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8 May 2026, 10:00

Crypto Giant Coinbase In The Red: Q1 Losses Mount As COIN Slides 5%

On Thursday, crypto exchange Coinbase (COIN) disclosed its first-quarter (Q1) results, which had impact on its stock valuation. COIN shares ended the session down around 5% at $192 per share following the company’s earnings report. This marked the second consecutive quarterly loss for the exchange, although the quarter itself was characterized by extreme conditions, including major volatility spikes and a 50% decline in Bitcoin’s (BTC) price from its all-time highs. Macro Headwinds Hit Coinbase For the quarter, Coinbase posted a net loss of $394.1 million, or $1.49 per share. This compared with a profit of $65.6 million, or $0.24 per share, in the year-ago period. The company also reported weakness in areas tied to its trading ecosystem. Revenue from the subscription and services unit—which includes businesses outside of trading—fell 13.5% to $583.5 million in the first quarter. Overall earnings before certain adjustments were made, as measured by adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA), dropped to $303.3 million, down from $929.9 million a year earlier. Trading-related revenue declined as well. Coinbase said transaction revenue fell 40% year-over-year to $755.8 million. It also recorded a loss on crypto assets held for investment, reporting a loss of $482.4 million on those crypto assets, compared with a loss of $596.7 million in the prior year. Overall, Coinbase pointed to broader market pressure as a major driver of the results. “Macro conditions were genuinely tough. Total crypto market cap and total crypto trading volume were both down more than 20% quarter-over-quarter,” said Chief Financial Officer Alesia Haas during the earnings call. All-Time Highs In Trading Mix Even with those headwinds, Coinbase highlighted several areas where it gained traction. The company said its crypto trading volume market share rose to 8.6%, a new all-time high. The company also said it continues to hold more crypto than any platform in the world, securely storing 12% of global crypto assets. It further pointed to rapid growth in derivatives activity: Coinbase derivatives trading volume grew 169% year-over-year, driven by broader consumer and institutional participation. The exchange also noted that retail derivatives surpassed $200 million in annualized revenue, which it described as a new all-time high. In addition, Coinbase said its prediction markets reached $100 million in annualized revenue in March, after the US launch. In the company’s commentary, Coinbase’s co-founder and CEO Brian Armstrong said the business executed well within the factors it could control. He pointed to “huge growth in derivatives trading volume” tied to what Coinbase calls its “Everything Exchange strategy.” Featured image created with OpenArt, chart from TradingView.com

8 May 2026, 09:13

Coinbase users locked out as outage stretches past five hours

Coinbase has been inaccessible for over five hours, citing cloud service problems. The trading and brokerage platform announced an unexpected outage, leading to liquidations and losses for users with open positions. Coinbase reported degraded performance, with its main site also going out at one point. According to the platform, the problems were due to overheating in one of its AWS cloud facilities. Coinbase experienced service disruptions due to increased temperatures in the affected Availability Zone (use1-az4) in the AWS US-EAST-1 Region. We will begin the process to re-enable trading on our markets shortly. All markets would be placed in “Cancel Only” mode before we… — Coinbase Support (@CoinbaseSupport) May 8, 2026 Users reported some orders were partially filled, or positions were liquidated without access to closing or selling. Later, the exchange managed to allow limited usage mode with ‘Cancel Only’ orders. Coinbase trading for BTC resumed after around six hours of total outages. | Source: Coinbase . As an immediate response, BTC fell to $79,333.53, following $366.83K in liquidations for the past hour, and $823.78K in the past four hours. Later, BTC resumed its rally as other markets took over during their most active hours. Coinbase lost over 35% of its trading volume in the past day, with $1.2B in total activity. BTC is heavily affected, as it makes up over a third of volumes on Coinbase . When will Coinbase reopen? Coinbase went through a period of degraded performance for over five hours. The latest update suggested trading may come back soon, with limited features at first. “ We will begin the process to re-enable trading on our markets shortly. All markets would be placed in “Cancel Only” mode before we move to re-enable trading,” announced Coinbase on its status page . During the outage, BTC trading stalled and users reported price disparities compared to other centralized exchanges. The recovery may take longer, as it depends on external factors. The delays also happened during a relatively volatile day for BTC, when the leading coin dipped below $80,000 once again. Coinbase is still the biggest US exchange, but has shown the risks of centralization and relying on external infrastructure. For now, AWS has not reported outages, but the problem revealed Coinbase may be reliant on a single physical destination for servers. The hard dependence of Coinbase on Amazon’s cloud service is seen as a major fault point, undermining the decentralized nature of crypto. Coinbase pressured by lowered crypto sentiment BTC trading on Coinbase has shown a lowered sentiment from US-based users. Since the end of April, BTC has mostly traded at a discount, with rare days of the typical Coinbase premium. As Cryptopolitan reported , the lowered sentiment coincided with a $394M net loss and missed earnings targets. Coinbase premiums weakened since the end of April, and most days saw BTC trading at a discount to other exchanges. | Source: CoinGlass . The generally slower crypto market may also be a factor behind the recent Coinbase layoffs. The co-founder and CEO of Coinbase sent out a message explaining the rationale behind the 14% layoffs. According to Armstrong, the layoffs were the results of a restructuring where fewer managers and higher AI usage made teams more agile. Armstrong also suggested some of the latest Coinbase code has been shipped by non-technical teams. Coinbase has turned into a hub for multiple activities, including institutional custody. However, previous data leak problems, frozen accounts, and lost access to funds have undermined trust in the platform. Your bank is using your money. You’re getting the scraps. Watch our free video on becoming your own bank

