Coinbase posts second consecutive quarterly loss amid crypto slump

From finance.yahoo.com

Coinbase Global (COIN) posted a wider-than-expected Q1 net loss on Thursday, marking the major crypto exchange’s second consecutive quarter in the red since the crypto market began to slump last fall. The company reported a net loss of $394 million, or $1.49 per share, in the first quarter. That compared to a profit of $66 million, or $0.24 per share, in the year ago period and a net loss of $667 million, or $2.49 per share, in the previous quarter. Earlier this week, Coinbase disclosed plans to reduce its headcount by 14% or 700 workers, citing “current market conditions” and a need to “optimize the ... (full story)