Coinbase reports higher fourth-quarter profit on crypto rally

Quick Summary:

:Crypto exchange Coinbase reported a steep rise in fourth quarter profit on Thursday, driven by higher trading volumes in bitcoin and other tokens following the U.S.election.

The profit included $476 million in pre-tax gains on crypto asset investment portfolio.

Total revenue rose to $2.3 billion from $953.8 million a year before.The company earned $1.29 billion, or $4.68 per share, for the three months ended December 31, compared with $275.7 million, or $1.04 per share, a year earlier.

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Category: EconomyBusiness

Markets: Singapore

Topics: Share Quarter Million Election Year Crypto Mediacorp Billion Bitcoin Coinbase Profit

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-14 @ 05:17:31 (5 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 191 words

Reading Time: 2 minutes read

Sentences: 18 lines

Sentence Length: 11 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 26131036

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