Coinbase Posts Record $1.8 Billion In Revenue As Crypto Market Shoots Past $2 Trillion

SourceForbes
SectorEconomy
CountryMiddle east

Share to Linkedin Ahead of its long-anticipated public market debut next week, crypto-brokerage Coinbase previewed results for its best quarter ever, pulling in $1. 8 billion in first-quarter revenue, as booming interest in cryptocurrencies pushes the market to meteoric new highs. Coinbase founder and CEO Brian Armstrong attends Consensus at the Hilton Midtown on May 15, 2019, in ... [+] New York City.

Shortly after the market close on Tuesday, Coinbase, the nation's largest cryptocurrency exchange, reported first-quarter revenue that soared nearly 900% from $190. 6 million in the same period last year, blowing past the $585 million nabbed in the fourth quarter. Reflecting the surging interest in cryptocurrencies, Coinbase's trading volume totaled $335 billion in the quarter, eclipsing the $30 billion worth of trades in the first quarter of 2020. Meanwhile, the platform's verified users (those with confirmed identities who are eligible to trade) swelled to 56 million at quarter's end, compared to 34 million one year prior. Founded...read more...