Crypto exchange Coinbase posts smaller first-quarter loss

(Reuters) - Coinbase Global Inc posted a smaller first-quarter loss on Thursday after investors tiptoe back to the strained asset class to hedge their bets against a worsening economic backdrop.

The San Francisco-based company's net loss narrowed to $79 million in the three months ended March, from $430 million in the year-ago quarter.

(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Maju Samuel)