Why did Coinbase lose 7% in the first quarter?

As a keen observer of the cryptocurrency and finance industry, I'm puzzled by Coinbase's recent performance. Could you elaborate on the reasons behind the company's 7% loss in the first quarter? Has there been a significant drop in trading volumes? Are there any regulatory pressures or compliance issues that may have contributed to this? Additionally, is there a lack of new user growth or a decrease in customer retention? I'm keen to understand the factors that have led to this downturn and how Coinbase plans to address them in the coming quarters.