Crypto Stocks Plunge After Disappointing Q2 Earnings

Crypto stocks Coinbase (NASDAQ: COIN) and MicroStrategy (NASDAQ: MSTR) reported their earnings for Q2 2026 on July 30, revealing a net loss due to declining crypto prices and weak trading volumes.

Coinbase reported a loss per share of $1.36 and a net loss of $359.5 million, while revenue came in at $1.2 billion, below the expected $1.3 billion. Transaction revenues dropped 21% compared to Q1 2026, reaching $599.2 million.

MicroStrategy reported a net loss of $8.22 billion due to an $8.33 billion unrealized loss on its Bitcoin holdings. The company's earnings per share came in at -24.45, below the expected $0.79.

The earnings results led to a drop in stock prices for both companies, with COIN falling 10% and MSTR dropping 4.56%. Coinbase's price dropped to its lowest since July 1, while MicroStrategy fell below key EMAs.