Coinbase (COIN) Shares Slump After Big Q3 Earnings Miss on ‘Softer’ Market Condition

The crypto exchange primarily suffered from weaker market conditions, the firm said in a shareholder letter, noting that it saw growth in some areas. “Despite softer market conditions, we saw average native unit growth across staking, on-platform USDC, and custody, which helps diversify revenue over the long-run,” Coinbase said.