Benchmark Defends Coinbase: Q2 Stumble Just a Speed Bump, Not a Crash

Wall Street's favorite crypto punching bag takes another hit—but the bulls aren't flinching.

The dip that didn't derail

Coinbase's Q2 earnings landed with a thud, yet Benchmark analysts see temporary turbulence, not structural damage. Trading volumes slumped, retail interest wavered, but institutional inflows kept the engines humming.

Regulatory headwinds meet product tailwinds

While the SEC plays whack-a-mole with crypto ETFs, Coinbase's staking services and custody solutions quietly onboarded billions. The compliance department's overtime pay alone could fund a small nation's GDP.

The crypto winter paradox

Bear markets separate the tourists from the builders. Coinbase's infrastructure bets—from Base L2 to wallet services—position it as the picks-and-shovels play when the next speculative frenzy hits. Because let's face it, Wall Street always comes crawling back to volatility.