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Wednesday, January 26, 2022

Coinbase Drew In Over A Billion The Previous Year

Coinbase drawing in over a billion in revenue just the previous year shouldn’t be a surprise to anyone- for they have been the largest exchange of cryptocurrency in the States. They filed a couple of new documents last Wednesday- before they would be eligible for a public listing on the NASDAQ. This would allow investors a chance of getting in close to check in on the company which stands at the forefront of the cryptocurrency boom. With most of the prices soaring, Coinbase is gaining a massive stronghold in the market. This has led to quite a few institutional investors piling in to get a few stocks in the firm. 

Key Facts About Coinbase

  1. The revenue generated by Coinbase in 2020 was at a whopping $1.27 billion, which is more than double the revenue that was earned the previous year. The net margin was set at 25%. 
  2. With Forbes reporting the revenue generated by most of the Fortune 500 companies, Coinbase brought in around $585 million in total revenue- which was just for the last quarter. 
  3. According to an official report from the company, most of their net revenue came in through transactions- especially in the cryptocurrencies like Ether and bitcoin. It surely helps that these are the largest cryptocurrencies in the world, and they account for over 56% of the total volume of trading. 
  4. In 2019, this cryptocurrency exchange faced a loss of around $30 million- in 2020, they got in $322 million as profit.
  5. The company came clean about them having close to 43 million retail users on the platform- out of which 2.8 million would routinely make transactions every month. 

Brian Armstrong, the CEO of this crypto exchange went away with $59.5 million the previous year as compensation. And incidentally, this is way more than what David Solomon, the CEO of Goldman Sachs, or Jamie Dimon, the CEO of JPMorgan made the previous year. 

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