Bitcoin ETF Sparks Coinbase's Record Q4 Profit 💰
Cryptocurrency giant Coinbase hits $273 million in net income in Q4, its first profit in two years, fueled by new Bitcoin ETF approvals in the US. Discover how this boost is shaping the crypto landscape!
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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.
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Feb 16, 2024
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