Coinbase Earnings Unveil a New Identity:
More Than Just an Exchange Coinbase earnings and how they show the company is now much more than just an exchange. Coinbase is a leading U.S. cryptocurrency exchange that offers a variety of services and products to its customers, such as trading, custody, staking, lending, and more. Here are some highlights from their latest quarterly […]
-
by Mike Adams
Share on:
More Than Just an Exchange
Coinbase earnings and how they show the company is now much more than just an exchange.
Coinbase is a leading U.S. cryptocurrency exchange that offers a variety of services and products to its customers, such as trading, custody, staking, lending, and more. Here are some highlights from their latest quarterly report:
- Coinbase reported revenues of $708 million and adjusted earnings of a loss of $0.42, beating analyst estimates of revenues of $686 million and a loss of $0.51.
- Coinbase saw a 13% cut in operating expenses from the last quarter and a 3% boost in its cash reserves to $5.5 billion.
- Coinbase’s subscription and service revenue matched its trading revenue in the first half of 2023, indicating a shift from a trading firm to a service broker.
- Coinbase’s interest income fell by 16% from the last quarter to $201 million, partly due to a 28% decrease in the USDC stablecoin market cap. Coinbase holds a stake in Circle, the issuer of USDC, and earns interest from the stablecoin reserves.
- Coinbase has successfully reduced its dependence on trading fees, which consume about 15% of its revenues. The company has diversified its income sources by offering other features such as staking, lending, debit cards, and institutional services.
These results show that Coinbase is now much more than just an exchange. It is a platform that provides a comprehensive suite of services and products for the cryptocurrency industry. Coinbase also has a strong position to leverage the increasing demand for crypto assets and innovation in the blockchain space.
How does Coinbase ensure security of its platform?
Coinbase employs several security measures to ensure the safety of its platform. These include an offline storage mechanism that allows the platform to keep up to 98% of their money supply off the web, 2FA for user security, all internet traffic is only channeled through encrypted SSL medium, and private keys and wallets for further security.
Experienced Developer with a demonstrated history of working in the computer software industry.
Tim Cook, iPhone 16, and the Crypto Scam That Fooled Many
The world of technology is ever-evolving, with innovations coming at us faster than we can keep up. But with that comes the darker side of tech—scams and digital trickery. Just recently, during the much-anticipated iPhone 16 launch, scammers played a risky game, and the victim of their deceit was none other than Apple CEO Tim […]
TapSwap Daily Codes for September 9, 2024
TapSwap is not just your ordinary gaming app. It has quickly risen through the ranks of mobile games to become a fan favorite, thanks to its unique blend of gaming and earning. While you can enjoy challenging puzzles, exciting rewards await you after each victory. Best of all, TapSwap introduces a novel way to earn […]
Jason Derulo Crypto Dream Fizzles Out
The cryptocurrency world has always been a rollercoaster, but meme coins took things to a whole new level. With social media fueling their rise, meme coins like Dogecoin and Shiba Inu became household names almost overnight. Enter Jason Derulo, the singer who caught the meme coin fever and jumped on the bandwagon like many others. […]
Most read
