According to CoinMeta, Coinbase ( COIN ) saw its stock price fall by about 5% in after-hours trading on Thursday, as the company's second-quarter earnings failed to meet market expectations. The company reported revenue of $1.22 billion, which was lower than the market's forecast of $1.29 billion. Trading revenue was $599 million, below the expected $628 million. Subscription and service revenue amounted to $555 million, also falling short of the anticipated $599 million. Due to the decline in crypto prices, there was weakness in digital asset trading, and investors are paying less attention to Coinbase's efforts to reduce reliance on transaction fees. Analysts also noted new business updates, including derivatives, predictive markets, and Coinbase's Ethereum layer-two network Base.