Coinbase has reiterated its stance on the growing competition from Wall Street firms entering the cryptocurrency market.
In an interview, Katie Harries, Coinbase's head of European policy, stated that the exchange is 'not at all' worried about the involvement of traditional financial institutions in digital assets. She emphasized that the company's community-driven approach is its biggest competitive advantage and cannot be replicated by banks or other institutions.
Coinbase has reported a first-quarter loss of $1.49 per share, exceeding analyst expectations of a $0.27 profit. The exchange also announced plans to cut around 14% of its workforce in early May 2026.