Coinbase responds to last year's Q4 sale of ETH: the company generally does not participate in trading activities

According to Golden Finance, Standard Chartered Bank analyst Geoffrey Kendrick previously disclosed that cryptocurrency exchange Coinbase "actively sold" 12652 ETH (worth approximately $37 million) in the fourth quarter of 2024, and estimated that about 80% of the revenue generated by Coinbase's Ethereum second layer network Base was profit. Coinbase responded that they will sell a portion of ETH to fund operations, but did not disclose the amount involved. A spokesperson for the company stated that Coinbase generally does not participate in trading activities, and earns ETH through sequencer fees. These ETH are mainly used for long-term investment or operational expenses, including tax liabilities and reinvestment in growth through salaries, subsidies, acquisitions, and public product funds.