Trading
Coinbase falls short on revenue as trading volumes slump 30%
Published by maria gbaf
Posted on November 10, 2021
1 min readLast updated: January 28, 2026
Global Banking & Finance Review®
Company
Published by maria gbaf
Posted on November 10, 2021
1 min readLast updated: January 28, 2026
Coinbase's Q3 trading volumes fell 30%, leading to a revenue drop to $1.31 billion. Bitcoin's trading share also decreased, impacting market performance.
(Reuters) – U.S. cryptocurrency exchange Coinbase Global Inc on Tuesday reported a nearly 30% fall in third-quarter trading volumes on a sequential basis, hit by lower volatility and declining prices for bitcoin and other cryptocurrencies.
Trading volumes fell to $327 billion in the quarter from $462 billion in the second. Of this, bitcoin comprised 19%, down from 24% last quarter.
The company’s shares tumbled 13% in trading after the bell.
Total revenue fell to $1.31 billion from $2.23 billion in the prior quarter, also missing estimates of $1.57 billion.
Crypto exchanges have benefited from the mainstreaming of digital assets, with businesses across the globe investing heavily into growing their crypto infrastructure.
However, calls for more oversight on crypto trading and products triggered a punishing slide in bitcoin prices earlier this year.
Net income attributable to common shareholders of $405.34 million, or $1.62 per share. Analysts had expected a profit of $1.57 per share, according to IBES data from Refinitiv.
(Reporting by Sohini Podder in Bengaluru; Editing by Sriraj Kalluvila)
The article discusses Coinbase's Q3 financial performance, highlighting a 30% drop in trading volumes and its impact on revenue.
Coinbase's revenue fell due to a significant drop in trading volumes, influenced by lower volatility and declining cryptocurrency prices.
Following the report, Coinbase's shares tumbled 13% in after-hours trading.
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