COINBASE Q2 EARNINGS RESULTS

Summary from the TLDR Crypto newsletter

Coinbase reported $1.5 billion in Q2 revenue, up from $1.45 billion a year ago but below the $1.59 billion analysts expected, and saw adjusted EBITDA fall to $512 million from $596 million. Transaction revenue plunged 39% quarter-over-quarter to $764 million, despite Bitcoin and Ether hitting new yearly highs. The stock slid 7% in after-hours trading as waning trading volumes outpaced overall market strength. Coinbase highlighted progress in its institutional infrastructure, staking services, and Base network as strategic growth drivers beyond its core trading business.