Leading crypto exchange Coinbase reported its earnings for the 4th quarter of 2022. After the publication, the shares of the company increased. According to the report, the company ended 2021 with strong performance across key metrics.
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The net worth of the company in Q4 2021 was $2.5 bln, the net income was $840 M. Coinbase's adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) in the interval was $1.2 bln. The number of monthly transacting users at the end of the year was 11.4 million. 32% of the users invested and engaged with a non-investing product.
The Coinbase team expected that the revenue and trading volume will be lower in the current quarter as prices of crypto assets have fallen.
Coinbase 2022 outlook mentions that the crypto market cap is over 20% down as a result of the Federal Reserve raising interest rates and geopolitical instability in parts of the world.
Currently, the total crypto market cap stands at around $1.7 trillion.