Basri Caneri 
Cryptocurrency exchange Coinbase announced that it generated $2.3 billion in revenue in the fourth quarter of 2024. In the company’s shareholder letter, it was stated that ambitious goals were set to increase revenues, improve the user experience and scale the underlying infrastructure. Following these statements, Coinbase shares gained 10%.
Coinbase also announced that it will play an active role in shaping American crypto laws, stating that unprecedented opportunities have arisen regarding crypto regulations in the US during the Trump administration.
Coinbase’s Q4 Performance and Impact on Shares
- The company’s total annual revenue reached $6.6 billion, with a net income of $1.3 billion.
- 2024 was a lucrative period for centralized exchanges (CEX) across the board, but Coinbase stood out from its competitors and demonstrated strong financial performance.
- The exchange has been closely involved in regulatory developments in the US and has sought to have a voice in new political processes.
This strong performance was also instrumental in Coinbase’s global expansion strategy. The company announced that it is strengthening its operations in Argentina and India and expanding into new markets.
Coinbase and Relations with the Trump Administration
Coinbase CEO Brian Armstrong has made active attempts to establish closer ties with the Trump administration.
- Armstrong is reportedly eager to comply with new regulations with the Trump administration.
- Coinbase, which has been struggling with the “Operation Choke Point 2.0” investigation, which includes a crackdown on the crypto ecosystem in the US, has made significant progress in this process.
- It was stated that the federal government took Coinbase’s accusations more seriously after the official appointed by Trump as the “Crypto Czar” investigated possible regulatory violations.
The biggest proof of this was the testimony of Coinbase’s Chief Legal Officer (CLO) in Congress last week. A few months ago, this would have been impossible, but thanks to the positive relationship with the Trump administration, Coinbase is in a stronger position in the regulatory arena.
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