Coinbase shares down 30% this year despite payments expansion
- —COIN lost 17% over 30 days and 30.5% year-to-date
- —The Thunes partnership covers 140+ countries and 90+ currencies
- —Q2 revenue fell to $1.15B from $1.4B a year earlier
- —Subscriptions and services reached 48% of revenue; average USDC balance hit $20B
Why it matters: COIN's slide despite payments growth signals investors want monetization, not just expansion, making the stock a gauge of crypto infrastructure demand.
Source: Blockmedia