$Coinbase Global, Inc.(COIN)$earning report this quarter is not great. BTC is selling off at the beginning of March, down about 35%,  and from all time high, down about 55%.

This contribute to coinbase selling pressure since then. YTD for coin base is down 80%, IPO level drop 90%.

Revenue earning is a disaster this quarter as compared to previous quarter.

Key business Metrics:

Monthly Transaction Users - down 2.4M

Trading Volume - down 138B

Assets on Platform - down 22B

Financial Metrics:

Net Revenue - down 1,325M

Net Income - down 1,270M

Adjusted EBITDA - down 1,185M

Next quarter guidance:

-MTU will be lower in Q2 compared to Q1

-Total trading volume will be lower in Q2 compared to Q1

Subscription and service revenue will be similar to modestly lower in Q2 compared to Q1

Unfortunately, I personally feel that currently this is not an opportunity to buy the shares. The company need to prove itself that it can continue to grow it's revenue, free cash flow and earning over time.

We will also need to take BTC into consideration because BTC largely impacting Coinbase price movement and fundamental.

But of course, if you are someone who is bullish in BTC over the long term, and do see that there is value in crypto currency. You can consider having a small percentage allocation.