Benchmark cuts Coinbase Q2 earnings forecast ahead of next week's release

U.S. investment bank Benchmark has lowered its forecast for Coinbase's second-quarter results, which are scheduled to be released next week, The Block reported. The revision was attributed to weak cryptocurrency trading volume. Benchmark added that investors may be underestimating the potential value the CLARITY Act could bring to Coinbase and said the bill may matter more than the company's second-quarter earnings.