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The cryptocurrency market is proving profitable for crypto companies in 2024. Accordingly, the United States-based cryptocurrency exchange Coinbase, announced its first quarter earnings for 2024, drawing significant attention. The popular cryptocurrency exchange managed to please its investors with first-quarter earnings that exceeded expectations.
Impressive Success from Coinbase
The United States-based cryptocurrency exchange Coinbase, presented its first quarter earnings of 2024 on the evening of May 2nd. According to this, the company announced it had achieved earnings of $1.64 billion in the first quarter. Financial circles had anticipated earnings of $1.32 billion, and with this development, Coinbase managed to exceed those expectations.
The cryptocurrency exchange has recently started offering notable services in the spot Bitcoin ETF area, Ethereum Layer-2 network Base, and the Web3 wallet service Coinbase Wallet. These developments, along with the rise in the cryptocurrency market led by Bitcoin, have significantly contributed to the company’s earnings. At the time of writing, Coinbase’s stock COIN, continues to trade at $228, marking an 8.93% increase over the last 24 hours.
