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Crypto Exchange Coinbase Posts Loss, but Beats Expectations

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Coinbase Global reported a fifth consecutive quarter of losses as individual investor enthusiasm for crypto trading on the platform remained stagnant.

The biggest cryptocurrency exchange in the U.S. posted a loss of $79 million in the first quarter, narrowing its loss of $430 million a year ago. The improvement was largely driven by operational cost cutting, including a 20% reduction in workforce announced in January.


Coinbase Global reported a fifth consecutive quarter of losses as individual investor enthusiasm for crypto trading on the platform remained stagnant.

The biggest cryptocurrency exchange in the U.S. posted a loss of $79 million in the first quarter, narrowing its loss of $430 million a year ago. The improvement was largely driven by operational cost cutting, including a 20% reduction in workforce announced in January.

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