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From the heart of where innovation, money and power collide,

in Silicon Valley and beyond, this is Bloomberg Technology

with Emily Chang. I'm Emily Chang in San Francisco and this is Bloomberg Technology coming up in the next hour.

A big miss for coin base on revenue and earnings total assets plunging by 63%.

My conversation with Coinbase President and C.O.

Emily Choi right after the numbers crossed this hour. Plus timing is everything just as the U.S. signs the Chips Act into law to make more chips.

There are signs chip demand is on the brink of a major slowdown.

We'll discuss. And would you rather subscribe? the rental company that allows customers to reserve their own Tesla in just minutes.

We will get to all of that in a moment, but first I want to stick with coin base and bring in

Bloomberg Shannale Basik.

Shannale, let's walk through the top line numbers, miss on revenue, miss on earnings, they narrowed their

user forecast and what I thought was really interesting is the assets on the

platform plunged by more than 63 percent. I mean that seems pretty significant.

Yeah that drop-off in assets that drop-off you saw in monthly

transacting users and that drop-off you saw in transaction revenue,

...