{"id":47495,"date":"2021-08-11T10:00:25","date_gmt":"2021-08-11T07:00:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47495"},"modified":"2025-09-01T21:41:05","modified_gmt":"2025-09-01T18:41:05","slug":"coinbase-posts-2-2-billion-in-second-quarter-revenue","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/coinbase-posts-2-2-billion-in-second-quarter-revenue\/","title":{"rendered":"Coinbase posts $2.2 billion in second-quarter revenue"},"content":{"rendered":"

Coinbase’s total revenue for the second quarter was $2.2 billion, the company said in a letter to shareholders.<\/p>\n

<\/p>\n

Transaction revenue amounted to $1.9 billion. Earlier FactSet analysts forecasted<\/a> this metric at $1.57 billion, and total revenue stood at about $1.78 billion.<\/p>\n

The majority of revenue came from retail traders\u2014$1.8 billion. The figure rose 26% quarter-on-quarter from Q1.<\/p>\n

Revenue from institutional clients was $102.4 million (+20%), and from custodian services $31.7 million (+35%).<\/p>\n

Trading volume on the exchange for the second quarter reached $462 billion, up 72.5% from the previous period. For the first time Ethereum’s share of Coinbase’s total trading volume surpassed that of Bitcoin\u201426% versus 24%. The share of other assets in trading volume accounted for 50%.<\/p>\n

\"Coinbase
Data: Coinbase.<\/figcaption><\/figure>\n

The number of traders who executed trades on the exchange in a given month reached 8.8 million, and the total number of users stood at 68 million (forecasts were 6.7 million and 62.8 million, respectively).<\/p>\n

\"Coinbase
Growth in Coinbase’s total user base. Data: Coinbase, CoinDesk<\/a>.<\/figcaption><\/figure>\n

In the second quarter the headcount rose by 450 to 2,176.<\/p>\n

Representatives of Coinbase stated<\/a> that in recent months the company has entered into partnerships with a number of large companies, including PNC Bank, SpaceX, Tesla, Third Point and WisdomTree. According to them, the exchange’s services are used by more than 9,000 different organisations, including “10 of the 100 largest hedge funds by assets under management.”<\/p>\n

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“In the second quarter we obtained two key licenses, which, as we believe, will open markets in Japan and Germany,” the document states.<\/p>\n<\/blockquote>\n

Former SEC official Brett Redfern left<\/a> the post of Coinbase vice president four months after his appointment.<\/p>\n

Coinbase Q2\u201921 Shareholder Letter<\/a> by ForkLog<\/a> on Scribd<\/p>\n