From Morningstar: 2025-05-09 04:25:00

Coinbase Global reported weaker first-quarter earnings due to falling cryptocurrency prices, leading to less trading and asset losses. Net revenue decreased 11% from last quarter but rose 24% from last year to $1.96 billion. Despite solid revenue, net income fell to $65.6 million. Coinbase’s choice to hold cryptocurrency investments is a concern as it is heavily exposed to market volatility. Total trading volume decreased by 10.5%, driving total transaction revenue down 18.9% to $1.26 billion. Coinbase’s fair value estimate is $170, and the company recently announced an acquisition of Deribit for $700 million in cash and 11 million shares. The deal will expand Coinbase’s international presence and exposure to cryptocurrency derivative markets.



Read more at Morningstar: Coinbase Earnings: Revenue Dips, But Service Income…