Coinbase reports record $2.3 billion quarterly revenue
Coinbase reports record $2.3 billion quarterly revenue
U.S. cryptocurrency exchange Coinbase reported a stellar fourth-quarter and full-year performance that surpassed market expectations.
Key Takeaways
- Coinbase reported Q4 revenue of $2.3 billion, net income of $579 million, and full-year revenue of $6.6 billion.
- Q4 transaction revenue increased 172% to $1.6 billion while USD liquidity rose to $9.3 billion.
- COIN shares increased 16% in 2025 and 112% over the past year, with a market cap over $73 billion.
- The company expects benefits from a more crypto-friendly regulatory environment and is pushing to ease banking restrictions.
The company recorded quarterly revenue of $2.3 billion—up significantly from $953.7 million during the same period last year—and a net income of $579 million. Transaction revenue in Q4 surged 172% quarter over quarter, reaching $1.6 billion compared with $529 million in the prior-year quarter. For the full year, Coinbase’s revenue soared to $6.6 billion, more than doubling 2023’s total of $3.1 billion. The exchange ended Q4 with $9.3 billion in USD resources, up from $8.2 billion in the previous quarter. These impressive figures contributed to a 16% increase in COIN shares in 2025, with shares rising approximately 112% over the past year, pushing the market cap to just over $73 billion.
Coinbase's Q4 2024 financial report. Sourse: Сoinbase
Regulatory shifts and future outlook
In its annual shareholder letter, Coinbase declared, “It’s the dawn of a new era for crypto.” The company highlighted that crypto’s growing influence in U.S. elections and a shift toward a more crypto-friendly regulatory environment are likely to benefit the industry. Coinbase anticipates that easing of regulatory constraints will help drive further market expansion, especially as policymakers move to clarify crypto banking rules. Earlier this month, Coinbase reached out to the Federal Reserve, FDIC, and the Office of the Comptroller of the Currency to address what it describes as “unilateral and undemocratic” restrictions that have impeded banks from offering crypto services—a practice, according to Coinbase’s chief policy officer Faryar Shirzad, that “needs to end.”
Loading...
Looking ahead, Coinbase expects that the evolving regulatory landscape and continued industry innovation will bolster market confidence and fuel further growth. As the U.S. government appears poised to embrace digital assets more openly, investors and industry participants will be closely watching how these dynamics reshape the cryptocurrency market.
Additionally, Coinbase is negotiating its return to the Indian market.
