Coinbase Reports $2.3 Billion Revenue for Q4 2024 and Global Expansion
Coinbase reported $2.3 billion in revenue for Q4 2024, with a net income of $1.3 billion, leading to a 10% stock price increase. The company is expanding into Argentina and reestablishing ties in India. Recent successes in meme coins have alleviated concerns regarding the impact of Coinbase’s listings.
- The Q4 2024 Shareholder Letter emphasizes goals for revenue growth, utility increase, and infrastructure scaling.
- Coinbase views this period as crucial for crypto and aims to leverage new opportunities.
- The report credited the Trump administration for creating significant prospects for the crypto industry.
- CEO Brian Armstrong is engaging with political leaders to influence US crypto regulations.
- Recent testimonies from Coinbase's Chief Legal Officer before Congress indicate increased attention to regulatory concerns.
- Future strategy includes plans for continued growth in 2025.
Coinbase believes it is entering a new era in crypto, aiming to shape its future significantly.