Coinbase Bets Big on Bitcoin but Stumbles in Earnings—Is This the Turning Point Investors Can’t Ignore?
Coinbase stock falls after Q2 revenue drops 26%, even as firm ramps up Bitcoin buys.
Key Takeaways
- Coinbase stock fell 7% in after-hours trading as Q2 adjusted net income came in at just $33M, down from $524M in Q1.
- Coinbase bought $222M worth of Bitcoin during the quarter, bringing its crypto investment portfolio to $1.8B.
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