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Coinbase falls short on revenue as trading volumes slump 30%
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Coinbase Global Inc on Tuesday reported a nearly 30% fall in third-quarter trading volumes on a sequential basis, hit by lower volatility and declining prices for bitcoin and other cryptocurrencies. Trading volumes fell to $327 billion in the quarter from $462 billion in the second. Of this, bitcoin comprised 19%, down from 24% last quarter. The company's shares tumbled 13% in trading after the bell.
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