Coinbase Expands into Cryptocurrency Purchases: Substantial Profit Increase Expected Next Quarter with the Introduction of FASB New Guidelines

Coinbase, a compliant US exchange, recently released its financial report, revealing that the optimistic sentiment in the cryptocurrency market has contributed to its trading growth. In 2023, Coinbase finally achieved profitability for the entire year. However, hidden in the annual report is the fact that Coinbase quietly purchased cryptocurrencies such as Bitcoin for itself in 2023. With the implementation of FASB accounting standards, the rise of cryptocurrencies is expected to bring Coinbase profits of over one billion dollars.