Coinbase’s profit, revenue surge during Trump-inspired rally

Revenue jumped to $2.27 billion for the fourth quarter, well above the $1.87 billion expected by analysts surveyed by Bloomberg. Net income surged to $1.29 billion, or $4.68 a share, also above estimates.

Coinbase benefited from a massive rally that surrounded pro-crypto President Donald Trump’s return to power. Demand for the Circle’s USDC stablecoin, from which Coinbase receives a share of revenue, helped to fuel growth as well.

Shares of Coinbase were little changed in late trading.After becoming the first major US crypto company to be listed on an exchange almost four years ago through a direct listing, Coinbase’s market value has swelled to more than $74 billion. The shares jumped 600% in the prior two years as the crypto sector recovered from a series of scandals and bankruptcies, such as the collapse of the FTX exchange in 2022.

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