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Coinbase is falling after revenue miss, but Citigroup says a rebound is coming. Here's why

Cnbc · · 272 words · By Tanaya Macheel
open_in_new Read the original article: https://www.cnbc.com/2026/05/08/coinbase-is-falling-after-revenue-miss-but-citig…

fact_checkFact-Check Results

9 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

check_circle Corroborated 5
info Single Source 2
verified Verified 1
help Insufficient Evidence 1
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“The crypto market structure bill wending its way through Congress —known as the CLARITY Act”
CORROBORATED
Multiple independent sources, including congress.gov and news reports, confirm the existence of the Digital Asset Market Clarity Act, commonly known as the CLARITY Act.
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web search NEUTRAL — Treasury Secretary Scott Bessent has urged Congress to act, saying the delay has weighed on Bitcoin (BTC) and the broader market. Polymarket traders now put the odds of President Donald Trump signing …
https://yellow.com/news/clarity-act-tillis-yield-deal-markup
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web search NEUTRAL — a bill known as the Clarity Act.
https://www.congress.gov/bill/119th-congress/house-bill/3633…
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web search NEUTRAL — The Digital Asset Market Clarity Act — known as the Clarity Act — is designed to resolve this long-standing issue. In May 2026, the bill moved close to a Senate vote after Senators Thom Tillis and Ang…
https://crypto-insite.com/en/clarity-act-new-crypto-law/
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“Shares of Coinbase are falling after it posted a surprise first-quarter loss on Thursday evening.”
CORROBORATED
Three separate web results confirm Coinbase reported a surprise first-quarter loss on a Thursday, leading to a decline in share price.
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web search NEUTRAL — Coinbase posts steep first-quarter loss after slide in crypto prices; shares fall 4%.
https://news.google.com/stories/CAAqNggKIjBDQklTSGpvSmMzUnZj…
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web search NEUTRAL — Coinbase reported a surprise first-quarter loss of $1.49 per share. Analysts had estimated a profit of 27 cents per share, according to LSEG. Revenue also missed expectations.
https://www.msn.com/en-us/money/news/coinbase-posts-steep-fi…
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web search NEUTRAL — Coinbase on Thursday posted a second consecutive quarterly loss of $394 million in Q1 2026, following an announcement earlier this week that it would cut 14% of its workforce. The U.S. crypto exchange…
https://decrypt.co/367216/coinbase-shares-slide-crypto-giant…
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“Trading activity on the platform fell, hurt by the slump in crypto prices in the first three months of the year.”
CORROBORATED
Evidence confirms Coinbase experienced a significant drop in revenue and trading volume in the first quarter of the year due to cooling markets.
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web search NEUTRAL — Shares of Coinbase (COIN) fell nearly 3% in post-market trading after it reported a significant drop in revenue in the first quarter of the year, missing analyst estimates, as markets cooled amid econ…
https://www.coindesk.com/markets/2025/05/08/coinbase-earning…
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web search NEUTRAL — Coinbase’s retail wallet application, which launched in mid-2018, had grown to over 2M users through the year ended December 31, 2020. In 2020 Coinbase experienced ~30 outages, with an average outage …
https://www.meritechcapital.com/blog/coinbase-ipo-s-1-breakd…
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web search NEUTRAL — Coinbase experienced a 9% quarter-over-quarter increase in subscription and services revenue, which totaled $698 million, largely thanks to robust stablecoin activity. Revenue from stablecoins reached…
https://ampraider.com/coinbase-advocates-for-crypto-platform…
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“Subscription revenue – meant to help Coinbase diversify away from its reliance on speculative trading – also underperformed.”
SINGLE SOURCE
While sources discuss Coinbase's strategy to diversify via subscription revenue and report specific revenue figures, none of the provided evidence explicitly confirms that subscription revenue 'underperformed' in the specific context of the first quarter mentioned in the other claims.
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web search NEUTRAL — Coinbase generated $1.52B in transaction revenue, $1.4B in subscriptions and services, and $182 million in other revenue for 2023.
https://fourweekmba.com/coinbase-subscription-revenue-breakd…
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web search NEUTRAL — Reasons for Coinbase to Opt for This Subscription Model. The major reason for this launch is to diversify Coinbase’s retail business which makes much of its profits from the transaction fees.
https://www.coinspeaker.com/coinbase-subscription-model/
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web search NEUTRAL — Subscriptions and services revenue overtook transactions as Coinbase’s primary money maker last quarter. Revenue from subscriptions and services came in at $334 million, Coinbase reported Thursday, sl…
https://decrypt.co/204184/coinbase-reports-2-million-q3-loss
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“The investment bank also pointed to the Coinbase Developer Platform, a suite of tools and services for developers to build on-chain applications”
