Coinbase shares fell after gains in the cryptocurrency exchange's subscription revenue failed to offset weaker trading volumes. In the quarter ended June 30, Coinbase earned $1.43 billion, or $5.14 per share.

Coinbase Global reported a drop in adjusted profit for the second quarter on Thursday, as gains in subscription and services revenue were offset by weaker trading activity amid reduced cryptocurrency volatility.

The crypto exchange called its second quarter “solid,” but revenue dropped 26% quarter-on-quarter and some of its guidance was also disappointing.