On May 2, 2024, Coinbase Global, Inc. held a conference call to discuss its financial results for the first quarter of 2024, which ended on March 31, 2024. The company reported significant financial growth, with $1.6 billion in total revenue, a substantial increase from the previous quarter. Net income for the quarter was reported at $1.2 billion, which included $737 million in pre-tax crypto asset mark-to-market gains, primarily unrealized. Adjusted EBITDA reached $1.0 billion, exceeding the total generated in the entire year of 2023. Coinbase attributed its strong performance to focused execution on product expansion, operational discipline, and favorable crypto market conditions. The company also highlighted progress in its priorities for 2024, including driving revenue, utility, and regulatory clarity. Coinbase's market share in US spot and derivatives...Show More

On May 2, 2024, Coinbase Global, Inc. held a conference call to discuss its financial results for the first quarter of 2024, which ended on March 31, 2024. The company reported significant financial growth, with $1.6 billion in total revenue, a substantial increase from the previous quarter. Net income for the quarter was reported at $1.2 billion, which included $737 million in pre-tax crypto asset mark-to-market gains, primarily unrealized. Adjusted EBITDA reached $1.0 billion, exceeding the total generated in the entire year of 2023. Coinbase attributed its strong performance to focused execution on product expansion, operational discipline, and favorable crypto market conditions. The company also highlighted progress in its priorities for 2024, including driving revenue, utility, and regulatory clarity. Coinbase's market share in US spot and derivatives trading increased, and the company saw all-time highs on Coinbase Prime and an increase in USDC market capitalization. The company's international business also contributed more significantly to growth. Coinbase emphasized its commitment to driving regulatory clarity for crypto through various efforts, including advocacy and litigation. Looking ahead to Q2 2024, Coinbase expects subscription and services revenue to be within the range of $525-$600 million, assuming crypto asset prices remain stable. The company plans to host a Q&A session to further discuss the Q1 results.