Coinbase Outlines Cost-Cutting Measures, Employee Grants Amid Weak Results and Crypto Rout: Report

In its first-quarter earnings report, Coinbase reported lower-than-expected revenues, and a quarterly net loss of $430 million, compared with a profit of $840 million in the fourth quarter of 2021. The company said it expected about $1.7 billion of stock-based compensation expenses, up from $1.5 billion previously, citing “hiring trends and year-to-date acquisitions.”