Coinbase Reports Third Consecutive Quarterly Loss

Coinbase's revenue for the second quarter of 2026 declined by 19% year-over-year to $1.22 billion. Transaction revenue decreased by 21%, while income from subscriptions and services fell by 12.2%. Despite the overall revenue decline, the company's share of trading volume in cryptocurrencies increased to 10.3%, and the volume of USDC stablecoin reached a record $20 billion. Following the release of the earnings report, Coinbase's stock price dropped more than 5%, reflecting ongoing market softness and the impact of low crypto prices on infrastructure companies. The continued losses underscore the challenging environment for crypto exchanges amid broader market downturns.