TL; DR
Full story
Even more good news in crypto:
This week, Coinbase hit its highest stock price in almost two years.
That may not feel like big news, but it is a positive indication for the crypto industry as a whole.
This is what happened:
Coinbase released their Q4 2023 earnings report, and for the first time in seven quarters, they had… they had net income…$273 million in net revenues.
Okay, so why is this a crypto-wide indicator?
Coinbase’s main source of revenue comes from transaction fees.
That is, people are buying and selling more crypto on the platform than ever before – and this was all during the last three months of 2023…
That means we’re just getting started:
Coinbase’s fourth quarter earnings report doesn’t even take into account the custody fees for the 8 spot bitcoin ETFs they host, or the 20% increase in the crypto market cap since early 2024!
It looks like this could be a fantastic first quarter for crypto and for Coinbase.
Yes Yes!!