analysts, CoinbaseThey had expected revenues to be lower in fourth-quarter earnings reports.
analysts, Coinbase‘s fourth-quarter earnings to beat expectations USDC attributed to interest income. The company suffered losses due to regulatory uncertainties in the US.
Coinbase Losses Less Than Expected Due to USDC Interest Revenues
Regulatory uncertainties in the US are negatively affecting players in the crypto industry. SEC’s crypto staking, crypto custody services and Paxosover stablecoinThe fact that he dealt with the issues brought along question marks in the sector.
of the U.S. Securities and Exchange Commission ( SEC ) has recently put pressure on the crypto industry reflected in the earnings of companies. One of these companies was Coinbase, the largest cryptocurrency exchange in the USA. Coinbase recently announced its Q4 earnings reports. While analysts expected the company to announce higher losses, this situation did not turn out as expected.
Coinbase reported net income of $605 million, above analyst estimates of $588 million. Analysts say Coinbase’s fourth-quarter revenue USDCstated that it outperformed forecasts thanks to its interest income.
Commenting on the subject, analyst John Todaro said the following about Coinbase’s revenues above expectations:
“Last quarter was done with much higher-than-expected interest income in USDC.”
