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Coinbase reports $1.8 billion revenue in first quarter

This will ramp up interest in its direct listing slated for April 14.

Coinbase CEO Brian Armstrong
Photo: Michael Short/Bloomberg via Getty Images

Coinbase generated more revenue in the first quarter of 2021 than all of last year — blowout numbers that will ramp up interest in its direct listing slated for April 14.

In the first quarter, Coinbase reported total revenue of about $1.8 billion, and net income of about $730 million to $800 million, with EBITDA coming in at about $1.1 billion.

Riding a wave of Bitcoin interest and price jumps, the cryptocurrency exchange reported an eye-popping trading volume of $335 billion in the quarter. Assets on the platform grew to $223 billion, or 11.3% of crypto asset market share, the company said.

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 Tomio Geron

Tomio Geron ( @tomiogeron) is a San Francisco-based reporter covering fintech. He was previously a reporter and editor at The Wall Street Journal, covering venture capital and startups. Before that, he worked as a staff writer at Forbes, covering social media and venture capital, and also edited the Midas List of top tech investors. He has also worked at newspapers covering crime, courts, health and other topics. He can be reached at tgeron@protocol.com or tgeron@protonmail.com.

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