#cryptonews
A lot of attention has been paid to Coinbase’s box office earnings in the final three months of 2024.
Net income stood at $1.3 billion from October to December — a 280% rise when compared with the same period a year earlier, when the bull run was kicking off. We all know why. Donald Trump’s return to the White House as a pro-Bitcoin president has sparked a trading frenzy, and a ‘golden age’ for crypto.
And that means his outlook on the state of the industry, not to mention his company’s plans for the future, now matters a great deal. His exchange played an instrumental role in the Stand With Crypto campaign that carefully scrutinized the policy positions of U.S. election candidates — a role this group will undoubtedly reprise during the midterms.
Coinbase’s CEO Brian Armstrong recently met Trump in Mar-a-Lago — and is tipped to serve in the administration’s crypto advisory council.
The CEO says the transformation in attitudes toward crypto in the U.S. is prompting the rest of the world to take notice, and Coinbase now has a tried-and-tested playbook for expanding into international markets.
Armstrong is also banging the drum for regulatory change, especially at the Securities and Exchange Commission, after years of frustration.
But admittedly, the landscape feels quite different now Wall Street institutions are piling into the space — with governments openly pondering whether to start holding Bitcoin on their balance sheets.
Crypto executives are prone to making skyhigh predictions about everything from Bitcoin’s price to mass adoption during bull markets. We’ve seen it time and time and time again… in 2017 and 2021 especially.
“It’s a little bit like the early 2000s when every company had to figure out how to adapt to the Internet. Up to 10% of global GDP could be running on crypto rails by the end of this decade. And Coinbase is going to be the preferred partner to come in and build this for many of the companies out there because we have the most trusted and scalable infrastructure with the longest track record.”
Perhaps the newsiest bit of Armstrong’s call with analysts was when he said this: