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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.

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. He was also as a staff writer at Forbes covering social media and venture capital, and edited the Midas List of top tech investors. He can be reached at tgeron@protocol.com or tgeron@protonmail.com.

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