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- Coinbase released its second quarter earnings for 2023 — and the report shows a crypto contraction.
- Consumer and institutional trading volume were both significantly down on the platform compared to last year.
- A prolonged Crypto Winter, plus an SEC lawsuit, could mean trouble for the industry.
Coinbase, the world's second-largest cryptocurrency exchange in terms of volume, released its second quarter earnings report on Thursday — and the results are less than favorable for crypto enthusiasts.