- Missed consensus for Q3 revs and guided Q4 revs below consensus. Transaction-based revs increased +32% yr/yr to $267 mln; cryptocurrencies increased +860% to $51 mln, as crypto activity declined from the previous quarter's record highs. MAUs increased +76% yr/yr while average revenues per user decreased 36%. Price target trimmed at various firms, including to $42 from $56 at Goldman.
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