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Coinbase trading volumes plummet as 'crypto winter' sets in

Exchange's shares fall after disappointing earnings and bleak outlook

Coinbase has sought to diversify its offerings as crypto trading volumes have shrunk.   © Reuters

NEW YORK (Financial Times) -- Coinbase's trading volumes fell more than 40% in the first quarter, as its worse-than-expected earnings and bleak outlook underscored the fallout from the crypto bear market.

Shares in the largest U.S. cryptocurrency exchange fell more than 15% in after-hours trading, after the company reported net losses of $430 million, far greater than the $47 million expected by Wall Street analysts.

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