Coinbase Earnings Miss, New Business Surges
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Coinbase's Q4 earnings fell short of expectations, but the exchange's fast-growing subscription and services revenue, driven by staking and custody, signals a strategic pivot toward recurring income. This segment is scaling rapidly, partially offsetting trading volume declines. Meanwhile, Tom Lee's reduced Ethereum buying suggests a cautious stance on near-term upside, possibly reflecting broader market uncertainty. Despite the earnings miss, Coinbase's diversified revenue model positions it well for the next cycle.
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