Coinbase Global (COIN) posted its first quarterly profit in two years as trading surged on a new wave of optimism about digital assets, marking a potential turning point for the largest US cryptocurrency exchange.
Investors cheered the news, sending the stock of Coinbase up more than 12% in after-hours trading. The stock is down 5% so far in 2024 as of Thursday’s close but has soared 180% over the last year.
Coinbase earned $273 million in profits during the fourth quarter, well above analyst…
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