The cryptocurrency exchange said revenue fell 19% in the second quarter to $1.22 billion, missing analyst estimates. Shares fell in after-hours trading.
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The bitcoin treasury company reported a loss of $8.22 billion, or $24.45 a share, from a profit of $10.02 billion the year prior.
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The largest crypto exchange in the U.S. on Thursday posted a loss of $359 million, or $1.36 a share, compared with a profit of $1.4 billion, or $5.14 a share, a year earlier. The loss included a $209.5 million unrealized loss on the value of crypto assets held for investment. As part of its broader push to build an “everything exchange,” Coinbase has expanded into new financial products such as stock trading and prediction markets, which allow users to bet on yes-or-no questions about outcomes ranging from sports games to elections.

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Strategy posted an $8.22B Q2 loss as Bitcoin price fell, yet expanded holdings to 843,775 BTC while boosting reserves and cutting debt.
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Cryptocurrency exchange Coinbase Global on Thursday recorded a third consecutive quarter of losses, hurt by lower transaction revenue as a prolonged downturn in crypto markets curbed trading activity. Shares of the crypto exchange were down 4.9% in trading after the bell. Cryptocurrency markets came under pressure during the April-to-June quarter as investors shunned riskier assets amid uncertainty over U.S. interest rates, geopolitical tensions and persistent outflows from crypto investment products.
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