Coinbase在美國總統唐納德·特朗普（Donald Trump）當選後，隨著加密價格和貿易漲幅的一年中最強的季度收益

Coinbase 2月13日的財務業績表明，該公司的總收入為23億美元，季度增長了88％，淨收入為13億美元

Cryptocurrency exchange Coinbase (NASDAQ:COIN) posted its highest earnings in over a year for Q4, as crypto prices and trading surged following the election of US President Donald Trump.

加密貨幣交易所Coinbase（NASDAQ：COIN）在美國總統唐納德·特朗普（Donald Trump）當選後，一年中發布了一年多以上的收入，因為加密貨幣價格和交易飆升。

Coinbase’s Feb. 13 financial results showed the firm hitting total revenue of $2.3 billion, up 88% quarter-on-quarter, while net income was $1.3 billion, both far exceeding analyst expectations.

Coinbase 2月13日的財務業績表明，公司的總收入為23億美元，高88％的四分之一，而淨收入為13億美元，都遠遠超出了分析師的預期。

Trading volume reached $439 billion in the fourth quarter, beating estimates of $404 billion.

交易量在第四季度達到4390億美元，估計為4040億美元。

Consumer transaction revenue increased over 178% quarter-on-quarter to $1.35 billion, while institutional revenue increased 155% over the same timeframe to $141.3 million in Q4 — a quarter highlighted by Trump’s election win and rising market prices.

消費者交易的收入超過178％的四分之一季度，達到13.5億美元，而在同一時間範圍內，機構收入增加了155％，達到第4季度的1.413億美元，這是特朗普的選舉贏得和上漲的市場價格的四分之一。

“The majority of the Y/Y growth in Trading Volume was driven by higher levels of Crypto Asset Volatility — particularly in Q1 and Q4 — as well as higher average crypto asset prices,” said the firm in a shareholder letter.

該公司在股東信中說：“交易量的大部分增長是由更高水平的加密資產波動（尤其是在第一季度和第四季度）以及較高的平均加密資產價格驅動的。”

Coinbase also recorded $225.9 million and $214.9 million in stablecoin revenue and blockchain rewards revenue — the latter of which marked a 38.8% quarter-on-quarter increase.

Coinbase還記錄了2.259億美元和2.149億美元的Stablecoin收入和區塊鏈獎勵收入，後者的季度增加了38.8％。

Coinbase shares increased 8.44% to $298.1 during the Feb. 13 trading day but saw some volatility during after-hours trading. It is currently down 0.88% after hours to $295.01, Google Finance data shows.

在2月13日的交易日，Coinbase股票增長了8.44％，至298.1美元，但在下班後交易期間有些波動。 Google Finance數據顯示，目前，它目前下跌0.88％，至295.01美元。

Coinbase’s earnings come a day after online brokerage firm Robinhood (NASDAQ:HOOD) posted a banner quarter in Q4, which saw shares rise as it beat consensus estimates and cryptocurrency revenue jumped 700% year-on-year.

在線經紀公司Robinhood（NASDAQ：HOOD）的第二天，Coinbase的收益發布了第4季度的橫幅季度，該股票越來越多，股票勝過共識估計和加密貨幣收入同比增長700％。

Coinbase revenue set to jump over 100% YoY – Coin Metrics

COINBASE收入將增加100％的年齡 - 硬幣指標

Crypto research firm Coin Metrics forecasted Coinbase’s revenue to jump over 100% year-over-year, driven by a rise in trading volumes in Q4 2024.

加密研究公司的硬幣指標預測Coinbase的收入將增加100％以上，這是由於第4季度2024年第四季度的交易量增加。

The increased trading activity has been “fueled by renewed market optimism post-U.S. election,” Coin Metrics said. US President Donald Trump has promised to make America “the world’s crypto capital” and has nominated pro-industry leaders to head key agencies.

Coin Metrics說，交易活動的增加是“由新的OP選舉後的新市場樂觀的推動”。美國總統唐納德·特朗普（Donald Trump）已承諾將美國成為“世界加密資本”，並已提名為主要機構的親業領導人。

The trading volume largely comes from institutions as Coinbase continues to grapple with a drought in retail investor activity, crypto researcher Kaiko said on Feb. 10.

加密研究員Kaiko在2月10日表示，交易量很大程度上來自機構，因為Coinbase繼續應對零售投資者活動的干旱。

“[R]etail traders — the highest fee payers — have not returned in force, with their share of volume shrinking to just 18%, down from 40% in 2021,” Kaiko said.

凱科說：“埃及交易者（最高的費用付款人）尚未有效返回，其數量份額縮小到僅18％，低於2021年的40％。”

In 2024, Coinbase significantly increased revenues from subscriptions and services, but the exchange “remains a trading platform at its core, with trading still accounting for […] more than 50% of revenue,” according to Kaiko.

根據Kaiko的說法，在2024年，Coinbase大大增加了訂閱和服務的收入，但該交易所“仍然是其核心的交易平台，交易仍然佔收入的50％以上。”

Meanwhile, analysts anticipated seeing growth in Coinbase’s emerging subscriptions and services businesses.

同時，分析師預計，Coinbase的新興訂閱和服務業務會看到增長。

In Q4, the supply of the US dollar-pegged stablecoin USDC increased. But Coinbase’s Ethereum staking platform — another lucrative services business — has struggled to grapple with a general decline in ETH stakers, clocking a net outflow of nearly 1.3 million ETH in Q4, Kaiko said.

在第四季度，美元固定的Stablecoin USDC的供應增加了。 Kaiko說，但是Coinbase的以太坊Staking Platform（另一個有利可圖的服務業務）一直在努力應對ETH Stakers的總體下降，在第四季度的網絡流出近130萬ETH。

In the long term, a friendly US regulatory environment under Trump stands to benefit Ethereum’s staking business, researchers said.

研究人員說，從長遠來看，特朗普領導下的友好美國監管環境將使以太坊的積分業務受益。

“We see Coinbase as a beneficiary of the election results as the firm has been struggling with regulatory pressure from the SEC,” Michale Miller, an equities researcher at Morningstar, said in a November research note.

“我們認為Coinbase是選舉結果的受益者，因為該公司一直在SEC的監管壓力上掙扎。”

Coinbase is also intent on expanding internationally. The US-based cryptocurrency exchange is in discussions with Indian regulators as it considers a return to the market after halting operations there in 2023.

Coinbase還打算在國際上擴展。總部位於美國的加密貨幣交易所正在與印度監管機構進行討論，因為它認為2023年停止運營後返回市場。