Coinbase Surges on Strong Quarterly Earnings and Strategic Partnerships
TL;DR
Coinbase reported a significant increase in second-quarter profit driven by a 9.5% rise in subscription and services revenue, despite a 2% decline in transaction revenue and sluggish retail trading volumes due to market uncertainty. The profit boost was mainly due to gains from investments in stablecoin issuer Circle and its crypto portfolio.
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- Coinbase quarterly profit jumps on subscription revenue boost Reuters
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