Coinbase Global Inc. shares fell nearly 12% in postmarket trading after the biggest U.S. cryptocurrency exchange reported third-quarter results that missed Wall Street’s estimates.
Coinbase, which blamed market turbulence and lower prices in a part of the third quarter, posted revenue of $1.24 billion, lower than the $1.57 billion forecast by analysts.
Coinbase said monthly transacting users on its platform reached 7.4 million, down from 8.8 million in the second quarter. Its verified users grew to 73 million.
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