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Coinbase Disappoints With User Forecast, Revenue Miss

  • Second-quarter revenue and trading volume miss estimates
  • Core retail users are sitting on the sideline, COO says
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Coinbase Loses $1.1 Billion in Second Quarter
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Coinbase Global Inc. posted a record $1.1 billion second-quarter loss and lower-than-expected revenue as the largest US cryptocurrency exchange was battered by tumbling digital-asset prices. 

Shares of the company, which were first listed last April, dropped about 6% in US premarket trading. Coinbase has slumped 65% so far this year amid what has been labeled as the latest “crypto winter.”