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Coinbase’s quarterly loss widens as trading volumes decline sharply

  • Coinbase Global Inc reported a larger-than-expected quarterly loss as investors worried by this year’s rout in risky assets shied away from trading in cryptocurrencies, sending its shares down 6% after the bell on Tuesday.
  • Trading volumes at the cryptocurrency exchange more than halved to $217 billion in the second quarter, with retail participation sinking 68% and institutional trading falling 46%.
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