does coinbase report losses to irs

Coinbase, the largest cryptocurrency exchange platform in the world, has reported losses to the Internal Revenue Service (IRS). The losses, which are likely to be around $500 million, were primarily due to a misstep in the company's accounting system that led to the leakage of customer data. The leakage of personal information was discovered in the middle of 2019, and the company did not take adequate action to protect the information until late 2019. This breach has led to a loss of trust in the company and its reputation, which has contributed to the company's losses.