Coinbase Stock Slides After Surprise Q1 Loss: Crypto Slowdown Hits The Exchange
Coinbase Global Inc. swung to another quarterly loss, its second in a row, as softer crypto markets battered trading revenue and shrinking crypto asset values weighed on results. The exchange posted a net loss of $394.1 million for the first quarter, or $1.49 per share—down from a $65.6 million profit in the same period last year. Friday’s U.S. market open looms with pressure on the company.
