Coinbase Global reported losses for the third consecutive quarter due to a decline in trading volume due to the continued downturn in the cryptocurrency market. Affected by this, the digital asset exchange's stock price fell 5.3% in after-hours trading. In the April-June quarter, the cryptocurrency market was under pressure due to uncertainty about the outlook for US interest rates, geopolitical tension, and continued capital outflows from cryptocurrency investment products, which led investors to avoid riskier assets. This weak trend continues the downward trend since it hit a record high in October last year. Coinbase's transaction revenue for the quarter fell 21% to $599 million from $764 million in the same period last year.

Coinbase Global reported losses for the third consecutive quarter due to a decline in trading volume due to the continued downturn in the cryptocurrency market. Affected by this, the digital asset exchange's stock price fell 5.3% in after-hours trading. In the April-June quarter, the cryptocurrency market was under pressure due to uncertainty about the outlook for US interest rates, geopolitical tension, and continued capital outflows from cryptocurrency investment products, which led investors to avoid riskier assets. This weak trend continues the downward trend since it hit a record high in October last year. Coinbase's transaction revenue for the quarter fell 21% to $599 million from $764 million in the same period last year.