Coinbase swings to $667 million loss as crypto slump drags Q4 revenue

Coinbase reported a net loss of $667 million for the fourth quarter, a reversal from the prior quarter's profit, primarily due to investment-related losses tied to its crypto asset portfolio amid a broader crypto market slump. Total Q4 revenue was $1.8 billion, down 5% from Q3, with transaction revenue falling 6% to $983 million, as consumer trading declined despite growth in institutional derivatives trading following the acquisition of Deribit. Stablecoin revenue, however, rose 3% to $364 million. Following the earnings release, Coinbase shares briefly hit a two-year low before recovering in volatile after-hours trading. The company maintains a strong balance sheet with $11.3 billion in cash and continues to pursue its "Everything Exchange" strategy.

(Source：The Block)