The move came after company posted a wider-than-expected second quarter net loss on Thursday, marking its third quarter in the red since the crypto market began to drawdown from its October highs. That compared to a profit of $1.43 billion, or $5.14, in the year-ago period. The company's adjusted EBITDA dropped 59% from the year-ago period to $208 million, missing analyst expectations by a third. The bank said it is lowering its price target for Coinbase stock from $200 to $155 per share. But the crypto market faced softer asset prices and lower volatility, which translated into muted trading for the major crypto exchange.