आईसीटी समाचार
Coinbase, a US cryptocurrency exchange, reported an almost 30% drop in third-quarter trading volumes on a sequential basis on Tuesday, owing to decreasing volatility and falling Bitcoin and other cryptocurrency values.
Trading volume declined to $327 billion in the third quarter, down from $462 billion the previous quarter. Bitcoin accounted for 19 percent of this, down from 24 percent the previous quarter. The company's stock dropped 13% after the bell in after-hours trading.
Total sales dropped to $1.31 billion from $2.23 billion the previous quarter, below analysts' expectations of $1.57 billion. The mainstreaming of digital assets has benefitted crypto exchanges, with corporations all around the world spending substantially in building their crypto infrastructure.
Calls for increased regulation of crypto trading and goods, on the other hand, sparked a precipitous drop in Bitcoin values early this year. A net income of $405.34 million, or $1.62 per share, was attributed to common stockholders. According to Refinitiv's IBES statistics, analysts predicted a profit of $1.57 per share.
