Coinbase Q2 Revenue Drops 14% Q/Q; Circle Deal to Boost Reserve Income
COIN is trading near its 52-week low of $139.11 (4.2% above the low) on elevated volume (2.4× avg).
Summary
Coinbase's Q2 revenue fell 14% sequentially to $1.22B, with transaction revenue down 21% YoY and subscription/services down 12%. The company posted a $359.5M net loss, its third straight quarterly loss. A new deal with Circle redirects ~90% of USDC reserve income from Hyperliquid to Coinbase, adding roughly $190M annually with full impact expected in Q3. CEO Brian Armstrong says the Clarity Act is near approval, with lobbyists expecting progress by September. Prediction markets now see only a 5% chance of a Q2 EPS beat above $0.03, down from 50% ten days ago. The stock is trading near its 52-week low, down ~30% YTD.
At the time of this announcement, COIN was trading at $145.00 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $38.5B. The 52-week trading range was $139.11 to $402.16. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Wiseek News.