Goldman also expects upside from higher interest rates from USD coin (USDC), and it noted that as the sole retail issuer of USDC, Coinbase gets a share of the interest income generated from the USDC reserves. Given that interest rates are expected to reach over 3.5% over the next few quarters, the market is underestimating the roughly $400 million to $680 million worth of “boost to subscription and services revenues and ultimately adjusted EBITDA (earnings before interest, taxes, depreciation and amortization).”
Crypto Exchange Coinbase to Benefit Near Term From Staking Revenue After Ethereum’s Merge, Goldman Says
