Coinbase Global posts Q1 loss as weak crypto market hits revenue
Updated
Updated · MarketWatch · May 7
Coinbase Global posts Q1 loss as weak crypto market hits revenue
20 articles · Updated · MarketWatch · May 7
The exchange reported a $394.1 million net loss, including a $482.4 million hit on investment crypto assets, while revenue fell to $1.41 billion and shares dropped 4.7% after hours.
Coinbase said second-quarter subscription and services revenue should be $565 million to $645 million, with transaction revenue at about $215 million so far and restructuring costs of $50 million to $60 million.
The results extend Coinbase's run of quarterly losses as softer trading conditions persist, while roughly 700 layoffs announced this week reflect cost-cutting and a greater reliance on AI agents.
New US laws threaten stablecoin rewards. Is Coinbase's most promising non-trading revenue stream already on the chopping block?
With trading revenue in freefall, can Coinbase's AI pivot and new ventures truly save it from the crypto winter?