Q1 Results

Coinbase reported mixed Q1 results, missing Wall Street expectations due to crypto price downturn impacting trading revenue. The company posted a loss per share and lower-than-expected total revenue. Despite transaction revenue shortfall, subscription and services revenue showed resilience, though also missed projections. Coinbase is focusing on diversifying revenue streams through subscriptions and services to offset trading volatility. The exchange also recently reduced its workforce by 14% amidst an AI-driven restructuring and crypto market slowdown.