Coinbase Global Inc (NASDAQ:COIN) reported weaker-than-expected first-quarter 2026 results, as lower crypto trading activity and investment-related losses weighed on and earnings.

For the quarter ended March 31, Coinbase posted an adjusted loss of $1.49 per share, far below estimates of earnings per share of $0.27.

Revenue came in at $1.41 billion, below the consensus of $1.52 billion.

The result also marked a 30.5% decline from $2.03 billion in the same period a year earlier, reflecting softer crypto market conditions and reduced trading volumes.

Coinbase also recorded an unrealized loss of $482…