According to CoinMeta, Coinbase's global ( Coin ) stock prices fell by more than 14% on Friday morning due to the company's second-quarter net loss exceeding expectations on Thursday. The loss amounted to $359 million, or $1.36 per share, whereas in the same period last year, there was a profit of $1.43 billion, or $5.14 per share. Analysts had anticipated a loss of $0.44 per share. Coinbase's stock price has fallen by more than 32% so far this year. As cryptocurrency prices have declined, Coinbase's core source of revenue has also been affected, with net revenue dropping by 17% year-on-year to $1.15 billion. The company's adjusted EBITDA decreased by 59% from the same period last year to $208 million, falling short of analysts' expectations. Mizuho Analysts Dan Dolev stated that although they are optimistic about the future direction, the short-term situation remains challenging. The bank has lowered its target price for Coinbase's stock from $200 to $155.