[DigitalToday reporter Chi-gyu Hwang] Coinbase shares fell more than 7 percent in after-hours trading on July 30 after the company posted a bigger-than-expected second-quarter loss. Both revenue and profit missed Wall Street estimates, falling short of expectations for a third straight quarter.

Coinbase posted a net loss of $359.5 million, or $1.36 per share, for the second quarter ended June 30. It recorded net profit of $1.43 billion, or $5.14 per share, a year earlier. Revenue fell to $1.2 billion from $1.5 billion a year earlier.

Net profit can change sharply depending on the valuation of cryptocurrencies held at the end of a quarter. Accounting rules require large cryptocurrency holdings to be reflected at end-of-quarter prices, which can widen swings in results even if assets are not sold.

Market conditions in the second quarter were also weak. Bitcoin prices largely stayed in a range, and fund flows into bitcoin ETFs shifted into a phase of persistent net outflows. High interest rates and overall market volatility also weighed on risk-asset investment sentiment.

By business line, subscription revenue came to $555 million and transaction revenue totalled $599 million. A larger share of subscription revenue was a positive signal for revenue diversification, but both segments fell short of market expectations and the year-earlier results.

Stablecoin revenue also came to $292 million, down $17 million from the second quarter of 2025. Chief Executive Brian Armstrong (브라이언 암스트롱) said in an earnings statement that Coinbase's cryptocurrency trading market share again hit an all-time high.