Coinbase's Q1 Earnings Report Boosts Shares Despite Regulatory Concerns.
Coinbase shares surged by over 18% after CEO Brian Armstrong announced in an earnings call that the exchange had a "turning point" quarter in Q1 2023, with 22% net revenue growth and a 24% decrease in operating expenses compared to the previous quarter. Armstrong also noted positive adjusted EBITDA in Q1 and emphasized the company's resilience in the face of crypto market cycles.