Coinbase Global Inc.’s Q4 income more than quadrupled as the largest US crypto exchange benefited from a crazed quarter, according to a press release by Coinbase on Thursday.

  • Coinbase had net income of $840 million or $3.32 per diluted share, on net revenue of $2.5 billion in Q4 compared with earnings of $177 million on net revenue of $497 million, a year ago.
  • For full year 2021, the company posted net income of $3.62 billion on net revenue of $7.36 billion, increasing from net income of $322 million to $1.14 billion in net revenue in 2020.
  • The fourth quarter was volatile for cryptocurrencies. The price of bitcoin surged from $43,800 to a record $68,991 by November, soaring 8%, expanding the value of the entire crypto market to a record $3 trillion.

The exchange has 89 verified users compared to a projected 78 million users. Its trading volume for the quarter expanded to $547 billion from $89 billion a year earlier. COIN up +2.54%, Pre-market trading