Coinbase Q4 2024 Earnings Soar Amid Post-Election Crypto Rally, Revenue Reaches $2.3 Billion

Coinbase reported a stellar Q4 2024 on February 13, driven by a post-election crypto market surge. Total revenue hit $2.3 billion, significantly up from $953.7 million in the same period last year, with net income reaching $1.3 billion, exceeding analyst expectations. Trading volume reached $439 billion, surpassing estimates of $404 billion. Consumer transaction revenue increased by 178% quarter-over-quarter to $1.35 billion, while institutional revenue rose 155% to $141.3 million. The surge was fueled by increased crypto asset volatility and higher average prices, particularly after the election of US President Donald Trump, who has pledged to make the US the "world's crypto capital." Coinbase shares closed up 8.44% on February 13, although they saw some volatility in after-hours trading. Full-year revenue more than doubled 2023's total, reaching $6.6 billion. Coinbase ended Q4 with $9.3 billion in USD resources, up from $8.2 billion in the previous quarter.