COIN - Coinbase Named As 'Custodian In 5 Of 8 Ethereum ETF Applications' Says CEO Brian Armstrong | Benzinga
Coinbase Global Inc (NASDAQ:COIN) CEO Brian Armstrong spoke about new ventures in Ethereum (CRYPTO: ETH) based products during a Thursday earnings call.
What Happened: He said, “We’ve been named as the custodian in 5 of the 8 ETH ETF applications.”
Coinbase reported a 45.2% jump in net revenue, hitting $905 million in the fourth quarter and exceeding the estimated $825 million. The quarter marked a turnaround to profit with a net income of $273 million, a stark contrast to the $2 million loss in the previous quarter and the first profitable quarter since Q4 2021.
Transactional activity was central to Coinbase’s income, with consumer crypto trading pulling in $493 million—a near doubling from the third quarter—and institutional transaction revenue increasing twofold to $36.7 ...