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Fintech Nexus Newsletter (May 3, 2024): Coinbase reports a blowout first quarter
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Fintech Nexus Newsletter (May 3, 2024): Coinbase reports a blowout first quarter

Fintech Nexus Newsletter (May 3, 2024): Coinbase reports a blowout first quarter

Peter Renton·
Fintech Nexus Newsletter
·May. 3, 2024·3 min read

As the price of bitcoin goes, so goes Coinbase.

Bitcoin hit an all-time high in the first quarter, and Coinbase reported its best-ever results. The company made $1.18 billion in net income on total revenue of $1.64 billion. Those are impressive numbers, any way you look at them.

Transaction volume on Coinbase peaked in March as bitcoin was hitting its all-time high.

But more importantly, several bitcoin ETFs were launched in the first quarter, and Coinbase is working with many of them for custody services. These funds brought in $50 billion collectively in the first quarter.

Consumer and institutional transaction revenue grew 101% and 133%, respectively from the previous quarter.

All the details are in the Coinbase shareholder letter here.


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  • Peter Renton
    Peter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

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