Coinbase 2024 年第一季度飙升，超出全年收入预测

2024 年第一季度，Coinbase 经历了复苏，营收为 16 亿美元，净利润为 12 亿美元，调整后 EBITDA 为 10 亿美元。这一激增的推动因素包括有利的市场条件、比特币 ETF 的推出以及 Coinbase Prime 平台上机构活动的增加，该平台的交易量较上一季度增长了 105%。

Coinbase Soars in Q1 2024, Surpassing Yearly Revenue Projections

Coinbase 2024 年第一季度飙升，超出年度收入预测

In a testament to the burgeoning crypto market, Coinbase has reported exceptional financial results for the first quarter of 2024, exceeding its projections for the entire year. The cryptocurrency exchange attributed its remarkable performance to favorable market conditions and the launch of Bitcoin exchange-traded funds (ETFs).

Coinbase 报告了 2024 年第一季度出色的财务业绩，超出了全年预测，这证明了加密货币市场的蓬勃发展。该加密货币交易所将其出色的业绩归功于有利的市场条件和比特币交易所交易基金（ETF）的推出。

Surge in Revenue and Profits

收入和利润激增

Coinbase's first-quarter earnings showcased a robust increase in revenue and profitability. Total revenue surged to $1.6 billion, representing a significant growth from the $1.13 billion reported in the fourth quarter of 2023. This impressive performance was propelled by a combination of factors, including a rise in trading volumes and the realization of substantial gains on crypto assets.

Coinbase 第一季度收益显示收入和盈利能力强劲增长。总收入飙升至 16 亿美元，较 2023 年第四季度的 11.3 亿美元大幅增长。这一令人印象深刻的业绩是由多种因素推动的，包括交易量的增长和加密资产的大幅收益。

The company's net income also soared, hitting $1.2 billion in Q1 2024. This remarkable figure was bolstered by $737 million in realized gains on Bitcoin and other crypto assets, underscoring Coinbase's astute asset management strategies.

该公司的净利润也大幅增长，在 2024 年第一季度达到 12 亿美元。比特币和其他加密资产实现的 7.37 亿美元收益支撑了这一非凡数字，凸显了 Coinbase 精明的资产管理策略。

Adjusted EBITDA

调整后息税折旧摊销前利润

Coinbase's adjusted EBITDA, a key measure of profitability that excludes certain non-cash expenses, reached $1 billion in the first quarter, surpassing the $977.5 million reported for the entirety of 2023. This substantial growth reflects the company's operational efficiency and its ability to generate sustainable profits even during market fluctuations.

Coinbase 的调整后 EBITDA（不包括某些非现金费用的盈利能力关键指标）在第一季度达到 10 亿美元，超过了 2023 年全年报告的 9.775 亿美元。这一大幅增长反映了该公司的运营效率及其可持续创造收入的能力。即使在市场波动期间也能获利。

Strong Customer Engagement

强大的客户参与度

Coinbase witnessed a surge in customer engagement across its platform. Consumer transactions contributed $935 million to total revenue, marking a 99% increase from Q1 2023. Institutional transactions also surged, with revenue growth of 133% driven by Coinbase Prime, the company's platform for high-volume traders.

Coinbase 见证了其平台上客户参与度的激增。消费者交易为总收入贡献了 9.35 亿美元，较 2023 年第一季度增长了 99%。机构交易也激增，在该公司面向大交易量交易者的平台 Coinbase Prime 的推动下，收入增长了 133%。

The trading volume on Coinbase Prime reached an all-time high of $256 billion in Q1 2024, significantly outpacing the US spot market. This remarkable achievement underscores the popularity of Bitcoin ETFs and their positive impact on institutional client engagement.

Coinbase Prime 的交易量在 2024 年第一季度达到 2560 亿美元的历史新高，大幅超过美国现货市场。这一非凡成就凸显了比特币 ETF 的受欢迎程度及其对机构客户参与度的积极影响。

Institutional Adoption

机构采用

The launch of Bitcoin ETFs has proven to be a catalyst for institutional adoption of cryptocurrency. Coinbase's institutional platform has experienced record growth in trading volume and client numbers. Nearly 40% of institutional clients engaged with at least three Bitcoin ETFs during the quarter, highlighting the increasing demand for these investment vehicles.

比特币 ETF 的推出已被证明是机构采用加密货币的催化剂。 Coinbase 的机构平台在交易量和客户数量方面经历了创纪录的增长。本季度，近 40% 的机构客户至少参与了三只比特币 ETF，凸显了对这些投资工具的需求不断增长。

Concierge Service Growth

礼宾服务增长

Coinbase's concierge service, which offers tailored support for high-value clients, witnessed a 64% surge in revenue. This growth was primarily driven by rising crypto asset prices and the revenue generated from Bitcoin ETFs. With Coinbase holding custody of eight of the 11 new Bitcoin ETFs, the company is well-positioned to capitalize on the growing institutional demand for these products.

Coinbase 的礼宾服务为高价值客户提供量身定制的支持，收入增长了 64%。这一增长主要是由加密资产价格上涨和比特币 ETF 产生的收入推动的。 Coinbase 托管了 11 只新比特币 ETF 中的 8 只，该公司处于有利地位，可以充分利用机构对这些产品不断增长的需求。

Asset Base Expansion

资产基础扩张

Coinbase closed the quarter with an approximate $7.1 billion asset base, including $1.1 billion in net cash mobilized through convertible note conversions. The expansion of its asset base provides the company with financial flexibility and strengthens its position as a leading cryptocurrency exchange.

Coinbase 本季度末的资产基础约为 71 亿美元，其中包括通过可转换票据转换筹集的 11 亿美元净现金。资产基础的扩大为公司提供了财务灵活性，并巩固了其作为领先加密货币交易所的地位。

Outlook for the Future

未来展望

Coinbase's exceptional Q1 2024 performance sets a strong foundation for the company's future growth. The favorable market conditions, the increasing adoption of Bitcoin ETFs, and the company's innovative product offerings position Coinbase for continued success in the rapidly evolving cryptocurrency landscape.

Coinbase 2024 年第一季度的出色业绩为公司未来的增长奠定了坚实的基础。有利的市场条件、比特币 ETF 的日益普及以及公司的创新产品使 Coinbase 在快速发展的加密货币领域持续取得成功。