Bitcoin ETF Boosts Coinbase's Q4 Performance as Crypto Exchange Earns $273 Million in Net Income

  • 5 months ago
Cryptocurrency exchange Coinbase reported its first quarterly profit in two years for the fourth quarter, following new bitcoin ETF approvals in the US. Coinbase earned $273 million in net income for the fourth quarter, up from a loss in the prior year period, beating analyst estimates. Transaction revenue jumped 64% to $529 million as trading volumes increased on the Coinbase platform. Approval of spot bitcoin ETFs in January widened the potential investor base and boosted crypto prices like bitcoin above $52,000.