Coinbase's first quarter revenue fell by 10%

PANews reported on May 9 that according to The Block, Coinbase released its Q1 2025 financial report, with revenue of US$2.034 billion, lower than the expected US$2.12 billion; earnings per share of US$0.24, far lower than the market's expectations of US$1.93. Trading volume fell 10% from the previous quarter, and trading revenue fell to $1.26 billion. The company announced it would acquire derivatives exchange Deribit for $2.9 billion to expand its global derivatives business. For the quarter ended March 31, adjusted net profit was $527 million and net profit was $66 million.