Coinbase Quarterly Revenue Surges 88% To $2.27 Billion In Q4

Coinbase Revenue Surged 88% In Q4, Beating Analyst Expectations

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Updated: 14 February 2025

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Revenue for US-based crypto exchange Coinbase surged 88% to $2.27 billion in the fourth quarter to beat analysts’ expectations.

The better-than-expected quarterly performance boosted the price of Coinbase shares more than 8% yesterday to $298.11. However, Coinbase stock (COIN) has since undergone a more than 2% retracement in pre-market trading, according to Google Finance data.

Coinbase Records Strongest Quarter In Over A Year

Coinbase released its Q4 2024 financial results on Feb. 13, which showed the leading US centralized exchange posted its best quarterly performance in over a year. The company also achieved a net income of $1.3 billion, which also exceeded experts’ forecasts. This net income included $476 million in pre-tax gains on its crypto investment portfolio.

According to Coinbase CEO Brian Armstrong, “2024 was a strong year for crypto and for Coinbase.” This seems to be the case, as the company’s balance also strengthened to $9.3 billion at the end of the fourth quarter last year, marking a $1.1 billion increase from the previous quarter.

Our Q4 and FY 2024 financial results are now live. pic.twitter.com/R5LuW7pwI9

— Coinbase 🛡️ (@coinbase) February 13, 2025

Coinbase posted $225.9 million and $214.9 million in stablecoin revenue and blockchain rewards revenue as well, according to the financial results.

Coinbase CEO Anticipates “New Era For Crypto”

During the 2024 fourth-quarter earnings call yesterday, Armstrong said that it is the “dawn of a new era for crypto” in the US. He also predicted that “up to 10% of global GDP could be running on crypto rails by the end of this decade.”

He went on to compare the current movement of companies trying to integrate with crypto to the early 2000s when everyone was trying to figure out how to adapt to the internet. As such, he believes that “onchain is the new online.”

Should Armstrong’s position become a reality, it would mean that $10 trillion in value will be tokenized on the blockchain. This is based on today’s GDP of $100 trillion.