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Coinbase delivered a blockbuster fourth-quarter performance, reporting $2.3 billion in revenue, exceeding analyst expectations by 23%. This marks an 88% jump from the previous quarter, fueled by a 172% surge in transaction revenue to $1.6 billion. Subscription and services revenue also saw steady growth, reaching $641 million. The crypto exchange benefited from rising digital asset prices and increasing adoption of services like staking, custody, and USDC assets.
Strong market activity and growing interest in crypto helped Coinbase more than double its total revenue to $6.6 billion for 2024, with net income hitting $2.6 billion. The company reported $3.3 billion in Adjusted EBITDA and ended the year with $9.3 billion in USD resources. The expansion of Coinbase One and institutional services contributed to its robust financials.
Strategic initiatives across Base, Coinbase One, Prime Financing, and international markets played a key role in revenue diversification. With Bitcoin and Ethereum prices climbing, Coinbase’s strong performance highlights the growing mainstream adoption of crypto and the platform’s leadership in the industry.
