Coinbase, a US-based cryptocurrency exchange platform, reported a US$307 million loss in its second-quarter 2025 earnings due to a data breach. The company attributed the breach, disclosed in May 2025, to cyber criminals bribing offshore customer service representatives; initial estimates for the breach were as high as US$400 million.
The Q2 report also revealed a 26% decrease in total revenue and a 39% drop in transaction revenue. Cryptocurrency spot volumes decreased by over 30% compared to the prior quarter. Despite these setbacks, Coinbase reported a net income of US$1.43 billion, a significant increase from US$66 million in the previous quarter and US$36 million year-over-year. Trading volumes for Q2 2025 reached US$237 billion, compared to US$226 billion in Q2 2024.
Following the earnings release, Coinbase shares experienced a decline of over 3% in after-hours trading, settling at US$363.80. However, the stock remains up more than 40% year-to-date.
