The U.S. cryptocurrency exchange’s profits soared in the second quarter, but it warned that there was a decline in trading volume during the quarter.

As trading volume increased by nearly 38% from the previous quarter, US cryptocurrency exchange Coinbase Global Inc’s profit in the second quarter exceeded market expectations, but trading volume is expected to decline this quarter.

Coinbase makes money by charging fees for transactions and benefits from the growing popularity of digital assets. It said on Tuesday that the reported quarter illustrates the volatility of this still in its infancy industry, which is facing calls for more regulation.

Chief Financial Officer Alesia Haas said that Coinbase is paying close attention to the comments of US Securities and Exchange Commission (SEC) Chairman Gary Gensler. He called on Congress last week to seek more powers. Better supervise cryptocurrency transactions, lending and platforms.

“We are eager to understand the legal framework for his concerns and how any of these concerns may affect our product roadmap,” Haas said on a post-earnings conference call with analysts.

The exchange also plans to increase the number of assets listed on its platform. CEO Brian Armstrong stated that he wants Coinbase to become an “asset Amazon” and list all legal crypto assets on its platform .

For the quarter ended June 30, the company’s transaction volume increased from US$335 billion in the quarter ended March to US$462 billion. Bitcoin transactions accounted for 24% of Coinbase’s transaction volume this quarter, down from 39% in the first quarter.

However, for the third quarter, it expects that the transaction volume will be lower than that of the second quarter because the transaction volume from August to the present has improved compared with July, but it is still lower than the level earlier this year.

After adjustment, the cryptocurrency exchange earned $3.45 per share. According to Refinitiv’s IBES data, analysts expect a profit of $2.33 per share.

Coinbase is one of the largest cryptocurrency exchanges in the world and went public through a direct listing in April.

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