Coinbase Bets Big on Bitcoin but Stumbles in Earnings—Is This the Turning Point Investors Can’t Ignore?
Despite the earnings miss, Coinbase continued to expand its Bitcoin holdings, adding $222 million worth of BTC during Q2 through weekly purchases. The crypto investment portfolio now sits at $1.8 billion in fair market value.
For Q3, Coinbase projects July transaction revenue of $360 million and expects subscription and services revenue to land between $665 million and $745 million, supported by higher crypto prices and record USDC market cap.
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