[Market Pulse] ๐จ Coinbase Stock Crashes After Weak Q2 Earnings
Coinbase shares plummeted 15%, wiping out nearly $14B in market value, after posing a sharp drop in Q2 profits. Adjusted net income came in at just $33.2M, down from $294.4M in Q2 last year.
The plunge reflects slowing retail trading activity and investor concerns over lofty valuations amid broader market uncertainty.
๐ Key Points:
โ Revenue from trading volumes slumped significantly
โ Profit fell by over 88% YoY
โ Market re-evaluating crypto exchange growth assumptions
๐ฌ Is the Coinbase sell-off an overreaction or a signal of tougher times ahead for CEXs?
๐ Share your take in the comments!
