The crypto exchange’s net loss widened to $359 million as transaction revenue fell 21% quarter over quarter.
Coinbase posted Q2 2026 revenue of $1.22 billion, a 19% year-over-year decline and 14% drop from the prior quarter. Transaction revenue fell 21% to $599 million, while crypto spot trading volume slid 24% to $146.4 billion. The company’s net loss reached $359 million, with adjusted EBITDA at $208 million.
Despite the decline, Coinbase’s share of total crypto trading volume rose to a record 10.3%, up from 9.1%. Subscription and services revenue dipped 5% to $555 million, accounting for 48% of net revenue. Revenue outside BTC spot trading made up 88% of the total.
Prediction markets revenue surged 106% quarter over quarter, exceeding $100 million on an annualized basis. Average USDC holdings in Coinbase products hit $20 billion.