Coinbase Q2 Revenue Drops as Market Softens, Subscription Gains Rise
In Q2, the total crypto market shrank as global spot trading volumes fell 25% and Bitcoin dropped double digits. Coinbase revenue declined 19% year over year to $1.22 billion and missed expectations, reflecting softer trading demand. The company expanded its share of global trading volume to over 10%, with nearly half of revenue from subscriptions and services generating $555 million.