In brief
- Coinbase reported $1.22 billion in second-quarter revenue, and a net loss of $359 million, against an expected $1.29 billion in earnings.
- Subscription and services revenue totaled $555 million, or 48% of net revenue.
- Coinbase said its crypto trading market share reached a record 10.3% during the quarter.
Coinbase reported $1.22 billion in second-quarter revenue on Thursday, down 14% from the previous quarter, and a net loss of $359 million.
Coinbase shares fell sharply in after-hours trading, losing roughly 5% of its stock price, after missing on earnings estimates for the quarter. The company was expected to bring in $1.29 billion in Q2.
According to Coinbase, total crypto spot trading volume declined more than 20% from the…
