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

Wall Street's favorite crypto punching bag takes another swing—but analysts aren't biting.

Coinbase's Q2 earnings landed with a thud, but Benchmark insists the exchange isn't circling the drain. 'This is crypto winter's last gasp, not an extinction event,' their note claims, ignoring how often that line's been recycled since 2022.

Here's why the smart money's still betting on the OG exchange:

- Institutional inflows quietly doubled despite retail traders hibernating

- Staking revenue crushed estimates (proof that ETH's merge was a gift that keeps giving)

- Regulatory clarity? More like regulatory limbo—but somehow that's now a 'buy signal'

Bottom line: When your business model thrives on volatility, even bad news can be monetized. Just ask the SEC lawyers drafting their next lawsuit.