Coinbase Stock Sinks 12% on Q2 Revenue Miss

Coinbase shares plunged over 12% to $143.77 after the company reported weaker-than-expected second-quarter results, missing Wall Street's estimate of $1.29 billion in revenue.

The exchange recorded a net loss of approximately $359 million, with lower retail and institutional transaction revenue weighing on the result as digital asset trading slowed across key markets.

Coinbase's share of global crypto trading volume reached a record 10.3%, up from 9.1% during the first quarter, but derivatives activity remained close to the previous quarter's record.