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Coinpaprika 2025-02-14 08:26:30

Coinbase Reports $2.3B Revenue, Expands Globally, Backs US Crypto Rules

Coinbase has reported $2.3 billion in revenue for Q4 2024, with a net income of $1.3 billion. This strong performance caused its stock price to jump by 10% following the announcement. The company continues to expand, making moves into Argentina and reestablishing ties in India. Additionally, recent meme coin successes have helped counter speculation that Coinbase’s listings are losing impact. The company’s Q4 2024 Shareholder Letter highlights ambitious goals, emphasizing its commitment to growing revenue, increasing utility, and scaling its infrastructure. Coinbase sees this as a critical moment for crypto and believes it is well-positioned to take advantage of new opportunities. The report also praised the Trump administration for creating what it called “unprecedented” chances for the crypto industry. Coinbase has openly stated its intent to influence US crypto regulations actively. CEO Brian Armstrong has been engaging with political leaders, signaling his willingness to cooperate with future legislation. This has already had an impact, particularly in Coinbase’s battle with the FDIC over Operation Choke Point 2.0. With Trump’s appointed Crypto Czar investigating the case, the federal government is now taking Coinbase’s concerns more seriously. Coinbase’s Chief Legal Officer recently testified before Congress on the issue, a development that would have seemed unlikely just months ago. While the Shareholder Letter does not go into great detail about this relationship, it does acknowledge Trump’s role early on. Aside from politics, the report primarily focuses on the company’s financial performance and future strategy . It highlights key figures such as total annual revenue and outlines plans for continued growth in 2025. Coinbase’s strong Q4 results reinforce its belief that crypto is entering a new era, and it aims to play a major role in shaping its future.

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