PANews reported on August 2 that according to The Block, Coinbase's latest financial report showed that the company's total revenue in the second quarter of this year was US$1.45 billion, a decrease of 11% from the previous quarter. The decline in total revenue was partly due to a decline in trading revenue. Coinbase's trading revenue in the second quarter was US$665 million, a decrease of 29% from US$1.07 billion in the first quarter. Solana accounted for 10% of Coinbase's total trading revenue. However, the exchange's stablecoin revenue increased from US$197.3 million in the previous quarter to US$240.4 million. Coinbase's adjusted EBITDA was US$596 million, a sharp drop from US$1.01 billion in the previous quarter. Net profit also fell from nearly US$1.2 billion in the first quarter to US$36 million.
