many of the people at the company have gone through crypto cycles before. They’re relatively unfazed by it. It’s only people who maybe it was their first time going through something like this, it’s a little scary. But they’ve seen when people were irrational exuberance and when people had to share about Coin the past and they’ve kept building. And I think what people ended up realizing was that actually in the down cycle, it’s sometimes better, you come to appreciate the down cycles.

Because there’s less noise, all the people who are in it for the wrong reason to kind of wash out and the people who are true builders in the space kind of have some time to get some real work done. So a lot of the best innovation actually happens in down markets.

Pete Christiansen : That’s helpful. Thank you.

Anil Gupta : Okay. Well, we’re out of time for today’s call. So thank you for joining us, and we look forward to speaking to you again on our next call.

Operator: Thank you. This concludes today’s call. You may now disconnect.