Bitcoin’s wild price trajectory during the pandemic boosted Coinbase’s revenues and profits. The company, which runs North America’s biggest cryptocurrency exchange by trading volume, witnessed a surge in users and transactions and posted record profits on its platform during the fourth quarter. Its income jumped to $840 million from $177 million a year ago. With… Read More Coinbase Stock Falls After Record Profits
Revenues for North America’s biggest cryptocurrency exchange skyrocketed as Bitcoin surged to new highs in the first quarter of 2021. Coinbase reported revenues of $1.8 billion, up from $191 million a year ago. Net income for the San Francisco-based company jumped to $771 million from $32 million a year earlier. Coinbase’s sterling quarterly performance occurred… Read More Coinbase Reports Record Earnings, Cautions Investors
What can Bitcoin do to earnings statements? Quite a lot, apparently. In its earnings report Thursday, payments company Square revealed that it generated $2 million in profit from its Cash App due to a rise in sales from an increase in Bitcoin’s price. The app allows users to buy, sell, and deposit Bitcoin. Jack Dorsey,… Read More Payments Company Square Loves Bitcoin