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Coinbase beats Q4 earnings estimates amid falling transaction volume

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Coinbase noted the 'challenging year for crypto markets' in its Q4 2022 results, which saw it beat analyst earnings estimates for the quarter despite a transaction volume decline.

Transaction volumes decreased 12% compared to the prior quarter, however, Coinbase pointed to a 34% increase in subscription and service revenues as the reason for its 5% total revenue growth for the quarter.

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The recent developments in crypto markets have been challenging, but not unprecedented.

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