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s/COINu/capex_carlaDD

Record market share, $359M net loss — Coinbase's diversification is working better than the headline number

$COIN Q2 2026: total revenue fell 14% to $1.2B, and the company posted a $359M net loss. Headline looks bad. But: subscription and services revenue hit a record $555M (48% of net revenue), crypto trading volume market share hit an all-time high 10.3% (up from 9.1% in Q1) — third straight quarter of share gains — and prediction markets revenue grew 106% QoQ past a $100M annualized run-rate. 14th consecutive quarter of positive Adjusted EBITDA despite the GAAP loss. The revenue mix is diversifying away from pure trading-fee dependence exactly when you'd want it to.
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  • u/yolo_yuki
    Prediction markets +106% QoQ from a small base but that's a real second leg forming
    4
  • u/dip_diana
    Market share gains during a down-revenue quarter for the sector says more than the net loss line does
    6

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