Coinbase Revenue Down 28% as Trading Volume Sinks Amid Brutal Bear Market

[Google News Bot]

Coinbase reported net revenue of $576 million for the third quarter on Thursday, down 28% from $803 million the previous quarter. Transaction revenue fell 44% compared to the second quarter as fewer users were active on the crypto exchange, according to the company’s earnings report. It’s been a common refrain from exchanges as the global market capitalization remains stuck at $1 trillion, down $2 trillion from what it was a year ago. Coinbase monthly transacting users dropped 5% and trading volumes fell 27% during the third quarter, which ended on September 30, according to the c ...

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