Trading volumes totalled $154 billion in Q4, including $125 billion in institutional volume. by Ben Strack /. February 15, 2024 04:32 pm. Vladimir Kazakov. Crypto exchange Coinbase benefitted from a market rebound during the fourth quarter, seeing its revenues rise 41% quarter over quarter to $954 million.. The improved revenues came as the company’s transaction revenues surged in the three-month period to $529 million — up 83% from the third quarter.. Coinbase reported net income of $273 million, marking the first positive quarter in 2023. The exchange’s adjusted EBITDA — earnings before interest, taxes, depreciation and amortization — increased 69% from the prior quarter, to $305 million.. It marked the fourth straight quarter of positive adjusted EBITDA for the company after Coinbase tallied a negative figure in that category for the three quarters prior.. Analysts had predicted the surge in crypto prices in late 2023 would translate to higher trading volume for the company, and ultimately higher revenues.. Read more: Coinbase earnings prep: Profitability possible in Q4, but what’s next?. The price of bitcoin (BTC) increased by more than 50% during the fourth quarter prior to the Securities and Exchange Commission approving the first US spot bitcoin ETFs in January. The asset’s price hovered around $52,000 on Thursday.. Coinbase’s fourth quarter consumer trading volume was $29 billion, up 164% quarter over quarter. Institutional trading volume, which came in at $125 billion, saw a 92% increase from the prior quarter.. In addition to the trading volumes increase, subscription and services revenue rose to $375 million. That was up 12% from $334 million in the third quarter.. The subscription and services business line comprises revenues from stablecoins and custodial fees, as well as blockchain rewards and interest income. Coinbase stock rose 3.3% on Thursday. The share price was up about 7.2% in after-hours trading, as of 4:25 pm ET.. Don’t miss the next big story – join our free daily newsletter.. Tags. Coinbase. earnings. Newsletter. Blockworks Daily. Upcoming Events. Digital Asset Summit 2024. Hilton Metropole | 225 Edgware Rd, London. Mon – Wed, March 18 – 20, 2024. Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.. buy ticketslearn more. Permissionless III. Salt Lake City, UT. WED – FRI, OCTOBER 9 – 11, 2024. Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains . . learn more. recent research. Research. After the launch of a spot BTC ETF, all eyes are on Ethereum for a potential spot ETF approval in May 2024. This approval would be monumental, as asset managers could potentially stake custodied ETH to earn a passive return, which could usher in new institutional demand for the asset. The liquid staking sector shows particular promise as one way to capture higher beta returns alongside ETH, particularly due to liquid staking protocols’ cash flows.. by 0xpibblez. more from news. Select a tab. Certain ASIC models could change hands to miners with cheaper power costs rather than fully exiting the network, analysts said. by Ben Strack /. February 15, 2024. Witness protocol will enable users to gain proofs over their data. by Bessie Liu /. February 15, 2024. The Optimism Mainnet underwent an hour of maintenance, but went down prematurely earlier today for 2 hours. by Macauley Peterson /. February 15, 2024. It’s not reasonable to expect someone who trades stocks on Robinhood to also have the ability to appropriately discern their risk with many RWAs. by Anthony DeMartino /. February 15, 2024. Illicit addresses sent $22.2 billion worth of cryptocurrency in 2023, a 29.5% decrease from 2022, according to the latest report from Chainalysis. by Casey Wagner /. February 15, 2024. During a House Financial Services Committee hearing Wednesday, several lawmakers opted to use their allotted time to discuss cryptocurrency and its role in illicit finance. by Casey Wagner /. February 14, 2024