On the cost side, the company completed a 14% workforce reduction in May, bringing the employee count to 4,321 by quarter-end, and lowered its full-year adjusted expense guidance to $4.2 billion to $4.45 billion. Trading revenue for Q3 through July 26 reached approximately $130 million, with outlook still weighed down by weak cryptocurrency asset prices.
Coinbase Q2 Revenue Falls to $1.22 Billion Amid Crypto Market Decline
TechFlowShare
Summary
Coinbase's Q2 revenue declined to $1.22 billion as the crypto market continued to struggle. The company cut 14% of its workforce in May, reducing its employee count to 4,321. Full-year adjusted expenses are now projected at $4.2–4.45 billion. As of July 26, Q3 trading revenue stood at approximately $130 million, with altcoins underperforming in the broader crypto market.
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