Coinbase Revenue To Increase Massively As Interests Rates Surge 

Coinbase Revenue To Increase Massively As Interests Rates Surge 

The post Coinbase Revenue To Increase Massively As Interests Rates Surge  appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Earlier this week, JPMorgan analyst Ken Worthington wrote a client note saying that crypto exchange Coinbase Global (COIN) may manage to generate $1.2 billion of additional interest income-driven revenue in 2023 given the increased short-term interest rates.

As per estimates, Coinbase’s joint venture with USDC issuer Circle could be contributing approximately $700 million of incremental revenue. Additionally, Coinbase could earn interest income from customer fiat and its corporate cash balance, taking the potential total to $1.2 billion in added revenue next year. However, the bank exclaimed that a key risk for Coinbase gathering its interest income is the possibility of a reduced holding of USDC and fiat currency with the exchange.

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