Crypto Company Coinbase Issues Estimated Financial Results for First Quarter 2021

Coinbase Global, Inc., a digital currency wallet and platform where merchants and consumers can transact with new digital currencies, released estimated results for its first quarter ended March 31, 2021, with trading volume reaching $335 billion and total revenue about $1.8 billion.

The company mentions that its verified users reach 56 million and monthly transacting users reach 6.1 million.

According to the announcement, the total cryptocurrency assets on its platform reached $223 billion, which represents 11.3% of the total market cap of digital currencies. The number includes around $122 billion worth of digital assets from institutional clients.

The US-based company also mentioned a net income of approximately $730 million to $800 million. In addition, the adjusted EBITDA of Coinbase reached $1.1 billion during the first quarter of 2021.

Coinbase is building the cryptoeconomy – a more fair, accessible, efficient, and transparent financial system enabled by crypto. The company started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Fazzaco has reported on Coinbase planning to go public​ on 14 April a few days ago.