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with the market crypto- largely due to recent halve Coinbase closed the first quarter of the year in a spectacular way, rapidly increasing its revenue and, above all,
with the market crypto- largely due to recent halve Coinbase closed the first quarter of the year in a spectacular way, rapidly increasing its revenue and, above all, its profits.
In addition to consolidating strong growth in the heat of the bull market for cryptocurrencies, it also outlined its vision for the future with payments as a new strategic focus.
Why is it important?. Coinbase is one of the largest exchanges in the world and the largest listed company in its industry. His walk reflects the current state of the industry crypto- Like the direction you walk.
Its latest quarterly results reveal a much more favorable environment compared to last year, and it is expanding its ambitions beyond cryptocurrency accumulation and speculation.
in numbers. First quarter of 2024:
The evolution of Coinbase’s revenue and Bitcoin price at each moment is quite equal. So much so that if we put them in adjacent graphs they seem to tell the same story.
new focus. Coinbase CEO Brian Armstrong has already announced that focusing on payments, not just buying and selling assets, will be a strategic shift for the company.
The idea is to make payments with cryptocurrencies instantaneous and provide a more tangible benefit to these currencies at a cost of less than a cent on the dollar anywhere in the world, and not just divert them as speculative commodities.
Opinion. Although Coinbase has grown substantially due to its role in the consumer market, the institutional segment has also more than doubled to account for 85% of revenue.
Coinbase, on the other hand, was named in January as one of the custodians of ETFs (exchange-traded funds that track the value of Bitcoin) that launched at the beginning of the year. Coinbase has taken a leading role here due to its long history and relationship with regulators as a publicly traded company.
Featured image | via Xataka Midjourney
in Xataka | ‘Bitcoin Jesus’ was one of the first millionaires thanks to cryptocurrencies. Now arrested in Spain
Source: Xataka
Jason Root is a blockchain enthusiast and author at Div Bracket. He provides comprehensive coverage of the latest developments in the world of blockchain, offering readers a unique perspective on the industry and its potential for revolutionizing various industries.
