Coinbase’s Loss Narrows, Revenue Rises More Than Forecast
- Trading volume declined to $76 billion as volatility dropped
- Spot Bitcoin ETFs could grow the market, Coinbase CFO said
Revenue increased 14% to $674 million, compared with a forecast of $654.7 million by analysts surveyed by Bloomberg.
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Coinbase Global Inc.’s third-quarter loss narrowed and revenue increased more than forecast as the largest US crypto exchange sought to weather an industrywide decline in trading activity.
Revenue increased 14% to $674 million, compared with a forecast of $654.7 million by analysts surveyed by Bloomberg. Trading volume was $76 billion, lower than a forecast of $80.4 billion. It was $92 billion in the second quarter. The net loss narrowed to $2.3 million from $545 million in the year-ago period, the exchange said in a shareholder letter Thursday.