Coinbase Returns To Profit Amid ETF Hype: Sustainable Recovery Or Short-Lived Success?
Coinbase Global, Inc. (NASDAQ: COIN) previously projected that the launch of the spot Bitcoin (CRYPTO: BTC) ETFs could add billions to the crypto market cap, opening new opportunities for asset-class investments. Through its primary roles as a crypto custodian and trading associate for ETF issuers, COIN’s financials have seen a considerable uptick, proving the forecast to be accurate. COIN posted its first quarterly profit in two years, primarily driven by increased trading activity fueled by restored investor enthusiasm for digital assets. Investors responded ardently to the company’s return …