Coinbase Q2 Earnings Preview: Analysts Cut Estimates Amid Crypto Slump, Bullish on Deribit and Base

As Coinbase prepares to release its Q2 earnings, analysts have revised their estimates downward, reflecting a broader downturn in crypto trading volumes. However, some market observers see reasons for cautious optimism. They point to the company's strategic diversification into areas like the Deribit options exchange, its Base layer-2 network, and growing subscription revenue as indicators that the worst may be over. These non-trading revenue streams are expected to provide a buffer against the current slump and could signal a turning point for the exchange.