Crypto exchange Coinbase ($COIN@US) has reported a narrower net loss in the first quarter, falling to $79 million compared to $557 million in the fourth quarter of 2022, as it saw a 22 percent increase in revenue to $736 million, driven in part by strong earnings from retail investor trading activity. Coinbase's transaction revenue from institutional clients rose by 66 percent to over $22.3 million, while transaction revenue from retail investors increased by 14.1 percent to $352.1 million. Interest income and blockchain rewards from staking were the main contributors to revenue for the quarter. Coinbase said the first quarter figures marked a "turning point" toward building a more "efficient" and "financially disciplined" firm.