In brief
- Coinbase posted a $394 million Q1 net loss, marking its second consecutive quarterly loss.
- Net revenue fell 31% to $1.4 billion, missing analyst expectations as crypto trading volumes declined.
- The exchange said this week that it would cut 14% of its workforce, citing market conditions and AI optimization.
Coinbase on Thursday posted a second consecutive quarterly loss of $394 million in Q1 2026, following an announcement earlier this week that it would cut 14% of its workforce.
The U.S. crypto exchange saw net revenue fall 31% to $1.4 billion in the first quarter, missing analyst expectations. Transaction revenue, which forms the core of Coinbase’s business model, dropped 40% to $756 million from the same period last year.
