PayPal Q4 Transaction Revenue Rose 11.8% in 1st Quarterly Report Since Adding Crypto
Customers who bought crypto through the platform have been logging in twice as much as they were before, the payments giant said.
These deposits are seen as a proxy for growth among crypto-industry clients.
In a low interest rate environment, CEO Alan Lane said he is more focused on keeping the Silvergate Exchange Network liquid with readily available deposits than in juicing short-term profit.
The payments giant raised yearly forecasts for net new accounts, total payment volume, revenue and earnings.
The crypto exchange’s $1.8 billion in quarterly revenue trounced the $1.3 billion earned in all of 2020. Can Coinbase go up from here or will future COIN holders get rekt?
Analysts want to know how much bitcoin’s first-quarter growth boosted Coinbase’s monthly active user count.