8 May 2026, 08:25

Bithumb to Temporarily Halt Bitcoin Cash Transactions for Network Upgrade on May 15

BitcoinWorld Bithumb to Temporarily Halt Bitcoin Cash Transactions for Network Upgrade on May 15 South Korean cryptocurrency exchange Bithumb has announced a temporary suspension of deposits and withdrawals for Bitcoin Cash (BCH), effective May 15 at 8:00 a.m. UTC. The exchange stated that the halt is necessary to support an upcoming network upgrade for the cryptocurrency. Scheduled Suspension Details According to an official notice from Bithumb, the suspension will affect all BCH deposit and withdrawal services. The exchange has not yet specified an exact time for resumption, but such maintenance periods typically last several hours to a full day, depending on the complexity of the upgrade and network stability. Users are advised to complete any pending transactions before the cutoff time to avoid delays. Network Upgrade Context Bitcoin Cash, a fork of Bitcoin created in 2017, undergoes periodic network upgrades to improve scalability, security, or functionality. While Bithumb did not specify the exact nature of the upgrade, these events often involve protocol changes that require exchanges to update their systems. Similar suspensions have occurred in the past for other cryptocurrencies during major upgrades, such as Bitcoin’s Taproot or Ethereum’s transitions. What This Means for Traders and Holders For Bithumb users holding or trading BCH, the suspension means that during the maintenance window, they will not be able to move funds to external wallets or other exchanges. Trading pairs involving BCH may still be active on the platform, but withdrawals and deposits will be blocked. This is a standard precaution to prevent transaction errors or losses during the upgrade process. Broader Implications for the Crypto Market While Bithumb is a major player in the South Korean market, the temporary halt is unlikely to cause significant price volatility for BCH, as such events are routine and expected. However, users should remain cautious and monitor official announcements from both Bithumb and the Bitcoin Cash development team for any unexpected delays or issues. The suspension also highlights the ongoing need for exchanges to maintain compatibility with evolving blockchain protocols. Conclusion Bithumb’s temporary suspension of BCH services on May 15 is a routine operational measure tied to a network upgrade. Users should plan accordingly and complete any necessary transactions before the deadline. The exchange will likely resume services once the upgrade is confirmed stable and compatible with its systems. FAQs Q1: Why is Bithumb suspending BCH deposits and withdrawals? A1: The suspension is to support an upcoming network upgrade for Bitcoin Cash, which requires exchanges to update their infrastructure to maintain compatibility. Q2: How long will the suspension last? A2: Bithumb has not provided an exact end time, but such suspensions typically last several hours to a day, depending on the upgrade’s complexity and network stability. Q3: Can I still trade BCH on Bithumb during the suspension? A3: Trading pairs involving BCH may remain active, but deposits and withdrawals will be blocked until the upgrade is complete and services are restored. This post Bithumb to Temporarily Halt Bitcoin Cash Transactions for Network Upgrade on May 15 first appeared on BitcoinWorld .

8 May 2026, 07:45

Coinbase Posts $394 Million Loss In Q1 2026 — And The Worst May Not Be Over

Coinbase reported a net loss of $394 million for the first quarter of 2026, swinging from a $65.6 million profit in the same period last year and missing Wall Street expectations on both revenue and earnings per share — as a sharp pullback in crypto prices and trading volumes hit the exchange’s core business harder than analysts had anticipated. The results, reported by Bloomberg after market close on May 7, showed total revenue of $1.41 billion — a 30.5% year-over-year decline and a miss against the analyst consensus of approximately $1.51 billion. On a per-share basis, Coinbase posted a GAAP loss of $1.49 against expectations of a $0.29 profit — a significant miss that sent shares down roughly 4% in after-hours trading. What Drove Coinbase To A Loss The single largest drag on the quarter was $482 million in unrealized losses on crypto assets held for investment, tied primarily to Bitcoin’s roughly 23% decline during Q1, a separate report from TheStreet crypto claims. Strip out that mark-to-market impact and the adjusted net loss narrows to $46 million — a meaningful distinction, but one that still reflects a materially weaker operating environment than the prior year. Transaction revenue, the exchange’s primary revenue engine, came in at $755.8 million — down 23% quarter-over-quarter and below the $805.2 million analysts had projected. The main driver was straightforward: total crypto market capitalization and spot trading volumes declined more than 20% quarter-over-quarter, per Investing.com, pulling Coinbase’s most volatile revenue line with it. Not everything was negative. Subscription and services revenue reached $584 million — representing 44% of net revenue — while stablecoin revenue hit $305 million on record average USDC holdings of $19 billion in Coinbase products. Adjusted EBITDA came in at $303 million, marking the company’s 13th consecutive positive quarter on that metric, per CFO Alesia Haas on the earnings call. A Quarter That Confirms The Pattern The Q1 loss arrives just days after Coinbase announced a 14% reduction in its workforce — approximately 700 roles — citing the need to restructure around AI-driven operations. Taken together, the layoffs and the earnings miss paint the picture of an exchange managing through a difficult cycle rather than riding one. Operating margin collapsed to -1.5% from 34.7% in the year-ago quarter, underlining how quickly Coinbase’s profitability profile can shift when crypto markets pull back. The company closed the quarter with over $10 billion in cash and equivalents, per the earnings call transcript, which provides a substantial buffer — but does little to address the structural revenue sensitivity that has defined every down cycle in the exchange’s short public history. For the nascent sector, Coinbase’s Q1 results serve as a reminder that even the most institutionally established crypto exchange remains tightly tethered to market conditions — and that the road to durable profitability runs directly through the unpredictable terrain of crypto price cycles. Cover image from Grok, COINUSD chart from Tradingview

