(Reuters) -Coinbase Global reported a sharp rise in second-quarter profit on Thursday, as gains in its subscription and services business offset a dip in trading revenue. Retail trading volumes remained sluggish in the second quarter as investor appetite remained muted amid regulatory and market uncertainty,

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

Coinbase transaction revenue fell 2 per cent to $764.3 million. However, revenue from the company's subscription and services unit — which includes businesses outside of trading — rose 9.5 per cent to $655.