Coinbase Generated $800M Profit in a Single Quarter

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CoinbaseThe emerging powerhouse in the fintech industry isn’t a lending or payments company, it’s a cryptocurrency exchange. One can express as much skepticism as they want about Coinbase, but the company, which goes public on the Nasdaq next week, generated nearly $800 million in profit in Q1 of 2021 alone.

Coinbase has 56 million verified users and holds $223 billion in assets, equal to about 11.3% of the entire crypto market.

The company says it is “building the cryptoeconomy, a more fair, accessible, efficient, and transparent financial system enabled by crypto.”

The company launched in 2012. Its last private market valuation was at about $90 billion.

Last modified: April 7, 2021
Sean Murray

Category: cryptocurrency

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