In an environment that remains unfavorable for cryptocurrencies, Coinbase has reported Q1 results that illustrate the disconnect between its strategic progress and its still-limited impact on the bottom line. The stock fell about 4% in after-hours trading on Thursday, extending a YTD decline of about 20% following the crypto retreat.
The US platform generated revenue of $1.41bn in Q1, down about 30% y-o-y, missing market expectations of nearly $1.49bn. The group posted a net loss of $394m, compared to a profit of $66m a year earlier, while adjusted EBITDA dropped to $303m, from $930m in Q1 2025. Pressure stems primarily from transaction revenue, which remains heavily dependent on crypto…
