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Crypto

Coinbase Shares Plummet Despite Record Prediction Market Growth

Guavy AI Editorial Team
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Coinbase's shares fell about 7% in after-hours trading on Thursday despite reporting strong growth in its prediction market segment and record trading market share.

The company said prediction market contracts and revenue more than doubled during the second quarter, growing 106% quarter over quarter and surpassing $100 million in annualized revenue.

Coinbase also captured a record 10.3% share of global crypto trading volume in the second quarter, up from 9.1% in the prior quarter, marking its third consecutive quarter of market share gains despite a slowdown in trading activity across the industry.

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