---
title: "Coinbase 2Q26: Weak Results, But Market Share Still Rising"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000830356.md"
description: "$Coinbase(COIN.US) Coinbase (COIN US) reported weaker-than-expected 2Q26 results.Net revenue fell 14% QoQ to US$1.15bn, while adjusted EBITDA dropped 31% QoQ to US$208mn, mainly due to softer crypto a..."
datetime: "2026-08-03T08:24:00.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000830356.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000830356.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000830356.md)
author: "[SG Visual Research](https://longbridge.com/en/profiles/24298178.md)"
generator: "portal-rs"
---

# Coinbase 2Q26: Weak Results, But Market Share Still Rising

$Coinbase(COIN.US)   
Coinbase (COIN US) reported weaker-than-expected 2Q26 results.

Net revenue fell 14% QoQ to US$1.15bn, while adjusted EBITDA dropped 31% QoQ to US$208mn, mainly due to softer crypto asset prices and trading activity.

But the report is not only about near-term pressure.

Coinbase continued to gain share in a weak market. Its trading market share reached 10.3% in 2Q26, up 3.2ppts YoY and 1.2ppts QoQ.

Everything Exchange also showed progress. Crypto derivatives volume was flat QoQ despite a 12% decline in overall market volume, while Prediction Markets revenue grew 106% QoQ, with annualized revenue above US$100mn.

CMB International maintained BUY, but lowered the target price from US$235 to US$205.

The key question: can Coinbase keep gaining share during a weak crypto cycle, while building earnings leverage through derivatives, prediction markets, stablecoins and cost control?

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## Comments (1)

- **Jasper · 2026-08-03T08:57:39.000Z**: market wide spot volumes fell 25 percent, so that drop is share gain. subscriptions are nearly half the mix now.


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**