Coinbase hit by spot trading slump: Wall Street trims expectations ahead of earnings

60-second summary

Coinbase is facing a spot trading slump, with Wall Street trimming expectations for its second-quarter earnings amid cooling crypto trading activity. Analysts forecast a sluggish quarter, with all eyes on Coinbase's upcoming earnings and the pending U.S. crypto legislation, which may have a significant impact on the company's performance and the broader crypto market's trajectory.