Coinbase Posts Third Consecutive Quarterly Loss Amid Market Decline

Coinbase reported its third consecutive quarterly loss in Q2, with net losses of $359.8 million. Revenue declined by 13.2% from Q1 to $1.22 billion and was down 18.5% compared to the same period last year.

The decline in revenue is attributed to a decrease in monthly transacting users (MTUs) to 7.6 million, a drop from 8.2 million in Q1 and 8.7 million in Q225. Transaction volume was also down, with spot trading volume falling by 24% to $146.4 billion.

Coinbase's 'Subscription & Services' segment reported revenue of $555.2 million in Q2, a nearly 5% decline from Q1. However, the segment's share of Coinbase's overall revenue hit 48%, up seven points from Q1.