Coinbase Achieves $1.4 Billion Revenue in Q2 as Crypto Industry Sees Regulatory Progress
In Q2 2024, Coinbase reported $1.4 billion in revenue, demonstrating growth despite a 27% drop in transaction revenue to $781 million.
The company benefited from a 17% increase in subscription and services revenue, totaling $599 million, contributing to a net income of $36 million. Coinbase faced $319 million in unrealized crypto asset losses but focused on innovation, with a 300% rise in transactions on its Base platform and new smart wallet features.
The company advanced U.S. crypto regulation by supporting the “Stand With Crypto” initiative and welcomed developments like Ethereum ETFs and USDC compliance with the EU’s MiCA framework.
Clever Robot News Desk 4th August 2024
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