The first-quarter 2023 balance sheet of the popular US crypto exchange Coinbase (COIN) came in above expectations.
Coinbase, which has been fighting with the US Securities and Exchange Commission (SEC) for some time, year 2023 announced its first quarter balance sheet. Despite receiving the Wells notice from the SEC, analysts 653 million The stock market, which exceeded the dollar expectations, 772 million dollar happening announced earnings. Coinbase’s revenue compared to the fourth quarter of 2022 23% has increased.
Stock market, analysts’ per share $1.45 per share compared to loss estimate loss of $0.34 outperformed expectations. Bitcoin (BTC) since the beginning of the year 70% following the rise COIN shares during the same period. 40% rose. COIN shares after positive balance sheet report 8% experienced a sudden rise.
On the other hand, Coinbase interest income in the first quarter 240 million rose to dollars. That’s $240 million in revenue. 199 million your dollar from USD Coin (USDC) generated interest income. Interest yield compared to the fourth quarter of 2022 32% has increased. In the fourth quarter, interest income 146 million USDC in total 182 million was in dollars.
CEO of Coinbase Brian Armstrong In a statement to the global media on the subject, he used the following statements:
This is Coinbase’s fourth crypto cycle and we’ve come out stronger than each one.