NEW YORK, May 8, 2026, 06:09 (EDT)

• Coinbase swung to a net loss of $394.1 million in the first quarter, wiping out its profit from a year ago, after total revenue dropped 31% to $1.413 billion.
• Coinbase posted results just as crypto trading cooled off, squeezing its key transaction-fee revenue and sparking new doubts about how things might shake out in the second quarter.
• Coinbase trading services were knocked offline overnight after an Amazon Web Services outage; the exchange said all markets were back up shortly after.

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…