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Coinbase Returns to Profit as Crypto Investments Offset Trading Slump
Original: coinbase
Coinbase has reported a return to profitability, with gains from its crypto investments offsetting continued weakness in trading activity. The US cryptocurrency exchange said investment performance lifted results even as trading volumes remained soft, according to Reuters. The earnings mark a turnaround after a difficult stretch for the company and the wider digital asset sector.
Why now: Coinbase's latest earnings show a return to profit despite weak trading volumes, a notable turnaround for the crypto sector.
Evidence
- Next Crypto to Explode? Coinbase Adds Its 18,000th Bitcoin While Pepeto Stakers Lock In 160% APY · TechBullion
- Coinbase returns to profit as crypto investment gains offset trading weakness · Reuters
Elsewhere
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