Coinbase (NASDAQ: WHAT?) stocks continue to decline after the crypto exchange went through a major service disruption.
The outage, which lasted more than six hours, disrupted several platform services, leaving users unable to access trading services, manage their portfolios, and complete other account-related tasks.
Hopefully, the disruption has created a lot of interest in the entire financial sector, as Coinbase is known to be a leader. crypto exchange platform.
An early Reuters report meaning that the problem may be related to problems similar to About Amazon (NASDAQ: Price AMZN) data area in Virginia.
At press time, COIN shares were down 2.53% on the daily chart and up 2.57% on the pre-market on May 8, where they settled at $188.
Coinbase has been hit by a flurry of mixed quarterly reports
The exit came back shortly after Coinbase said a first quarter a net loss of $394.1 million, compared to a profit of $65.6 million a year earlier. Unsurprisingly, the result shows a significant decline in crypto trading that weighed down the sector in early 2026.
“The fundamental conditions were really tough. The overall risk of the crypto market and the volume of crypto transactions were both down more than 20% quarter over quarter,” Chief Financial Officer Alesia Haas said during the company’s earnings call.
In addition, transaction fees, one of the main drivers of the platform’s revenue, fell by at least 40% year-on-year due to the low price of the crypto market and the volume of transactions.
In response, Coinbase announced a series of cost-cutting measures, including layoffs and new foreign business models. Overall, management managed to reduce operating costs by 30%.
Earlier this week, Coinbase already cut about 700 jobs (14% of its global workforce), trying to reduce costs and reposition itself as it prepares to search for creative ideas.AI).
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