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Coinbase Third-Quarter Revenue Misses Estimates; Shares Fall: Analysts

Author: Content Editor
Crypto exchange Coinbase reported lower-than-expected net revenue for the third quarter, causing its stock to drop 2%. The revenue miss was driven by lower transaction revenues and a drop in subscription and services revenues. However, reduced operating expenses offset the revenue miss and contributed to a better figure for adjusted EBITDA. Retail trading volumes were higher than expected but were offset by a compression in the retail fee rate. Analysts believe that the upcoming U.S. presidential election may lead to a more favorable regulatory environment for Coinbase and the wider crypto market. Institutional interest in Coinbase is growing, and the company's product roadmap is expected to drive further mainstream adoption.

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