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Coinbase had a down second quarter from a revenue perspective, but remains undeterred in ultimately trying to bring every asset class onchain. 

First, some numbers.

The company’s total revenue of $1.5 billion in Q2 was 26% lower than the prior quarter. Transaction revenue took the biggest hit, dropping 39% quarter over quarter to $764 million amid lower volatility. Subscription and services revenue fell 6% to $656 million.

Worth noting: Competitor Robinhood also saw April-June transaction revenue plummet — dropping 36% to $160 million.

COIN shares were trading around $318 in…

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