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Coinbase Q1 revenue jumped from $190M to $1.8B ahead of public market debut

Coinbase, one of the largest cryptocurrency exchanges in the world, will go public and will have their shares traded on the Stock Exchange on April 14 and they published its estimated financial results for the first quarter of 2021 on this Tuesday (6).

Coinbase mobile app

Coinbase will be publicly traded on April 14 (Image: Coinbase)

Coinbase reported an estimated revenue of $1.8 billion for the first quarter of 2021, driving a net income of approximately $730 million to $800 million, this revenue represents a jump of approximately $1.6 billion comparing to the first quarter in 2020 where they made $190.6M.

They said they have an estimated 56 million verified customers and 6.1 million monthly transacting customers, those active users on jumped from 2.8 million in the fourth quarter of 2020 to 6.1 million in the first quarter of 2021 and the verified users increased from 43 million at the end of 2020 to 56 million.

The trading volumes topped $335 billion and they also reported $223 billion in assets on platform.

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