Coinbase Global (COIN) stock tumbled early Friday after the company posted a wider-than-expected second quarter net loss on Thursday, marking its third quarter in the red since the crypto market began to drawdown from its October highs. 

The company reported a net loss of $359 million, or $1.36 per share. That compared to a profit of $1.43 billion, or $5.14, in the year-ago period. Analysts anticipated a net loss of $0.44 per share.

Coinbase’s stock was down 5% early Friday. Since the beginning of the year, it has lost 27%.

Beyond the effect of falling crypto prices on Coinbase’s investment holdings, its core revenue streams also weakened. Net revenue fell 17% from a year ago to $1.15 billion….