Summary
- Coinbase reported that its Q1 revenue fell short of market expectations at $2 billion.
- Trading volume decreased by 10% compared to the previous quarter, and trading revenue decreased by 19%.
- Coinbase explained that these results were due to market volatility and macroeconomic uncertainties.
Global virtual asset (cryptocurrency) exchange Coinbase announced its first-quarter results for this year.
According to CoinDesk, a virtual asset specialized media outlet, Coinbase's revenue for the period was $2 billion, falling short of the market expectation of $2.1 billion.
Furthermore, it is a decrease compared to the previous quarter (Q4 2024, $2.27 billion). The trading volume decreased by 10% compared to the previous quarter, recording $393.1 billion, and trading revenue decreased by 19% to $1.3 billion.
In a letter to shareholders, Coinbase explained that this was due to "market volatility," stating, "The overall market has stagnated due to tariff policies and macroeconomic uncertainties, leading to a decline in virtual asset prices."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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