Coinbase retail revenue falls 31% as institutional business grows 65%
- —Consumer transaction revenue: $451.7 million, down 31% year over year
- —Institutional revenue: $100.1 million, up 65% but still a third of retail
- —Q2 revenue $1.22 billion versus $1.5 billion a year earlier
- —Net loss of $359.5 million; trailing 12-month operating margin -37.56%
Why it matters: Coinbase's pivot to institutions and stablecoins has yet to offset the slump in retail trading, keeping pressure on the exchange's top line.
Source: DiarioBitcoin