July 30 : Cryptocurrency exchange Coinbase Global on Thursday recorded a third consecutive quarter of losses, hurt by lower transaction revenue as a prolonged downturn in crypto markets curbed trading activity.

Shares of the crypto exchange were down 4.9 per cent in trading after the bell.

Cryptocurrency markets came under pressure during the April-to-June quarter as investors shunned riskier assets amid uncertainty over U.S. interest rates, geopolitical tensions and persistent outflows from crypto investment products.

The weakness extended a retreat from record highs reached in October.

Coinbase’s transaction revenue dropped 21 per cent to $599 billion during the quarter, from $764 million a year earlier.

The company reported a loss of…