Coinbase income rises to $ 2.3 billion such as Bitcoin Booms and Retail returns

The election of a new supreme commander benefited from Coinbase last quarter.

The exchange reported one stronger than expected quarter for profit and turnover on Wednesday as the transaction income rises 270% in addition to last year’s presidential election.

Revenues derived from transaction costs, which are generally good for a majority of the Coinbase sales, achieved $1.56 billion in Q4, on from $572.5 million the previous quarter, when the customers of the stock exchange Apparently become less involved In the summer.

In the midst of the recent Handelsboom, the total turnover of Coinbase rose to $2.3 billion, from $954 million a year ago and exceeded the expectations of Wall Street of $1.84 Billion, according to FactSet data.

A profit per share of $4.68Coinbase revealed $1.3 Billion in Q4 win, more than doubling analysts $2.11 estimation.

President Donald Trump’s re -election in November sent the prize of Bitcoin and other cryptocurrencies rise. But Coinbase shares also emerged as a big winner and gathered to a highlight of three years of $349.75 Per share in December.

In trade after hours of rose coinbase shares 2% to around $ 304. Exchange’s stock price based in San Francisco has risen 112% in the past year.

“You have a pro-Crypto federal government that moves quickly to deliver pro-Crypto legislation,” Coinbase Vice President of Investor Relations Anil Gupta told Decrypt. “There will be so many possibilities that are unlocked with this new regime.”

Trump’s promise to put an end to a “non-American“Acquiring against the Crypto industry could have major consequences for Coinbase, which was sued by the SEC in 2023 due to alleged effect as a non -registered stock exchange. The case is still underway, but was frozen By a federal judge in New York last month because of conflicting statements in other crypto-related matters.

Trump tapped Paul Atkins, a former SEC commissioner, to lead the agency. In anticipation of the confirmation of Atkins, acting sec chairman Mark Uyeda has unveiled A Task Force for the preparation of clearer rules, the selection of SEC commissioner Hester Peirce, a crypto lawyer, to lead the initiative.

In a shareholders’ letter, Coinbase said that a new regulation environment would probably strengthen its business model and describe the shift as “the dawn of a new era for crypto. “

While coinbase one 141% Increase in the total turnover on an annual basis, $ 2.3 billion just became shy for a record -breaking performance for the stock exchange. During the peak of the Bullmarkt of the Pandemic era in the fourth quarter of 2021, Coinbase had $2.5 billion in sales.

While the markets cooled in 2023, Coinbase embraced subscriptions and service income as a way to diversify its activities. That figure includes income from reserves Backing Circle’s USDC Stablecoin. Coinbase taken A share interest in the circle in August 2023.

Coinbase revealed on Thursday that the income from the Stablecoin arrived at $226 million, consecutive consecutive $246 million, and upwards $ $172 million a year ago.

Coinbase’s subscription and service segment, which also includes, also includes the EXChange deployment and guardianship products, Rose 14% Quarter-over Quarter to a record of $ 641 million.

With last year’s approval Spot Bitcoin and Ethereum ETFsAmerican investors have received more options to invest in large cryptocurrencies. Coinbase serves as a preservator for many of such products, but it has effectively placed the company in competition with brokers.

“We are not in a world where it is a Zero-Sum game,” said Gupta. “We grow the number of people who end up in crypto. And I think that will be net positive. “

In the first quarter of last year, in addition to the approval of Spot Bitcoin ETFs, Coinbase $ reported312 billion in trade volume. In the current quarter, trade volumes were clocked at $439 billion, rising 185% of $154 billion a year earlier.

Published by Andrew Hayward

Note of the editors: This story was updated after publication to add comments from Coinbase.