According to CoinMeta, Wu said that in the second quarter of 2026, Coinbase had total revenue of $1.22 billion, a year-on-year decrease of 19% and a quarter-on-quarter decrease of 14%. Transaction revenue was $599 million, a quarter-on-quarter decrease of 21%. The company incurred a net loss of $359 million, and after adjustments, EBITDA was $208 million. Although the volume of crypto spot trading decreased by 24% to $146.4 billion quarter-on-quarter, Coinbase's market share in crypto trading still rose from 9.1% to 10.3%, marking a new historical high for the third consecutive quarter.