July 30 : Coinbase Global posted a third straight quarterly loss on Thursday, hurt by lower trading volumes as a prolonged downturn in cryptocurrency markets curbed trading activity.

Shares of the crypto exchange were down 5.3 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 million during the quarter, from $764 million a year earlier.

“This deep and sluggish crypto winter has continued to put…