8 May 2026, 07:30

Coinbase Buys $88 Million Worth of Bitcoin in Q1 2026

Coinbase disclosed during its Q1 2026 earnings call that it purchased $88 million worth of bitcoin during the quarter, marking a significant addition to the publicly listed exchange’s corporate treasury. Strong Accumulation Signal Coinbase, the only major U.S.-listed cryptocurrency exchange, added bitcoin to its corporate treasury during the first quarter of 2026, disclosing a purchase

8 May 2026, 07:25

Binance to Support Chiliz Fan Token Contract Swap: What Holders Need to Know

BitcoinWorld Binance to Support Chiliz Fan Token Contract Swap: What Holders Need to Know Binance, one of the world’s largest cryptocurrency exchanges, has announced its support for a contract swap involving fan tokens built on the Chiliz Chain (CHZ) CAP20 standard. The upgrade will affect tokens associated with major football clubs, including AC Milan (ACM), AS Roma (ASR), Atletico Madrid (ATM), and FC Barcelona (BAR). Timeline and Impact on Trading According to the official announcement, deposits and withdrawals for these Chiliz Chain-based tokens will be temporarily suspended starting at 1:00 a.m. UTC on May 11. The suspension is necessary to facilitate the technical migration to new smart contracts. Trading pairs for these tokens are expected to remain unaffected during the swap, though users are advised to confirm the status of their open orders. Binance has stated that it will handle all technical aspects of the swap on behalf of users holding the affected tokens in their exchange wallets. No action is required from holders, but those using external wallets or decentralized platforms will need to follow Chiliz’s official migration instructions to ensure their tokens are updated to the new contract standard. Why the Swap Matters Contract swaps are a routine but critical part of blockchain ecosystem maintenance. The Chiliz Chain’s CAP20 standard is designed to improve token functionality, security, and interoperability within the Chiliz ecosystem, which powers fan engagement platforms like Socios.com. For holders of ACM, ASR, ATM, and BAR tokens, the upgrade ensures continued access to voting rights, rewards, and other fan-centric utilities tied to their respective clubs. The move also reflects a broader industry trend where exchanges and blockchain projects coordinate to maintain network health and user asset security. Binance’s proactive support reduces the risk of token loss or confusion during the migration period. What Users Should Do For most Binance users, no immediate action is required. However, the exchange recommends that anyone holding these tokens review their account status before the May 11 cutoff. Users who have deposited tokens after the suspension period may experience delays until the swap is completed and services resume. Binance has not yet announced a specific timeline for when deposits and withdrawals will reopen, but such migrations typically complete within a few days. Users are encouraged to monitor official Binance and Chiliz channels for updates. Conclusion Binance’s support for the Chiliz fan token contract swap represents a coordinated effort to upgrade the underlying infrastructure of popular sports-related digital assets. While the temporary suspension of deposits and withdrawals may cause minor inconvenience, the long-term benefits include improved security and functionality for token holders. As always, users should verify the status of their assets and remain informed through official channels. FAQs Q1: Do I need to do anything if I hold ACM, ASR, ATM, or BAR tokens on Binance? No. Binance will automatically handle the contract swap for tokens held in your exchange wallet. No action is required from you. Q2: Will trading be affected during the swap? Binance has indicated that trading pairs for these tokens are expected to remain operational. Only deposits and withdrawals will be temporarily suspended starting May 11 at 1:00 a.m. UTC. Q3: What happens if I send tokens to Binance after the suspension starts? Deposits initiated after the suspension will not be credited until the swap is complete and services resume. It is advisable to wait until Binance announces that deposits and withdrawals have been reopened. This post Binance to Support Chiliz Fan Token Contract Swap: What Holders Need to Know first appeared on BitcoinWorld .