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Coinbase Global (COIN) shares fall lower in Friday's session despite topping fourth quarter expectations, reporting revenue of $2.27 billion and earnings of $4.68 per share. The cryptocurrency exchange certainly saw a boost from bitcoin's (BTC-USD) post-election rally, tied to President Trump's 2024 victory.
"When you take a step back this is much more than about kind of what's happening in the fourth quarter or first quarter," Citizens JMP director of financial technology research Devin Ryan says. "It's about really the seismic shift happening in the crypto space more broadly, and... how blockchain is now going to see a step function in adoption. And that's what gets us excited."
Ryan talks to Brad Smith and Madison Mills on the Morning Brief about the regulatory environment that will enable Coinbase's tokenization plans: "You have the trifecta — you have a white House that's supportive; you have a bipartisan Congress right now that's looking to pass legislation; and then you have a regulatory backdrop where we're now finally getting to a point of clarity."
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He connects what Coinbase has to gain with Robinhood Markets (HOOD) — which sits "at the intersection of traditional finance and digital assets" — after the exchange platform saw its crypto revenue rise 700% year-over-year in its fourth quarter earnings beat.
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This post was written by Luke Carberry Mogan.