Coinbase Reports $359 Million Q2 Loss Amid Crypto Trading Slump

Coinbase, one of the largest cryptocurrency exchanges, reported a net loss of $359 million for the second quarter of 2026.

The exchange's total revenue fell to $1.22 billion, down 19% from the same period last year and 14% from the previous quarter.

Crypto spot trading volume dropped 24% quarter over quarter to $146.4 billion, although Coinbase managed to increase its share of total crypto spot trading volume to a record 10.3%.

The average amount of USDC held across Coinbase products reached $20 billion.