Coinbase earnings show the company is now much more than just an exchange By Cointelegraph

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Coinbase (NASDAQ:), a leading U.S. cryptocurrency exchange, shared its second-quarter results on Aug. 3. Despite showing a net loss, some positives emerged, like a 13% cut in operating expenses from the last quarter and a 3% boost in its cash reserves to $5.5 billion.

Coinbase key financial metrics, in millions of dollars. Source: Coinbase

However, the exchange took a hit with a $97 million net loss, worse than its previous quarter, and saw a 32% drop in its adjusted EBITDA to $194 million in Q2.

Coinbase share price (blue, right) vs. crypto total market cap (orange, left). Source: TradingView