Coinbase Global Inc. reported a surprisingly large second consecutive quarter of losses, driven by the crypto market’s spring meltdown.
Coinbase lost $1.1 billion, or $4.98 a share, in the second quarter, the company said Tuesday, compared with a profit of $1.6 billion, or $6.42 a share, a year ago. Revenue fell to $808 million from $2.2 billion a year ago.