Coinbase Posts Record Revenue in Q4 Earnings

US-based cryptocurrency exchange Coinbase has generated $2.5 billion of net revenue and $840 million of net income last quarter, according to an announcement posted by the company. Coinbase Generated $2.5B Total Revenue in Q4 In its fourth quarter of 2021, Coinbase generated $2.50 billion in total revenue, up from $585.1 million in the year-ago quarter, while its monthly active user base has soared to 11.4 million. The company’s net income overall has swelled from $176.8 million from the third quarter to $840.2 million in Q4 2021. Total retail trading volume was $177 billion, up 90% quarter-over-quarter while retail trading represented 32% of the company’s fourth-quarter trading volume. Meanwhile, institutional trading volume was $371 billion, up 59% from the third quarter. Coinbase also used the earnings announcement to boast a host of new products which were already unveiled in the last few months, including a tax center and a payroll center. Trading and Non-Trading Revenues Out of all cryptocurrencies, Bitcoin (BTC) alone represented 16% of trading volume in the fourth quarter and 24% for the full year. The flagship cryptocurrency, however, represented 41% of trading volume in the fiscal year 2020. Meanwhile, Ethereum (ETH) represented 16% of trading volume in the quarter and 21% in the full year, up from 15% from the previous fiscal year. Other cryptocurrencies totalled 68% of trading volume in the fourth quarter and 55% f...