Coinbase turned profitable in Q4 2023 for the first time in two years, driven by the growth of the crypto market. The company's revenue for the quarter surged by 51% to $953.8 million, surpassing expectations. Net profit reached $273 million. The stocks rose by over 13% 📈.
Profitability is attributed to the increase in revenue from user commissions, reaching $492.5 million, and institutional transactions, reaching $36.7 million. Coinbase remained committed to a long-term approach, adhering to regulations.
