Coinbase narrows loss while crypto trading volumes fall in Q3

Cryptocurrency exchange Coinbase narrowed its net loss to $2 million in the third quarter, as notched a year-on-year increase in revenue despite lower trading volumes.

The firm’s net loss in Q3 was trimmed from a $545 million net loss in the prior year period, according to a Nov. 2 earnings statement.

Total revenue increased 14.2% year-on-year to $674.1 million, though quarter-on-quarter revenue fell 4.8%. The figure beat London Stock Exchange Group’s estimate of $653.2 million, according to a report from Reuters.

Of the total revenue, $334.4 million came from subscription and services (mostly stablecoin and blockchain rewards), while $288.6 million came from transaction-based…

Read more on Cointelegraph

49.1K Reads