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Coinbase’s Stock Tumbles After Its Quarterly Report Shows Effects of Crypto Winter
Shares of Coinbase Global tumbled after second-quarter results missed Street estimates.Credit: Samuel Boivin / NurPhoto via Getty ImagesKey TakeawaysCoinbase shares plunged Friday, after the crypto exchange posted weaker-than-expected results for the second quarter. The company’s revenue of $1.22 billion missed Wall Street estimates, driven by a decline in crypto trading volumes.Shares of Coinbase Global (COIN) dropped about 10% in recent trading, extending their recent slide.The bruising came after America’s largest public crypto exchange posted second-quarter results that missed Wall Street…
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