May 7 (Reuters) – Cryptocurrency exchange Coinbase Global on Thursday recorded a second-consecutive quarter of losses, as a crypto-driven market volatility sapped the company’s trading volumes during a period of broad digital-asset selloff.
The company reported a net loss of $394.1 million, or $1.49 per share, for the quarter ended March 31, compared with a profit of $65.6 million, or 24 cents per share, a year earlier.
Trading volumes on digital‑asset exchanges softened at the start of 2026, as waning momentum in crypto prices, tighter financial conditions and lingering macroeconomic uncertainty dampened appetite for risk, triggering a pullback following a rally to record highs in October last year.
Rising Middle East tensions also drove a broad risk-off shift in global markets, pushing investors into safe-haven assets.
Coinbase’s transaction revenue slumped about 40% to $756 million during the quarter, from $1.26 billion it recorded a year earlier.
Digital assets have lost their portfolio-hedge appeal, increasingly tracking broader financial markets and curbing cross-asset inflows, which has made it tougher for firms like Coinbase to generate counter-cyclical trading gains in downturns.
Shares of the company were down about 4% in extended trading.
(Reporting by Rishab Shaju and Pritam Biswas in Bengaluru; Editing by Sriraj Kalluvila)
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