{"id":40295,"date":"2021-04-06T23:34:11","date_gmt":"2021-04-06T20:34:11","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=40295"},"modified":"2025-08-30T13:30:35","modified_gmt":"2025-08-30T10:30:35","slug":"coinbase-reports-first-quarter-results-revenue-of-1-8-billion","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/coinbase-reports-first-quarter-results-revenue-of-1-8-billion\/","title":{"rendered":"Coinbase reports first-quarter results \u2014 revenue of $1.8 billion"},"content":{"rendered":"<p>Coinbase reports first-quarter results; revenue stood at $1.8 billion, with net income estimated at $730\u2013800 million.<\/p>\n<figure class=\\\"wp-block-image size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"358\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-04-06-v-23.29.24-1024x358.png\\\" alt=\\\"Coinbase reports first-quarter results \u2014 revenue was $1.8 billion\\\" class=\\\"wp-image-130825\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-04-06-v-23.29.24-1024x358.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-04-06-v-23.29.24-300x105.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-04-06-v-23.29.24-768x269.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-04-06-v-23.29.24-1536x537.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-04-06-v-23.29.24-2048x716.png 2048w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption>Data: Coinbase. <\/figcaption><\/figure>\n<p>The number of verified users rose to 56 million from 43 million in the fourth quarter of last year. The monthly active users reached 6.1 million.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Growth over last quarter<\/p>\n<p>\u2022 Revenue \u2014> 207.6%<br \/>\u2022 Net income \u2014> 312.9%<br \/>\u2022 Traded volume \u2014> 272.0%<\/p>\n<p>\u2014 Larry Cermak (@lawmaster) <a href=\\\"https:\/\/twitter.com\/lawmaster\/status\/1379528564530380802?ref_src=twsrc%5Etfw\\\">April 6, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The user base is larger than that of Cash App from Square, as well as Robinhood, Venmo and eToro.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">1\/ The 56M user # is bigger than <a href=\\\"https:\/\/twitter.com\/CashApp?ref_src=twsrc%5Etfw\\\">@CashApp<\/a> &amp; <a href=\\\"https:\/\/twitter.com\/Venmo?ref_src=twsrc%5Etfw\\\">@Venmo<\/a> and significantly larger than <a href=\\\"https:\/\/twitter.com\/RobinhoodApp?ref_src=twsrc%5Etfw\\\">@RobinhoodApp<\/a> &amp; <a href=\\\"https:\/\/twitter.com\/eToro?ref_src=twsrc%5Etfw\\\">@eToro<\/a>. That&#8217;s greater than every bank not named <a href=\\\"https:\/\/twitter.com\/search?q=%24JPM&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$JPM<\/a>.<\/p>\n<p>\u2014 John Street Capital (@JohnStCapital) <a href=\\\"https:\/\/twitter.com\/JohnStCapital\/status\/1379527484945891339?ref_src=twsrc%5Etfw\\\">April 6, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>This is the best quarter in the company&#8217;s history, a strong case for a valuation above $100 billion following a <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-announces-date-for-direct-listing\">direct listing scheduled for April 14<\/a>, according to many analysts.<\/p>\n<p>Assets on the platform total $223 billion \u2014 about 11.3% of the total market capitalization, the company said. Of this amount, $122 billion is held by institutions, Coinbase stressed.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">If you think a $100+ billion valuation for Coinbase is too high\u2026 <\/p>\n<p>Remember they own 11.3% of the entire crypto market cap \ud83e\udd2f<\/p>\n<p>I\u2019d bet that this mcap will be multiples higher than it is now and that value will be directly monetized by CB who will be literally printing $$<\/p>\n<p>\u2014 Jack Purdy (@jpurd17) <a href=\\\"https:\/\/twitter.com\/jpurd17\/status\/1379529182925877248?ref_src=twsrc%5Etfw\\\">April 6, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>If compared with the largest banks, it would rank 17th by assets in the United States.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Coinbase would now be the 17th largest bank in the United States, with $223 billion in assets.<\/p>\n<p>\u2014 Documenting Bitcoin \ud83d\udcc4 (@DocumentingBTC) <a href=\\\"https:\/\/twitter.com\/DocumentingBTC\/status\/1379533312931282947?ref_src=twsrc%5Etfw\\\">April 6, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Quarterly trading volume was $335 billion. Revenue fell to 0.56% of the volume.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">As expected, the ratio between volume and revenue has declined from 0.67% to 0.56%. This is simply because way more volume also means way more market makers and fees get skewed lower. But the ratio is still higher than I expected, which means more retail has come! <a href=\\\"https:\/\/t.co\/n5ODf2ShfY\\\">pic.twitter.com\/n5ODf2ShfY<\/a><\/p>\n<p>\u2014 Larry Cermak (@lawmaster) <a href=\\\"https:\/\/twitter.com\/lawmaster\/status\/1379531762964037635?ref_src=twsrc%5Etfw\\\">April 6, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>On April 1, the SEC approved the company&#8217;s S-1 filing. According to the document, <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-to-list-114-9-million-class-a-shares-in-direct-listing\">the exchange will offer 114,850,769 shares<\/a>. In the first quarter through March 15, the stock&#8217;s volume-weighted average price on the secondary market stood at $343.58 on Nasdaq Private Market.<\/p>\n<p>In March, the company settled claims by the Commodity Futures Trading Commission (CFTC) related to falsification of trading activity data from January 2015 through September 2018. <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-to-pay-6-5-million-fine-for-falsifying-trading-activity-data\">The fine amounted to $6.5 million.<\/a> Analysts at the time cited this as the main reason for moving the direct listing to April.<\/p>\n<p>In the run-up to the historic event, Coinbase hired former senior SEC official <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-hires-former-sec-official-to-engage-with-investors\">Brett Redfern<\/a> and former Morgan Stanley top executive <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-hires-former-morgan-stanley-executive\">Ian Rooney<\/a>.<\/p>\n<p>Subscribe to ForkLog&#8217;s Telegram news: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto exchange Coinbase reported first-quarter results. Revenue was $1.8 billion, and net income is estimated at $730\u2013800 million.<\/p>\n","protected":false},"author":1,"featured_media":40296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[138],"class_list":["post-40295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coinbase"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=40295"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40295\/revisions"}],"predecessor-version":[{"id":40297,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40295\/revisions\/40297"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/40296"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=40295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=40295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=40295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}