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Why Shares of Coinbase Are Down Today

TheMotleyFool

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Shares of the large cryptocurrency exchange Coinbase Global (NASDAQ: COIN) traded about 2% lower as of 10:50 a.m. ET today after the company reported fourth-quarter and full-year earnings results for 2021.

Coinbase reported earnings per share of $3.32 on total revenue of nearly $2.5 billion in the fourth quarter, easily beating analyst estimates. Trading volume on the platform hit a record high of $547 billion, while assets on the platform grew to $278 billion. Monthly transacting users (MTU) grew to 11.4 million in Q4, up 4 million from the sequential quarter and 8.6 million year over year.

Image source: Getty Images.

Source Fool.com

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