Coinbase's INSANE Numbers

Happy Tuesday, Blockfolians

The Lede

Coinbase is going public on April 14th. Part of why they delayed till Q2 was so that they could share Q1’s numbers and boy are they a doozy.

  • Verified Users of 56 million

  • Monthly Transacting Users (MTUs) of 6.1 million

  • Assets on Platform of $223 billion, representing 11.3% crypto asset market share

    • Includes $122 billion of Assets on Platform from Institutions

  • Trading Volume of $335 billion

  • Total Revenue of approximately $1.8 billion

  • Net Income of approximately $730 million to $800 million

  • Adjusted EBITDA of approximately $1.1 billion

Crypto Twitter is expectedly hyped, and it’s even seeping into traditional FinTwit:

April 14th is going to to be a day to watch.

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Community Commentary

The two best explanations of the numbers

A Really Big Number We Should Be Paying Attention To

56m

That’s the number of Coinbase users. More than 4x bigger than Robinhood.


Final Thought