Coinbase Closes 2024 with Record-Breaking Revenue and Growth

Coinbase achieved record-breaking growth in 2024 with $6.6B in revenue, $2.6B net income, institutional expansion, and strong global market influence.

Coinbase closed 2024 with record-breaking revenue and growth, marking one of its most successful years ever. The company generated $6.6 billion in total revenue, which marked a substantial growth over the past years. Strong profitability appeared through net income reaching $2.6 billion.

Coinbase secured its second consecutive year of positive Adjusted EBITDA totaling $3.3 billion which indicates its financial stability. Total subscription service revenues reached $2.3 billion during this period. The company’s financial position received additional strength from reaching $9.3 billion in USD resources during the year’s end.

Coinbase reached remarkable performance levels during its fourth quarter of 2024. During this period Coinbase delivered total revenue of $2.3 billion which resulted in a net income of $1.3 billion. For the fourth quarter the company achieved its highest-ever Adjusted EBITDA total of $1.3 billion.

Coinbase experienced significant institutional progress as a main accomplishment in 2024. Total assets under custody surpassed $220 billion as institutional trading volume expanded by 128% in a single quarter. ETFs proved to be critical because they drove assets under custody from ETFs to reach $93.2 billion. The institutional business of Coinbase received substantial growth from top clients adopting their Prime suite more rapidly.

USDC Market Cap Grows 79% in 2024, Strengthening Coinbase Position

The Base platform operated by Coinbase demonstrated significant expansion in 2024 terms. Base transformed into the dominant Layer 2 solution because it produced quicker and less expensive deals. Bitcoin-backed loans introduced through the platform resulted in a 89% quarter-over-quarter increase of assets that exceeded $14 billion.

The stablecoin USDC achieved its breakthrough performance during the entire year of 2024. During 2024, the market capitalization of the company expanded by 22% between quarters and reached a 79% increase for the entire year. The number of USDC on-chain payments through 2024 reached 225% growth over previous-year levels thus becoming the principle USD stablecoin with the fastest rate of expansion.

The international expansion of Coinbase achieved crypto expansion through its implementation of 92 new trading assets. The international exchange of Coinbase experienced remarkable customer balance growth which increased by two times while its markets in Canada and Brazil along with Singapore demonstrated significant expansion.

During the election, Coinbase succeeded in securing support from 2.1 million crypto supporters and many pro-crypto candidates received more than 80% of the vote which led to crypto advocates holding the majority in the House of Representatives. Overall, 2024 was a year of unprecedented success for Coinbase.