Cryptocurrency Live News & Updates : Coinbase Shares Drop 7% Following Q2 Earnings Miss
Coinbase reported $1.5 billion in Q2 revenue, missing estimates, with adjusted Ebitda down to $512 million as trading activity declined despite rising crypto prices. Coinbase's disappointing Q2 results have led to a 7% drop in its stock, as the crypto exchange reported $1.5 billion in revenue, falling short of expectations. In contrast, Strategy (MSTR) reported a significant profit of $14 billion, driven by a 30% rise in Bitcoin prices, showcasing the contrasting fortunes in the crypto market. Meanwhile, Ethereum's Justin Drake has proposed a new roadmap, 'Lean Ethereum,' aimed at enhancing the network's security against potential quantum threats. Additionally, Figma's IPO saw its shares soar 198%, with the company holding $70 million in a Bitcoin ETF and planning further investments in Bitcoin. Lastly, SEC Chairman Paul Atkins announced 'Project Crypto,' which aims to clarify regulations around crypto assets, asserting that most are not securities, marking a shift from previous SEC positions. This wave of developments highlights the dynamic nature of the cryptocurrency landscape, with companies adapting to market conditions and regulatory changes. Show more
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