Coinbase First-Quarter Revenue Soars 900% Ahead of Highly-Anticipated IPO
Ahead of its NASDAQ initial public offering next week, cryptocurrency exchange platform Coinbase has now reported a staggering 900 percent increase in revenues over the first quarter of 2021.
Translated into concrete figures, the company brought in $1.8 billion USD in revenues over the first three months of the year, leading to a roughly $800 million USD net income. Over the Q1 alone, the exchange service added 13 million new users and now carries 56 million verified users in total, 6.1 million of which trade monthly.
