How Coinbase Shares Reacted to Q2 Earnings

The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 100 million users worldwide. Let's take a look at the chart of the day. Coinbase recently reported a $36 million profit in Q two substantially down from the $1.2 billion registered in Q one according to kio data. While revenues exceeded market expectations, they were lower than estimated and retail volume declined faster than institutional volume. The results sent the price of coin down 16% for the week. The research firm said the exchange drives most of its revenue from tail transaction fees and alt coins and is facing growing competition from cheaper ETF offerings and platforms like Robin Hood in attracting new retail users. That's it for today's chart of the day. I'm Jen Sani. We'll see you next time to unpack more of the data behind top news stories.