šCoinbase Q1 2024 earnings are out, and they're stellar! š° Revenue hit $1.6B, up 72% QoQ.
š The boost? Rising crypto prices and the launch of spot Bitcoin ETFs in the U.S.
š Net income reached $1.18B, $4.40/share, translating to $1B in adjusted EBITDA.
š„ Coinbase's Ethereum Layer2 chain, Base, raked in $56.1M in revenue since its launch.
š Consumer transaction revenue doubled to $935.2M, and volume mirrored this, growing 93% to $56B.
š¦ Coinbase's custodial services revenue jumped 64% to $32M, thanks to the launch of spot Bitcoin ETFs.
š Bitcoin accounted for a third of consumer and institutional transactions.
š£ļø What's your take on these numbers? Share your thoughts below! #CoinbaseEarnings #CryptoNews