Reported 27 days ago
Coinbase Global announced a profit for the third quarter, bolstered by significant trading volumes as cryptocurrency gains traction in mainstream investing following regulatory approvals. Trading volumes surged to $185 billion, greatly enhancing transaction fees, with total revenue hitting $1.21 billion, nearly double from the previous year. The company's revenue from subscription and services increased as well, while net income reached $75.46 million, a remarkable turnaround from a loss a year prior. The shifting sentiment around crypto, influenced by the upcoming 2024 elections, has positioned Coinbase favorably in the market.
Source: YAHOO