Coinbase Anticipated to Report $2 Billion Revenue in Q4 2024, Fueled by Post-Election Trading Surge

San Francisco, CA – According to a Coin Metrics report released on February 11, Coinbase is projected to report approximately $2 billion in revenue for the fourth quarter of 2024. This figure represents a 109% year-over-year and 65% quarter-over-quarter increase. The surge is attributed to a resurgence in trading activity following the U.S. election, with Coinbase's trading volumes reaching $430 billion, the highest since 2021. Kaiko reported on February 10 that Coinbase saw weekly trading volumes tap their highest levels in two years during the fourth quarter of 2024. Shares of Coinbase's stock, COIN, are up roughly 40% since November 5. The growth in USDC supply reflects increased onchain activity as well as Coinbase's efforts to promote the stablecoin, including by offering some 4.5% interest on certain USDC holdings. Coinbase's Q4 2024 earnings report is scheduled for February 13.