Coinbase Stock Slips 12% After Weak Q2 Earnings

Coinbase shares faced heavy selling pressure on Friday, sliding more than 12 percent after the company reported a disappointing second quarter. The drop extended a post earnings slump as investors reacted to weaker trading revenue across the platform.

The major crypto exchange posted a quarterly loss of 359 million dollars, sparking fresh concerns about short term growth and trading volumes. Lower activity from retail and institutional users weighed heavily on the top line, missing analyst expectations.

Traders will now watch to see if market volumes recover in the upcoming quarters. Sustained low activity could put more pressure on the stock price while the exchange looks for new ways to grow its revenue.