Coinbase Turns To AI For Unstoppable Crypto Domination: Here's What You Need To Know

Coinbase Global Inc. COIN is examining the potential of artificial intelligence (AI) and its possible applications across the company, according to CFO Alesia Haas. 

In an interview with Bloomberg following the release of the crypto exchange's first-quarter results, Haas acknowledged the growing interest in AI and confirmed Coinbase is actively exploring opportunities in the field.

As the largest U.S. cryptocurrency exchange, Coinbase aims to utilize AI in enhancing customer experiences in a cost-effective manner.

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In a blog post from October, the company discussed employing machine learning to combat fraud and bolster the security of its trading platform.

In the first quarter, Coinbase reported a loss of $79 million, a significant improvement from the $429.7 million loss in the same period last year.

Revenue surpassed expectations, and the company's shares increased by approximately 8.3% in after-hours trading.

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