The US Crypto Exchange Giant <a href="https://www.cryptoknowmics.com/news/coinbase-posts-record-revenue-in-q4-earnings/">Coinbase</a> released its fourth-quarter and full-year 2021 earnings report on February 24, 2022. The report includes the firm's financial results, adjusted EBITDA, and a non-GAAP financial measure. The co-founder of Coinbase, Brian Armstrong stated that 2021 was an "incredible year of growth for Crypto and Coinbase." 
<h2>Coinbase 2021 Report Shows a Decline in MTUs</h2>
The crypto exchange firm noted that the number of retail MTUs (monthly transaction users) at the end of 2021 was higher in comparison to 2020. Coinbase observed a decline in MTUs between the second and third quarters. Additionally, the number of users on its platform has raised to 89 million. 

To expand its business, Coinbase enforced numerous ways including, "trading and custody support for 95 and 72 new crypto assets," "more than double the number of countries where users can buy, trade, and sell crypto via fiat rails" and "added <a href="https://www.cryptoknowmics.com/news/apple-to-enable-crypto-payments-with-new-feature/">Apple Pay</a>, Google Pay, and <a href="https://www.cryptoknowmics.com/news/paypal-coin-what-does-it-portray-for-payments/">Paypal</a> as payment methods."

Jumping to the institutional side of Coinbase, the company claimed that its institutional customer base also grew by over 50% as compared to last year. Coinbase 2021 Report comes after major cryptocurrencies saw a weak month in December. Investors blamed the year-end slowdown on macroeconomic factors such as the rise of Covid-19 variants.

Additionally, during Coinbase's fourth quarter and full-year 2021 earnings call, Brian Armstrong shot down the idea of 'crypto winter,' which refers to a bearish period where asset prices fall continuously. 
<h2>Investors Warned Against Long-Term Investments in Third Quarter</h2>
In their previous quarter, Coinbase had warned investors and shareholders from considering their stocks to be long-term investments as they believed that their business is volatile. This reality was recently demonstrated during the Ukraine-Russia crisis where <a href="https://www.cryptoknowmics.com/news/cash-app-reports-1-96b-in-bitcoin-revenue-in-q4/">Bitcoin</a> prices dropped significantly. This has led analysts to question Bitcoin as a safe-haven currency during geopolitical instability. 

Commenting about the present year, Coinbase said,
<blockquote>"We enter 2022 with even more unknowns, which make our business all the more difficult to forecast global macroeconomic headwinds." </blockquote>
On the other hand, Coinbase also said that it looks at increased opportunities and adoption of cryptocurrency. CFO Alesia Haas added that although Coinbase's stock moves are largely tied to changes in prices of cryptocurrencies, the company hopes investors will take into account the way the platform is being diversified. 

Haas also mentions Coinbase launching an <a href="https://www.cryptoknowmics.com/news/minecraft-enters-metaverse-with-nft-worlds/">NFT</a> platform and that NFT prices and volume are less associated with other crypto assets.

Coinbase Shares Fourth Quarter and Full Year 2021 Earnings Report

The US Crypto Exchange Giant Coinbase released its fourth-quarter and full-year 2021 earnings report on February 24, 2022.

Priyanka is an active crypto enthusiast. Having graduated with a BA in Journalism and Mass Communication, she is a passionate content writer with a strong understanding of financial content. She has been writing on crypto and blockchain-related topics for the last three years and is an active trader.

Coinbase Shares Fourth Quarter and Full Year 2021 Earnings Report

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