Coinbase Falls After Reporting Q2 Loss Amid Record Market Share

Coinbase's shares fell in extended trading after reporting a second-quarter loss and lower revenue. The crypto exchange reported a quarterly loss of $1.36 per share, reversing earnings of $5.14 a year earlier.

The company's revenue fell to about $1.2 billion from $1.5 billion in the prior-year period. Despite this, Coinbase captured a record 10.3% of global crypto trading volume during the quarter.

The results contrasted with Coinbase's expanding presence in the global crypto market. Its share of worldwide crypto trading volume rose to a record 10.3%, while derivatives activity remained close to the record level reached during the previous quarter.