Prominent cryptocurrency exchange Coinbase has released its financial results for Q4 and the full year 2024. The crypto exchange demonstrated successful growth in various fields which resulted in a solid performance during the year. Coinbase made huge revenue, out of which, $2.6 billion was net income.
Coinbase Posts $6.6 Billion Revenue in 2024, $2.3B in Q4
The total 2024 revenue for Coinbase amounted to $6.6 billion. Net income stood at $2.6 billion. The company accomplished its second year of recording positive adjusted EBITDA and reached $3.3 billion in earnings. The business segments that operated on subscription models and services generated $2.3 billion along with its USD resources that reached $9.3 billion.
The final period of the year brought exceptional performance. Total revenue for the period reached $2.3 billion while net income reached $1.3 billion. During this quarter Coinbase achieved its best adjusted EBITDA record at $1.3 billion.
Coinbase attained its success through intense involvement from institutional investors. Coinbase reached $220 billion as the value it managed in its custodial accounts. The quantity of institutional trading activity increased by 128% during the last quarter compared to the previous one. The total inflows from exchange-traded funds (ETFs) set a new record during this period that boosted ETF assets under custody to $93.2 billion.
Coinbase Expands International Exchange with 92 New Assets
Stablecoin adoption soared in 2024. USDC market capitalization expanded by 79% throughout 2024 while it achieved a 22% growth during the previous quarter. USDC payments processed on the blockchain demonstrated 225% growth from the previous year while achieving the title of highest-growing major USD stablecoin in 2024.
Trending Now: Crypto.com Expands Crypto Services Across All EEA States
Another milestone occurred as Coinbase added its international exchange with 92 additional assets. The markets in Brazil along with Canada and Singapore demonstrated the most significant expansion during that period.
Crypto advocacy gained momentum. The total count of people supporting crypto-friendly policies exceeded 2.1 million citizens. A total of 355 pro-crypto candidates succeeded in winning their elections with 80% success rate. Federal Representatives in the United States House supported pro-crypto legislation through their backing of 278 bipartisan measures.
The 2024 financial performance of Coinbase showcases expanding user base together with rising institutional confidence and regulatory advancement. The company remains focused on expanding its services and strengthening the crypto economy.