Coinbase reported $1.5 billion in second-quarter revenue, falling 26% from the prior quarter and missing the Street estimate of $1.69 billion, according to Benzinga Pro. Transaction revenue fell 39%, while subscription and services revenue declined 6%. Quarterly trading volume dropped 40%. The crypto platform highlighted growing USDC adoption, Base Chain expansion, the Base APP open beta with over 700,000 waitlisted users, and new cryptocurrency legislation, including the GENIUS Act. Coinbase said new legislation offers clear regulation for stablecoins and digital assets, creating growth opportunities and strengthening U.S. leadership in digital finance. The company expects third-quarter subscription and services revenue between $665 million and $745 million, driven by higher crypto prices and stablecoin revenue.
