Coinbase profited more in the first quarter of 2022 than in the whole of 2020, see the figures

Charlie Taylor

The United States' largest cryptocurrency exchange, Coinbase, saw a colossal increase in all earnings metrics over the last quarter of 2020, the company revealed on Tuesday in its voluntary earnings report to the U.S. Securities and Exchange Commission. (SEC). All of these users helped the company achieve revenues of US $ 1.8 billion in the quarter, with a net profit of approximately US $ 800 million. The figures were released a week before the exchange's public listing on Nasdaq. Read more: Bitcoin broker already worth more qeu Itaú and the New York Stock ExchangeOne of the main reasons for this expressive increase is the great growth of the crypto market in recent months, which now reaches the mark of US $ 2 trillion. See the exchange numbers more closely:


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Coinbase's active users jumped from 2.8 million in the fourth quarter of 2020 to 6.1 million in the first quarter of 2022; Verified users increased from 43 million in late 2020 to 56 million; Turnover reached US $ 335 billion in the first quarter. Throughout 2020, turnover was $ 193 billion; Total assets on the Coinbase platform increased from 90 to $ 223 billion, an increase of almost 150% over the previous quarter. Showing how Coinbase solidly established itself at the center of the current bullish cycle, about $ 122 billion of these assets were from institutions. On the retail side, the company will add more assets and give people more access to decentralized finance applications (DeFi), said the Coinbase CEO, Brian Armstrong, during the earnings conference call. On the institutional side, the company will continue to develop its brokerage offering and intends to use the acquisition of Bison Trails to create what Armstrong called “Amazon Web Services for cryptocurrencies”. in a “high” performance scenario, Coinbase would have an average of 7 million monthly users with the market up, in a “medium” scenario, the exchange would have an average of 5.5 million monthly users if the capitalization of me market to remain stable. In a “bearish” scenario, the average would be 4 million if we experience a declining market. “Over the past two years, we have seen the average net revenue per (user with monthly transactions) vary between $ 34 and $ 45 per month, ”said Coinbase CFO, Alesia Haas. She said she expects average net revenue per user to reach new highs in 2022. A new group of Coinbase stock analysts was particularly interested in user metrics: “The first quarter more than doubled monthly users sequentially and revenue followed three times higher than in the previous quarter, ”said James Friedman, senior fintech research analyst at Susquehanna International Group. Do you think Coinbase will continue to grow after entering the US Nasdaq stock exchange? And in Brazil, what will be the first broker to go public on the stock exchange? Leave your opinion in the comments below.Read more: Oil and gas company partners for Bitcoin green mining

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