April 7, 2021
Coinbase releases Q1 financials
Coinbase released Q1 financials ahead of its upcoming direct listing. The cryptocurrency exchange has 56M users, grew to $1.8B of revenue in Q1 (up ~9x year-over-year), and generated an estimated $730-800M of net income in the quarter. The company’s growth comes amid growing corporate, institutional, and individual adoption of cryptocurrencies (e.g. Bitcoin and Ethereum).