Coinbase Navigates Turmoil, Focuses on Derivatives as Trading Slows

Coinbase’s Q1 earnings report revealed a challenging quarter, with revenue dropping 10% compared to the previous period to $2 billion. Despite missing analyst expectations by 4%, the exchange managed to exceed consensus estimates on earnings per share, reporting $1.94 vs. $1.85 expected. However, trading activity significantly declined, falling 18.9% to $1.26 billion, while volume shrunk by 10.5% to $393 billion due to broader market headwinds like geopolitical uncertainties and a decline in the overall crypto market cap.