Previous close | 75.85 |
Open | 91.38 |
Bid | 97.10 |
Ask | 101.30 |
Strike | 135.00 |
Expiry date | 2024-07-19 |
Day's range | 91.38 - 96.90 |
Contract range | N/A |
Volume | |
Open interest | 22 |
Coinbase (COIN) delivered strong first-quarter earnings, surpassing Wall Street's estimates on both the top and bottom lines. The cryptocurrency exchange reported revenue of $1.64 billion, beating estimates of $1.32 billion, while its adjusted earnings per share (EPS) stood at $4.40, surpassing the $1.07 projection. To provide insight into Coinbase's results, Kindred Ventures Founder and Managing Partner Steve Jang joins Market Domination Overtime. Jang names the approval of bitcoin ETFs as a tailwind for Coinbase, which primarily benefited the exchange's legacy business of consumer trading. He notes that the company is entering its "second chapter" since going public, positioning itself as "a provider for the largest financial institutions on the planet." With Coinbase creating a platform for developers, Jang draws parallels to the early stages of tech giants like Facebook (META) or Amazon Web Services (AMZN). He describes this strategy as "forward-looking" and believes it will serve as a catalyst for Coinbase's long-term growth. "Coinbase is, was, and continues to be the best company to build the pillars that create the gateway for crypto and traditional finance," Jang tells Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Angel Smith
Coinbase posted its second consecutive quarterly profit as crypto trading surged during the first three months of 2024.
Coinbase Global posted a significant jump in profit in the first quarter, helped by an uptick in cryptocurrency trading following the launch of the first U.S.-listed exchange traded funds (ETFs) tracking bitcoin in January. Coinbase shares fell 3% in after-hours trading, after ending the day up nearly 9%. Crypto prices rocketed after the U.S. Securities and Exchange Commission approved the launch of a spate of exchange-traded funds (ETFs) tied to the spot price of bitcoin in January after a decade-long tussle with the industry.