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Coinbase Reports 63 Percent Drop in Revenue Amid Industry Slump

Coinbase Reports 63 Percent Drop in Revenue Amid Industry Slump

When the cryptocurrency exchange Coinbase went public in April 2021, it was a triumphant moment for the nascent crypto industry.

But the company has endured a grim 2022, grappling with a crypto market crash that has tanked its stock price and forced it to lay off hundreds of employees.

Those struggles continued on Tuesday when Coinbase reported a 63 percent decline in revenue in the second quarter and swung to a $1.1 billion loss from a year…


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