Coinbase's assets under management (AUM) have surpassed $420 billion, making it more valuable than the 21st largest bank in the United States. CEO Brian Armstrong highlighted that if Coinbase were viewed as a bank, it would rank 21st by total assets. Furthermore, as a brokerage, it could be considered the 8th largest by AUM. This substantial AUM indicates significant growth in the cryptocurrency exchange sector, as Coinbase holds over $420 billion worth of digital assets. In contrast, the New York Community Bancorp (NYCB), the actual 21st largest bank, manages less than one-third of that amount. In related developments, Coinbase posted a $273 million net profit for Q4 2024, marking its first positive income since Q4 2021, despite previous losses following the acquisition of the collapsed Signature Bank. Armstrong emphasized that the future of finance will likely see a unified financial account system, merging various services and improving user accessibility, though challenges remain in removing friction points for mainstream user adoption.

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