Coinbase Reports Drop in Profit - WSJ
1. Coinbase's profit dropped to $66 million from $1.2 billion year-over-year. 2. Revenue rose to $2 billion but missed Wall Street's $2.1 billion target. 3. Shares fell 2.8% in after-hours trading despite announcing acquisition of Deribit. 4. Quarterly revenue declined 10% from the previous quarter influenced by Bitcoin's price. 5. Bitcoin recently surged above $100,000, impacting Coinbase's market position.