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Coinbase posts record profit as crypto prices rise
Coinbase just posted a massive Q2 profit of $1.43 billion ($5.14 per share)—way up from last year's $36 million (just 14 cents per share).
The big win came mostly from its subscription and services business, which grew nearly 10% to $655.8 million and helped balance out a dip in trading revenue.
Adapting to the market
Even though crypto prices went up, everyday trading stayed sluggish since investors are still wary about market rules and volatility.
That meant transaction revenue slipped by 2% to $764.3 million.
But Coinbase made up ground with smart moves—like gains from their investment in stablecoin company Circle and other crypto assets—showing they can adapt when the market gets tricky and aren't just relying on trading fees anymore.