Coinbase released its Q4 financial report: a net loss of $667 million and a 20% drop in revenue.

PANews reported on February 13th that, according to Bloomberg, Coinbase's fourth-quarter financial report showed that revenue fell 20% year-over-year to $1.8 billion, exceeding market expectations, due to declining cryptocurrency prices leading to a contraction in trading activity. After accounting for unrealized losses to reduce its cryptocurrency holdings and investment value, the company recorded a net loss of $667 million, compared to a profit of $1.3 billion in the same period last year.

Coinbase stated that despite a weakening market environment, its total trading volume outperformed the overall market, supported by its derivatives business. In recent years, the company has continuously reduced its reliance on spot trading through acquisitions such as Deribit and the launch of stock trading and prediction markets. Analysts believe that the key focus for the market will be whether Coinbase can diversify its business to create a stable revenue stream that can weather economic cycles.