NEW YORK, Aug 11 — US cryptocurrency exchange Coinbase Global Inc yesterday beat market estimates for second-quarter profit boosted by a near 38 per cent jump in trading volumes on a sequential basis, but forecast a drop in current-quarter volumes.
Chief Financial Officer Alesia Haas said Coinbase is paying close attention to the US Securities and Exchange Commission Chair Gary Gensler’s comments, who called on Congress last week seeking more authority to better police cryptocurrency trading, lending and platforms. The exchange also plans to grow the number of assets listed on its platform, with Chief Executive Officer Brian Armstrong stating that he wants Coinbase to be the “Amazon of assets” and list every legal crypto asset on its platform.
However, for the third quarter, it expects trading volumes to be lower than the second quarter, as August month-to-date volumes have improved compared to July, but remain lower than what was seen earlier in the year.