From CNBC:

Shares of cryptocurrency exchange Coinbase surged 12% in premarket trading after reporting its first profit in two years, with a net income of $273 million in Q4 2023. Net revenue totaled $905 million, up nearly 50% from the same period the previous year, driven by increased interest in cryptocurrencies, especially after the approval of the first spot bitcoin ETF by the U.S. SEC. Transaction revenues were the primary driver, and consumer trading revenue reached $493 million, up 79% from the previous quarter. The company did not have to adjust fees to account for higher volumes, as the mix of fees for “Simple” and “Advanced” traders supported this growth.



Read more: Coinbase (COIN) share surge after earnings