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Coinbase Q1 Revenue Drops 31%: Can Stablecoins Save the Story?
Coinbase Q1 revenue fell 31% year-over-year to $1.41B, with a net loss of $394M ($1.47 per share);. Bright spots included USDC stablecoin revenue rising 11% YoY to $305M and institutional derivatives revenue up 37% following the Deribit consolidation; the company also announced 700 layoffs and an AI pivot. Can Coinbase's 'stablecoin plus derivatives' dual engine sustain its valuation, or is the bull market receding? Is Coinbase a buy below $200?
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