Briefing
crypto

Coinbase Narrows Loss After Cost Cutting

By
Aidan Ryan
· · Source: The Information

Coinbase’s revenue fell 12% to $708 million in the second quarter as crypto trading remained sluggish. Trading revenue was down 50% versus the same period a year earlier, though interest income from Coinbase’s partnership with stablecoin issuer Circle helped cushion the overall revenue decline. Aggressive cost cutting, which included layoffs that cut headcount by 30%, helped the crypto...

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