TL;DR
Full Story
More good news in crypto:
This week Coinbase hit its highest share price in nearly two years.
Which may not feel like big news, but it’s a positive indication for the crypto industry as a whole.
Here’s what happened:
Coinbase posted their earnings report for Q4 2023, and for the first time in 7 quarters, they…they had net income…$273M of net income.
Okay, so why is this a crypto-wide indicator?
Coinbase’s main source of income comes from transaction fees.
I.e. People are buying and selling more crypto on the platform than they had been — and this was all during the last three months of 2023…
Which means we’re just getting started:
Coinbase’s Q4 earnings report doesn’t even account for the custodian fees for the 8 spot bitcoin ETFs they host, or the 20% rise in crypto market cap since the start of 2024!
This is looking like it could be a stellar Q1 for crypto, and for Coinbase.
Yeehaw!!
