Coinbase has reported a robust Q1 2024, with a total revenue of $1.6 billion and net income of $1.2 billion, benefiting from $737 million in pre-tax unrealized gains on crypto assets. The firm ended the quarter with $7.1 billion in capital, including $1.1 billion in net cash raised through the sale of 2030 convertible notes. Revenue from consumer transactions surged by 99% quarter on quarter to $935 million, while institutional transactions saw a 133% increase. The exchange also saw a 64% rise in revenue from custodial services, reaching $32 million, primarily driven by crypto assets prices and revenue from Bitcoin ETFs.