Coinbase Q1 revenues up 40% YoY to $2 billion, while net income down

By: cryptosheadlines|2025/05/09 08:30:03
0
Share
copy
Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Coinbase reported $2 billion in total revenue for the first quarter, compared to $1.6 billion in the first quarter of 2024.Meanwhile, the exchange posted $66 million in net income, compared to $1.2 billion, including unrealized gains of $737 million, during the same period last year.Coinbase reported $930 million in adjusted EBITDA for the quarter, with adjusted net income reaching $527 million.Subscription and services revenue rose 9% quarter-over-quarter to $698 million, reflecting increasing user demand for non-trading income sources.Coinbase reported $9.9 billion in USD resources, including cash, cash equivalents, and USDC. Meanwhile, average assets under custody climbed by $25 billion over the quarter.Derivatives volumeCoinbase processed $315 billion in institutional trading volume in the first quarter and reported a $25 billion increase in average assets under custody. Additionally, the exchange added 39 new perpetual contracts to its international exchange (INTX), pushing its global derivatives trading volume above $800 billion.The move further cements Coinbase’s role as the platform of choice for active crypto traders seeking access to advanced financial instruments.Coinbase will release its full 10-Q filing with the SEC on May 9, detailing reconciliations between GAAP and non-GAAP metrics used in its earnings presentation.Institutional trends and stablecoin growthCoinbase also revealed that 86% of surveyed institutional investors either held digital assets or planned to make allocations this year.Stablecoins emerged as a major growth segment for Coinbase. The average USDC balance held in Coinbase products rose 49% quarter-over-quarter to $12 billion, with USDC revenue up 32%.The total stablecoin balance on Base, Coinbase’s Ethereum Layer 2 network, climbed 12% to $4 billion, contributing to record demand as USDC market cap hit $60 billion.Base itself saw a 16% quarter-over-quarter rise in transaction volume, reinforcing its position as the most active Ethereum L2 by user engagement.Mentioned in this articleLatest Alpha Market ReportSource link

You may also like

Popular coins

Latest Crypto News