Coinbase Q2 Earnings Miss Mark, Revenue Falls Short Amid Crypto Market Slump

Coinbase's second-quarter earnings report revealed revenue of $1.22 billion, down 14% from the previous quarter and missing Wall Street's forecast of $1.29 billion.

The company attributed the decline to weaker spot trading, volatility dropping to multi-year lows, and falling crypto prices.

Coinbase increased its share of global digital asset trading volume to a record 10.3%, the third straight quarter of all-time highs.

Net loss reached $359.5 million, but adjusted EBITDA remained positive at $207.8 million, marking the 14th consecutive quarter in positive territory.