News View Non-AMP

CoinShares Loses $21.7M In Q2 Earnings, Terra Crisis To Blame

Published by
Sohrab Khawas

Coinshares joins the list of crypto firms that have had to bear the negative impact of the Terra crash. 

Yesterday, August 2nd, the European-based cryptocurrency investment firm,  disclosed its Q2 earnings for 2022. As per the reports, the firm’s income has dropped from 19.6 million pounds ($23.89 million) to 14.2 million pounds ($17.31 million). Additionally, the total earnings declined from Q1’s 26.6 million pounds (32.42 million) to 0.1 million pounds ($0.12 million).

CoinShares reveals that these losses were primarily associated with the Terra (LUNA), now known as Terra Classic (LUNC), crisis in May 2022. The firm further claims that the de-pegging of Terra (LUNA) brought a loss of 17.7 million pounds to the Capital market business.

CoinShares never held any position directly with any company. However, one of the firm’s books was connected with TerraUSD stablecoin, resulting in huge losses.

CoinShares’s CEO, Jean-Marie Mognetti, expressed his positive thoughts regarding the firm’s upcoming functionality. The CEO claims that the firm has enough funds to move the markets at the time of volatility and says it’s all possible because of strategy, balance sheet, and a unique team.

While talking about future plans, the firm claims that they are planning to get listed in the Nasdaq Stockholm Main Market, but this can happen only after acquiring Alternative Investment fund Manager licenseIn Q2, CoinShares introduced five physical commodities: CoinShares Physical FTX Token, CoinShares Physical Chainlink, CoinShares Physical uniswap , CoinShares Physical Staked Polygon, and CoinShares Physical Staked cosmos . The firm has gained 220.8 million pounds ($269.15 million) as a total asset in Q2 as well. 

While discussing the future, the firm claims they plan to get listed in the Nasdaq Stockholm Main Market, but this can happen only after acquiring an Alternative Investment fund Manager license.

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Recent Posts

XRP Price Prediction For May 23

The cryptocurrency market has been quite active lately, but XRP’s price hasn’t moved as much…

May 23, 2025

Sui Price Forecast: What Next After the $223M Cetus Protocol Exploit?

Most of the impacted Sui-based tokens in the Cetus Protocol attack dropped over 30 percent…

May 23, 2025

U.S. SEC Delays Decision-Making on More Crypto ETFs Led by XRP and Litecoin

The U.S. SEC has been collecting legal views on the already filed spot crypto ETFs…

May 23, 2025

Wordcoin (WLD) Price Forecast: Bullish Breakout Confirmed After a $135M Fundraise

The World App has grown to more than 26 million users from different countries in…

May 23, 2025

Strategy Announces Plan to Raise $2.1B to Strengthen Bitcoin Holdings: BTC Price Hits New ATH

Strategy faces a class action lawsuit from the U.S. SEC for allegedly misleading investors on…

May 23, 2025

Best Crypto to Buy Now Before Dogecoin Hits $1.25

Crypto analyst Kevin identifies Dogecoin as having "one of the nicest charts, if not the…

May 22, 2025