Coinbase Global reported a third consecutive quarterly loss on Thursday, driven by a sharp contraction in transaction revenue as prolonged weakness in cryptocurrency markets suppressed trading activity.
The results highlight the persistent headwinds facing digital-asset exchanges, which rely heavily on volatile trading volumes for profitability.
With crypto markets showing little sign of recovery, the company’s earnings trajectory remains under pressure.
Shares of Coinbase fell in the session, extending losses for the stock as investors digested the disappointing financials.
The decline comes amid broader selling in US technology stocks, reflecting growing risk aversion across growth-oriented sectors.
The cryptocurrency market itself remained subdued, with Bitcoin, Ethereum, Solana, and XRP all trading lower in a quiet session.