Coinbase released its second quarter earnings for 2023 — and the report shows a crypto contraction.
Consumer and institutional trading volume were both significantly down on the platform compared to last year.
A prolonged Crypto Winter, plus an SEC lawsuit, could mean trouble for the industry.
Coinbase, the world's second-largest cryptocurrency exchange in terms of volume, released its second quarter earnings report on Thursday — and the results are less than favorable for crypto enthusiasts.
Transaction volume for consumers and institutions is down 70% and 54%, respectively, when compared to the second quarter of 2022.
