Cryptocurrencies
Coinbase Confounds Crypto Bulls After Results Miss Forecasts
- Selloff follows rally in the stock as Bitcoin hit record high
- Analysts say decline in shares could be buying opportunity
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Coinbase Global Inc. is making it difficult for advocates to remain focused on longer-term prospects after the largest U.S. cryptocurrency exchange presented a mixed message for a second consecutive quarter.
Share of Coinbase slumped 8% from a record high reached Tuesday. The decline was the largest one-day drop since the digital-asset exchange began trading as a public security in April.