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Coinbase Slides as Hot Jobs Report Dents Crypto Rally

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Sig1.73Sen+0.93Env0.00Soc0.00Gov0.00

Coinbase stock closed at $192.70 after a hot jobs report and shifting rate expectations. The BLS revision and rate-debate volatility boosted crypto and risk assets earlier, while Coinbase’s filing showed most Q2 net revenue came from non–Bitcoin spot trading, prediction-market activity more than doubled, and transaction revenue totaled $599.2 million. Stablecoin revenue fell, reflecting lower average interest rates.

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