Cryptocurrency exchange Coinbase has published its financial report for the second quarter of 2024. According to the published data, the company received revenue of $1.45 billion.
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Compared to the same period in 2023, the mentioned figure has more than doubled. At the same time, revenue decreased by 11% compared to the results of the first quarter of 2024 – $ 1.6 billion.
Coinbase's net profit showed a radical decrease and amounted to $ 36 million. For comparison, in the previous reporting period this figure reached $ 1.18 billion.
One of the key sources of income in the form of fees from consumer transactions decreased by 29% and amounted to $ 665 million. In addition, trading volume fell by 28%.
At the same time, revenue from subscriptions and services increased significantly, increasing by 17% compared to the previous quarter and reaching $ 599 million.
10% of total transaction-related income came from transfers with the Solana asset (SOL).
In addition, Coinbase's revenue from stablecoin transactions increased. The figure increased to $240.4 million compared to $197.3 million in the first quarter of the year.
- Cryptocurrency