May 8 (Reuters) - Crypto exchange Coinbase COIN.O reported a drop in first-quarter profit on Thursday as costs rose.
The company earned adjusted net income of $526.6 million, or $1.94 per share, for the three months ended March 31, compared with $697.2 million, or $2.53 per share, a year earlier.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Anil D'Silva)
((JaiveerSingh.Shekhawat@thomsonreuters.com;))
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