Coinbase (Coin) revenues, sales of sales on Wall Street while goods volume drops 10% in the middle of market disturbance
Coinbase (coins) shares fell nearly 3% of post-market trading after it reported a significant income collapse in the first quarter of the year, missing analyst estimates, as markets were cooled amidst economic uncertainty in the US
The crypto exchange Says It recorded $ 2 billion income, from $ 2.27 billion to fourth quarter and less than street estimates of $ 2.1 billion. The company also reported revenues per component of $ 0.24, missing an analyst analyst estimate of $ 1.93, according to factset data.
Trade volume dropped 10% to $ 393.1 billion quarter in the quarter and the transaction revenue came to $ 1.3 billion, about 19% less than the fourth quarter.
“Q1 has seen the increase in the average volatility of the BTC asset with a BTC that reaches a new full time high price in January. However, crypto prices have dropped alongside a broader decline in the market -driven by tariff policy and macroeconomic uncertainty,” Coinbase wrote in a letter to the seriarers.
Analysts in JP Morgan, Barclays, and Compass Points have everything slapped their forecasts Prior to the income report as the crypto trading volume slowed down strongly since January amid uncertainty about the future of the US economy.
Robinhood (Hood) trading platform, whose retail -focused client is often compared to Coinbase’s businessman’s base, in April reported A 13% collapse in transaction -based income.
The $ 2.9 billion taking Coinbase of the Derivatives Exchange Deribit, however, its position as the new leader in the Global Crypto options trading, has reached Binance and other rivals. The move sets the stage for a new chapter in the derivatives markets – one whose investors can be watched closely.
Read more: The $ 2.9B deribit faces Coinbase a ‘legitimate threat’ for peers, says Wall Street analysts
Update (May 8, 20:43 UTC): Adds additional paragraphs to the end and share a price decline.
