Coinbase Bounces Back with Cost Cuts and Global Growth Push
-
Coinbase has diversified its revenue streams beyond just transaction fees, with over half now coming from subscriptions and services. This makes it more resilient.
-
Coinbase has cut costs substantially by automating, reducing staff, and embracing remote work. Expenses are at 3-year lows.
-
Coinbase aims to expand globally, especially in Europe, UK, Singapore, Canada, Brazil and Australia. It has tripled its customer base in the past year.
-
Coinbase was on the cusp of profitability last quarter. With crypto rebounding late 2022, it likely saw its first profitable quarter since Q4 2021.
-
Despite trading 60% below all-time highs, Coinbase is a much better company now - more robust and diversified to drive long-term growth.