Coinbase's Frankfurt-listed shares tumbled 11% on Friday, a day after the cryptocurrency exchange reported a drop in adjusted profit for the second quarter, as gains in subscription and services revenue were offset by weaker trading activity.

Revenue from stablecoins, which became a dominant theme and major driver of crypto market action in the second quarter, came in at $332.5 million, about in line with estimates of $333.2 million, per StreetAccount. That was a 38% increase from the same period a year ago and a 12% increase from the first quarter.

The largest U.S. crypto exchange’s revenue fell short of Wall Street expectations.