Bitcoin News Thebittimes.Com

The company beat estimates while non-trading revenue beat trading revenue. New York-based crypto exchange Coinbase reported revenue in the amount of $708 million in the second quarter of 2023, despite the regulatory issues it's faced in recent months, boosted by a custody deal with Blackrock and institutional focus . The exchange said Q2 net revenue reached $663 million, down 10% versus the same period last year, yet beating early estimates on its growing market dominance in the United States as competitors such as Binance are bogged down by regulatory trouble. The crypto exchange’s impressive performance was also attributed to the strong crypto price cycle last quarter where the likes of Bitcoin and other altcoins posted new yearly highs. Early estimate s from the Zacks Consensus Estimate put crypto exchange’s earnings at $643.4 million, a 20.4% decline from the past year during the same time. Another report from Messari suggested that  for the first time, Coinbase's non-...

Senior Coinbase executives, including CEO Brian Armstrong, have been selling their shares amid the stock’s growth over the past month. Despite the Coinbase cryptocurrency exchange facing a securities violation lawsuit in the United States, the company’s stock has been on the rise recently. Coinbase stock has added more than 50% to its value since the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against the firm for allegedly offering unregistered securities. According to data from TradingView, Coinbase shares surged 51%, from around $52 on June 6 to $78.7 on July 7. The stock is also up around 133% over the past six months, while year-to-year growth is roughly 50%. Coinbase 30-day price chart. Source: TradingView Amid significant growth, some major Coinbase stockholders have continued selling some of their shares . On July 6, a number of senior Coinbase executives, including CEO Brian Armstrong, sold a combined total of 88,058 shares worth about $6.9 million. Accor...