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Coinbase Global Inc. posted a profit and revenue doubled as this year’s cryptocurrency recovery carried into the second quarter.
The biggest US crypto exchange’s revenue jumped to $1.45 billion, slightly above the forecast of analysts surveyed by Bloomberg. Net income was $36 million, or 14 cents a share, after taking in account an impairment charge to writedown the value of cryptocurrencies held in its investment portfolio. It has a loss in the year-ago period.
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