Coinbase Revenue Fell 31% as Crypto Market Slumps

Coinbase, the biggest U.S. crypto exchange, reported first-quarter revenue of $1.4 billion, down 31% from a year ago amid a crypto market downturn.

Shares fell 5% in after-hour trading.

The company’s net loss in the quarter was $394 million, down from a net profit of $65.6 million a year ago but ...