Coinbase's CFO, Alesia Haas, defended the rising costs of the cryptocurrency exchange and the volatility of the digital asset industry. Despite the company's better-than-expected Q1 performance, the stock price still fell.

In an interview on Friday, Haas said that when we see high trading volumes (a sharp increase in trading volume in March), we often have a lag effect on customer support costs because we will allocate personnel to these teams to deal with the resulting queue, so this will be reflected in the second quarter.

She said that the largest cryptocurrency exchange in the United States also faces rising infrastructure costs and increased spending related to the company's USDC stablecoin reward program, but she pointed out that the company will develop cautiously. We learned a painful lesson in 2021 and 2022 when we developed too quickly. In January 2023, Coinbase laid off 20%, just a few months after a large-scale layoff in June 2022.

Regarding memecoins, Haas said this is part of the creative content. This is just part of the process.

Haas commented on the recent drop in Bitcoin, saying that this is just an ordinary day in the cryptocurrency field and does not mean that the long-term outlook will not continue to be optimistic, as it was last week.