Coinbase's first quarter revenue fell short of expectations, with trading activity decreasing by 10%

According to The Block, Coinbase released its Q1 2025 financial report, with revenue of $2.034 billion, lower than the expected $2.12 billion; Earnings per share were $0.24, far below the market expectation of $1.93. The trading volume decreased by 10% compared to the previous quarter, and the trading revenue dropped to 1.26 billion US dollars. Previously, the company announced that it would acquire the derivatives exchange Deribit for $2.9 billion to expand its global derivatives business. For the quarter ending March 31st, the adjusted net profit was $527 million, with a net profit of $66 million.