Coinbase reported a revenue decline in Q2, with total revenue falling 26% to $1.5 billion compared to the previous quarter. Transaction revenue particularly suffered, dropping 39% to $764 million due to lower market volatility. Despite these challenges, Coinbase's stablecoin revenue rose by 12% to $332 million, reflecting strong USDC balances. CEO Brian Armstrong highlighted customer demand for a comprehensive trading platform, referred to as the Everything Exchange, which aims to facilitate trading across multiple asset classes. To adapt to a changing regulatory landscape, Coinbase plans to integrate tokenized equities and decentralized exchanges into its services. Furthermore, the company anticipates a rebound in Q3 revenue with projections of $665–$745 million in subscription and services revenue, alongside $360 million in July transaction revenue, indicating a more favorable outlook moving forward.

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