Brian Armstrong summarised the 2023 results for the company: "We cut costs by 45% y/y and shipped products faster with a leaner team driving $95 million of positive net income for 2023.
We launched the Coinbase International Exchange, derivatives products, the Layer 2 Base which is helping blockchains scale, and played a key role in the Bitcoin ETF approvals as the custodian for 8 of 11 ETF issuers.
We custody around 90% of the ~$37B in Bitcoin ETF assets. We've seen net inflows across our retail & institutional products since the ETFs launched.â
âIn 2024 we'll focus on growing trading fee revenue with international expansion and derivatives. We'll also focus on driving utility in crypto with payments and by developing Coinbase Wallet into an onchain superapp. Finally, we'll keep driving regulatory clarity for crypto via the courts.â
