Coinbase's revenue in the second quarter of 2024 was $1.45 billion. However, profit decreased significantly

Transaction fee income fell 27% and trading volume fell 28%.

The company's net income fell to $36 million from nearly $1.2 billion in the first quarter.

The company's net income included a $319 million loss in the company's investment portfolio. Most of these losses were unrealized. These losses arose due to the decline in prices of cryptocurrencies by June 30.

It seems like Coinbase experienced a tough second quarter in 2024, with a significant decrease in profit mainly due to losses in the investment portfolio driven by the decline in cryptocurrency prices. Despite the challenges, the company's revenue remains strong at $1.45 billion.