Crypto exchange Coinbase’s total revenue fell 10% quarter-over-quarter to $2 billion in Q1, missing industry estimates by 4.1% as trading activity slowed across the market.
Coinbase’s net income was
The firm’s earnings per share of $1.94, however, managed to
Coinbase’s May 8 results also showed that transaction revenue fell 18.9% quarter-on-quarter to $1.26 billion, as did trading volumes, which dipped 10.5% to $393 billion as crypto market cap dropped by double digits over the quarter, partly attributed to the
In contrast, US President Donald Trump’s election win in November was considered one of the main catalysts behind the rising market prices in Q4.
Meanwhile, Coinbase’s subscription and services revenue rose 8.9% to $698.1 million, with stablecoin revenue the most significant contributor.
Despite the fall in total revenue and trading volume, Coinbase said it gained more market share in global spot and derivatives trading while deepening its presence in emerging markets such as Argentina and India with “critical registrations.”
On the regulatory front, Coinbase said the
On May 8, Coinbase
The acquisition will expand Coinbase’s footprint in the
Coinbase noted that Deribit facilitated over $1 trillion in
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The deal now makes Coinbase the “global leader” in crypto derivatives trading, the firm said.
Competitor firm Kraken
Coinbase’s Deribit deal contributed to a 5.1% rise in Coinbase’s (COIN) share price during the May 8 trading day, though shares have pulled back 3.1% in after-hours since the crypto exchange posted its Q1 results.
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