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.