VERIFIED
Official Coinbase documentation confirms the existence of the Coinbase Developer Platform and its use for developers to build on-chain applications (e.g., Onramp).
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web search NEUTRAL — Onramp (fka Coinbase Pay) is now available to all developers on the Coinbase Developer Platform.Login to Coinbase Developer Platform (create an account if needed). Download an API key. Start integrati…
https://www.coinbase.com/zh-cn/developer-platform/discover/s…
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web search NEUTRAL — From launching Coinbase’s new Base App to fast-forwarding developer innovation with MongoDB, Chintan Turakhia, Senior Director of Engineering at Coinbase, shares how his team is building the “everythi…
https://www.linkedin.com/posts/mongodbinc_how-coinbase-is-us…
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web search NEUTRAL — Both Coinbase and other industry players like BitGo have also adopted multiparty computation (MPC) technology to power their wallet services. MPC technology allows for secure computations and transact…
https://rapid-meta.com/cryptocurrencies/coinbase-launches-sm…
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“Last week, lawmakers struck a compromise on key language proposed in the crypto legislation regarding interest paid to users on stablecoin balances and activity.”
CORROBORATED
Multiple sources confirm that Senators Tillis and Alsobrooks reached a compromise regarding the language on stablecoin yield/interest in the CLARITY Act.
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web search NEUTRAL — The text bars crypto firms from paying interest or yield on stablecoin balances in a manner economically or functionally equivalent to a bank deposit.
https://www.coindesk.com/policy/2026/05/02/crypto-industry-b…
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web search NEUTRAL — Key Takeaways Tillis and Alsobrooks finalize stablecoin yield language banning passive yields akin to bank deposits. Rewards allowed only for real platform use, not passive interest. Deal clears path …
https://newscord.org/article/tillis-and-alsobrooks-reach-cla…
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web search NEUTRAL — Crypto companies such as Coinbase are calling for Congress to advance a major market structure bill known as the CLARITY Act as soon as next week after senators released compromise language meant ...
https://www.cnbc.com/2026/05/04/crypto-industry-calls-for-la…
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“The updated version restricts crypto companies like Coinbase from paying savings account-like interest on passive stablecoin deposits, but allows rewards as usage-driven incentives”
CORROBORATED
Multiple sources explicitly state that the compromise restricts passive, savings-like interest on stablecoins while allowing rewards for actual platform usage.
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web search NEUTRAL — To provide for a system of regulation of the offer and sale of digital commodities by the Securities and Exchange Commission and the Commodity Futures Trading Commission, to amend the Federal Reserve …
https://www.congress.gov/bill/119th-congress/house-bill/3633…
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web search NEUTRAL — The CLARITY Act stablecoin yield compromise is a bipartisan agreement finalised by Senators Thom Tillis and Angela Alsobrooks that bans crypto firms from offering interest or yield on stablecoin balan…
https://stablecoininsider.org/u-s-senators-reach-compromise-…
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web search NEUTRAL — On Friday, key language in the proposed crypto legislation was updated to restrict crypto companies from paying savings account-like interest or yield to users on passive stablecoin deposits ...
https://www.cnbc.com/2026/05/04/circle-jumps-16percent-on-cl…
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“The crypto industry is expecting a committee vote with bipartisan support before May 21.”
SINGLE SOURCE
While sources mention a 'Senate markup' and 'legislative delay beyond June', none of the provided evidence specifically confirms a committee vote expected 'before May 21'.
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web search NEUTRAL — Stablecoin yield compromise may attract institutional inflows, benefiting DeFi tokens such as MKR and AAVE. Risk of legislative delay beyond June could trigger profit-taking in overbought altcoin mark…
https://coinalertnews.com/news/2026/05/06/clarity-act-signed…
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web search NEUTRAL — Before the Clarity Act was introduced, the United States did not have a unified federal law clearly defining what a digital asset is from a legal standpoint. The SEC (Securities and Exchange Commissio…
https://crypto-insite.com/en/clarity-act-new-crypto-law/
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web search NEUTRAL — A procedural vote to advance crypto bills, which failed and was expected to be revisited later on Tuesday, is no longer taking place.That bill was expected to be at Trump's desk before the end of the …
https://www.theblock.co/post/362791/house-scraps-tuesday-vot…
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“The White House is aiming for the full Congress to vote on the bill around July 4.”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results regarding the White House's target date for a full Congress vote on July 4.
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.