Coinbase Posts $394M Q1 Loss as Revenue Falls to $1.41B

Coinbase reported a $394.1 million Q1 net loss as total revenue fell 31% year over year to $1.41 billion. Transaction revenue dropped 40% year over year to $756 million. CEO Brian Armstrong said Coinbase is shifting from a spot crypto platform to a multi-asset platform that includes derivatives, commodities, futures, and prediction market contracts.

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