Analysis of Coinbase's Q2'23 Earnings

IntelligenceAugust 9, 2023, 2:17PM EDT
UPDATED: August 9, 2023, 2:17PM EDT
Analysis of Coinbase's Q2'23 Earnings
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Coinbase's quarterly trading volume contracted (37%) QoQ and (58%) YoY. Retail volume fell (33%) QoQ and (70%) YoY. 

Net revenue contracted (10%) QoQ and (17%) YoY. Subscription and services revenue still reflects a +128% increase YoY compared to Q2'22, driven primarily by a +520% increase in interest income from $33mm in Q2'22. 

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