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Coinbase Hits Second-Best Year Ever
Dimon Criticizes Bias Training Costs and U.K. Partners with Anthropic on AI

CRYPTO
Coinbase Hits Second-Best Year Ever
Coinbase, the largest U.S. crypto exchange, nearly doubled its net revenue to $2.2 billion in Q4, surpassing analyst expectations of $1.8 billion. Net income skyrocketed 1,600% to $1.3 billion, while trading volume surged 176% to $94 billion, reflecting renewed retail investor interest.
Despite strong earnings, Coinbase shares initially fell 5% in after-hours trading before rebounding above $300. The company noted a “sea change” in the regulatory environment, creating new opportunities for the crypto industry.
For 2024, Coinbase posted $6.3 billion in revenue and $2.6 billion in net income, marking its second-best year ever after the 2021 bull run.
After struggling in 2023 amid SEC scrutiny and declining crypto prices, Coinbase rebounded as Bitcoin ETF approvals and pro-crypto election results fueled optimism. The stock hit an all-time high of $343 in December before dipping below $300 in early 2025, signaling ongoing market volatility.
FINANCE
Dimon Criticizes Bias Training Costs
JPMorgan Chase CEO Jamie Dimon, known for his direct approach, has reportedly expressed doubts about unconscious bias training and hinted at cutting some DEI programs. Speaking at a town hall in Ohio, Dimon stated that the bank may have overspent on certain diversity-related initiatives, adding, "I was never a firm believer in bias training."
While Dimon reaffirmed JPMorgan’s commitment to diversity, he criticized bureaucracy, saying, "I saw how we were spending money on some of this stupid sh-t, and it really pissed me off."
JPMorgan launched DEI initiatives in recent years, including the "You Belong Here" training program and a $30 billion racial equity investment. By December 2023, the firm had already allocated $31 billion toward these efforts.
Despite these public commitments, Dimon’s latest remarks suggest a shift in priorities, raising questions about which DEI programs may be on the chopping block. JPMorgan has yet to comment on specific plans.
TECH
U.K. Partners with Anthropic on AI
The United Kingdom has signed a partnership with U.S. AI firm Anthropic while simultaneously shifting its approach to AI safety regulation. The government announced that the U.K. AI Safety Institute (AISI) is now renamed the AI Security Institute, focusing exclusively on security risks rather than societal concerns like misinformation and bias.
The restructured AISI will work closely with the Home Office and establish a criminal misuse team to combat AI-related threats. Meanwhile, the U.K. will collaborate with Anthropic to explore AI applications in public services and scientific research.
This strategic shift aligns the U.K.’s AI policies with those of the Trump administration, which has emphasized AI opportunity over regulation. The government has also declined to sign the Paris AI Action Summit’s declaration, citing concerns over global governance.
While the U.K. prioritizes security-focused AI oversight, questions remain about who will now monitor AI bias and societal risks as the AISI moves away from these areas.
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