Coinbase, a compliant exchange in the United States, recently released its financial report, which showed a growth in trading volume driven by the optimistic sentiment in the cryptocurrency market. In 2023, Coinbase finally achieved profitability for the entire year. However, hidden in the annual report is Coinbase’s silent purchase of cryptocurrencies such as Bitcoin in 2023. With the implementation of FASB accounting standards, the appreciation of these cryptocurrencies is expected to bring Coinbase profits of billions of dollars.
Coinbase Joins the Crypto Buying Game! FASB's New Guidelines Expected to Boost Profits Significantly Next Quarter