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Coinbase disclosed $1.78 billion in fourth-quarter revenue on Thursday, indicating that its business suffered alongside Bitcoin’s retreat from all-time highs last year.
The figure represented a 22% decrease compared to a year ago, while fourth-quarter revenue also fell short of analysts’ expectations of $1.84 billion.
Coinbase posted a net loss of $667 million for Q4, marking a reversal from a year ago, when the firm notched $1.3 billion in profits alongside President Donald Trump’s re-election.
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