FILE PHOTO: A smartphone with displayed Coinbase logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/ File Photo
(Reuters) -Coinbase shares slumped 15% and hit their lowest in more than a month on Friday, after the crypto exchange reported a drop in second-quarter adjusted profit due to a slowdown in trading.
The stock was last trading at $321.68, set to wipe out $14.3 billion of market value if current levels hold. It has gained 52% this year as of last close, ranking among the top 15 gainers on the benchmark S&P 500 index, which Coinbase joined in May.
