Coinbase Revenue Surges more than 130%, Driven by Postelan Crypto Rally

Coinbase on thursday reported better-to-exposed Fourth -Quarter Results And its biggest quarterly revealed in three years, strengthened by a ragging postellation rally that pushed crypto prices to new high high after new high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high high.

The stock rose 2% in extended trading.

Here’s what the company is reported for the fourth quarter compared with what wall street expected, according to a survey of analysts by lseg:

• Earnings per share: $ 4.68 vs. $ 1.81 Expected
• Revenue:$ 2.27 billion vs. $ 1.88 billion expected

Coinbase, which operates the largest us marketplace for buying and seling cryptocurrencies, reported net income of $ 1.3 billion, or $ 4.68 per share, Compared with $ 273 Million, or $ 1.04 c. E period a year ago.

It also posted revenue of $ 2.3 billion, compared with $ 953.8 million in the same period a year ago. Transaction Revenue More

Total Trading Volume was $ 439 Billion, up 185% Year Over Year. Consumer Trading Volume Rose 224% from the same period a year ago, while institutional trading volume increase 176%.

“The Majority of the Y/Y Growth in Trading Volume was driven by Higher Levels of Crypto Asset Volatily – Particularly in Q1 and Q4 – As well as higher Crypto asset PRICES,” Older Letter. “The Two Primary Factors Underpinning This Strongeer Macroeconomic Factors Were the Launch of the Bitcoin ETF Products in Q1’2’24, and the Election of a Pro-Crypto PRESIDENT and CRIPTO PRESIDENT CTATION OF Regulatory Clarity – Both of which resulted In Elevated Spot Crypto Trading Activity, “The company also said.

Looking ahead

Coinbase Reported it has generated $ 750 Million in Trading Revenue through Feb. 11. Trading revealed is expected to be in the mid- to high teens as a percentage of network for the current Quarter.

Coinbase said it is making efforts to diversify its revival streams away from trading. As of the fourth Quarter, Trading Makes Up 68.5% of Its Total Revenue, with Most of It Coming from Retail traders.

Revenue from its subscription and services business, which incluses stablecoins, staking, custody and its coinbase one product, is expected to be betteren $ 685 Million and $ 765 Million for the corner Er.

Coinbase also expects the USDC Stablecoin, which is Issued by Circle and has a revneue sharing agreement with coinbase, to drive a Quarter-Over-Quarter Increase in Sales and Marketing Expenses in the first Quarter.

Chief Financial Officer Alesia Haas Told CNBC that UsDC is poised for growth in a post-stablecoin legislation world, with Congress expected to pass a stablecoin bill this year.

“We can drive utility in this where we can drive more trading pairs on our own platforms denominated in usdc, which drives the liquidity, and the more liquidity you have in allies, that driving more adoptation,”

CEO Brian Armstrong said on the earnings call that the company has a “Stretch goal to make usdc the number 1 stablecoin.”

“Usdc has a network effect behind it, and the compliant approach that they’ve taken is going to be really defensible long term,” He said. UsDC Currently Makes Up About 26% of the Total Market Cap for Stablecoins, Behind Tether’s 67%.