"Coinbase's Quarterly Profit Soars Amid Bitcoin ETF Frenzy"
TL;DR Summary
Coinbase Global posted its first quarterly profit in two years, earning $273 million in profits during the fourth quarter, well above analyst expectations, due to increased trading and client growth. The company benefited from a market rally triggered by speculation about SEC approval for bitcoin exchange-traded funds, and eventually served as custodian for eight of the 11 approved ETFs. Despite legal challenges with the SEC, Coinbase's CEO remains confident in the future of crypto and is actively lobbying for regulatory clarity.
- Coinbase rides bitcoin ETF frenzy to first quarterly profit in 2 years Yahoo Finance
- Coinbase Global Reports Earnings Today. Here’s What to Expect. Barron's
- Coinbase’s stock soars after crypto platform swings to profit MarketWatch
- Coinbase swings to profit on interest income strength Nasdaq
- Coinbase beats Q4 estimates as transaction revenue rises to $529 million The Block
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