Market Shocked by Encryption! Coinbase (COIN.US) Q1 Profit Plunges 94%, Acquires Deribit, a Large-Derivative Exchange

According to the Wisdom Finance APP, affected by the violent fluctuation of digital asset prices, the largest cryptocurrency exchange in the United States, Coinbase (COIN.US), saw an increase in revenue but a decrease in profit in the first quarter. Data shows that the company's Q1 revenue increased by about 24% year-on-year to $2 billion, but decreased by about 10% compared to the fourth quarter of last year, with market expectations at $2.105 billion; net profit plummeted by 94% year-on-year to $66 million, with earnings per share of 24 cents. The main reason for the decline in profit is that Coinbase values its cryptocurrency assets at market prices.