Coinbase posts $394M net loss in Q1 2026 as revenue drops 31% and crypto prices crater!

Coinbase reported a net loss of $394.1 million in Q1 2026, its second consecutive quarterly loss, as falling crypto prices hammered the exchange's balance sheet. The company lost $482 million on digital assets held for investment, while total revenue fell 31% year-on-year to $1.41 billion. Transaction revenue dropped even harder — down 40% to $756 million — as Bitcoin slid from above $97,000 in January to under $70,000 by quarter's end.

CEO Brian Armstrong is pushing Coinbase toward a broader multi-asset model, targeting derivatives, commodities, futures, and prediction markets to reduce reliance on volatile spot trading volumes. Stablecoin revenue offered one bright spot, rising 11% to $305 million. Adjusted EBITDA came in at $303 million, a steep drop from $930 million in Q1 2025.

COIN shares fell roughly 6% in after-hours trading to around $182. Armstrong maintained that the…