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via The Block · By The Block Editorial

Coinbase loses nearly $400 million in Q1 as CEO seeks to reduce dependence on spot crypto trading

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$61,756.00

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24h H/L

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Change: $4,136.36 (7.00%)

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Long: 68.9%Short: 31.1%

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Resistance 1$61,781.95

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Support 3$52,643.43

Pivot (PP):$61,467.12

Trend:Downtrend

RSI (14):36.3

The Block Editorial

(09:22 PM UTC)

1 min read

Approved byDavid Kim

772 views

0 comments

Coinbase posted a net loss of $394.1 million in the first quarter as cryptocurrency prices fell dramatically during the period, causing the exchange to register significant losses on the digital assets it held on its balance sheet, the company said Thursday in its latest earnings report.

The company lost $482 million on the crypto that was held for investment purposes.

Coinbase CEO Brian…

COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.

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