Recovery in Trading: Coinbase Achieves Full-Year Profit in 2023 with a 14% Surge in Stock Price

Coinbase, the US compliant exchange, announced its fourth-quarter financial report. Due to the optimistic sentiment in the cryptocurrency market, its fourth-quarter trading revenue grew by 83% compared to the previous quarter, reaching $530 million. With the additional stablecoin income in a high-interest rate environment and the cost-cutting effects, Coinbase finally achieved an annual profit of $94.87 million in 2023, with an EPS of $0.37. Its stock price surged by 14% to $189 after hours.