Coinbase Reports $2 Billion Revenue, Stock Drops Nearly 3% in Aftermarket

Coinbase (COIN) shares fell nearly 3% in post-market trading following a revenue drop in Q1, which missed analyst estimates amid economic uncertainty in the U.S.

Revenue was $2 billion, down from $2.27 billion in Q4 and below estimates of $2.1 billion.
Earnings per share were $0.24, missing the expected $1.93.
Trading volume decreased by 10% to $393.1 billion quarter over quarter.
Transaction revenue was $1.3 billion, about 19% lower than in Q4.
Increased crypto asset volatility was noted, with BTC reaching an all-time high in January before prices fell due to broader market declines.
Analysts had previously cut forecasts as crypto trading volumes slowed amidst U.S. economic uncertainties.
Coinbase's acquisition of Deribit for $2.9 billion positions it as a leader in global crypto options trading.

This acquisition could influence derivatives markets significantly as investors monitor upcoming changes.