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"A company spent ~$65M on Datadog in 2022 then churned in spend, we learned on Datadog's Q1 earnings. Datadog didn't name the company, but Turner Novak speculated this must be Coinbase. 

Here's the full story of what happened: https://blog.pragmaticengineer.com/datadog-65m-year-customer-mystery/"

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  "On an earnings call a week ago, on 4 May, the CFO mentioned a “large upfront bill that did not recur,” saying:
  
  “Billings were $511 million, up 15% year-over-year. We had a large upfront bill for a client in Q1 2022 that did not recur at the same level or timing in Q1 2023. Pro forma for this client, billings growth was in the low 30s percent year-over-year.”
  
  If you’re like me, you’d probably skim over this detail, as it’s 15% here, 30% there. However, analysts attend these calls whose bread and butter is crunching the numbers and figuring out what a company might be trying to hide. A JP Morgan stock analyst did just this, quickly crunching numbers and asking the question:
  
  “David, looking at the math on this large upfront bill that did not recur, it seems to be about $65 million, if I'm running that correctly. Can you possibly shed a little more light?“
  
  Datadog’s CFO, David Obstler gave more details:
  
  “That was a crypto company which continues to be a customer of ours. But that was "

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