Coinbase Q1 net loss nears $400 million Revenue of $1.413 billion dropped 31% year-over-year, marking the second consecutive quarter of losses. The cooling crypto market has directly hit trading activity hard. However, global market share defied the trend, rising to a historic high of 8.6%. The Base chain processed 62% of global on-chain stablecoin transaction volume, and derivatives trading volume surged 169% year-over-year.