CoinbaseCointelegraph.comftxIPONasdaqNewsQuarterly reportsValuation

Coinbase’s first quarter revenue hits record $1.8B ahead of its Nasdaq listing

Coinbase raked in $1.8 billion revenue in the first quarter of this year according to new figures released one week prior to the company’s public listing on the Nasdaq.
Coinbase has announced impressive first quarter results one week before the exchange’s direct listing on the Nasdaq, estimating that trading volume is up 276% and quarterly revenue has hit $1.8 billion.The bountiful revenue, revealed in the company’s Q1 earnings call, dwarf its $190 million revenue from the same time last year with the company attributing a portion of this explosive growth to Bitcoin’s bull market. The U.S exchange estimated net income between $730 million and $800 million and an EBIDTA of approximately $1.1 billion.The bull market has also seen monthly active users grow to more than six million users, up from 1.3 million in the first quarter, with crypto assets on the platform rising 1200% year-on-year from $17 billion to $223 billion. The U.S.-based exchange’s CEO Alesia Haas said:“We have seen all time high crypto prices drive elevated levels of user activity and trading volume on our platform.”Boasting 56 million verified users, Haas suggested that active monthly users could rise to seven million at most this year, although he warned this could drop to four million if a bear market hits this year.The company is spending big to acquire new customers. Following next week’s listing, Coinbase intends to increase its sales and marketing expenditure to between 12% and 15% of this year’s net revenue in an effort to drive “meaningful …
Story continues on Cointelegraph

Related posts
CoinGapeNews

Bitcoin Price Prediction: BTC crucial technical pattern could soon bolster the price to $64,000

Bitcoin trades in a rectangle pattern ahead of a potentially massive breakout. The short-term analysis validates BTC’s range trading based on the MACD. A break below the 100 SMA and the 200 SMA on the four-hour chart may culminate in…
Cointelegraph.comLuka GarzaNFTsNifty GatewayOpenseaPlayboySNL

Nifty News: Playboy's revealing tokens, SNL’s NFT skit sold as an NFT, and more ...

Playboy bunnies are set to hop into the NFT market, Saturday Night Live sold that NFT sketch for more than $360,000 with all the proceeds going to charity. Playboy centerfolds will be sold as NFTs after the classic men’s magazine…
Cointelegraph.commessagingMOBMobilecoinPrivacySignal

Encrypted messaging app Signal enables private payments using MobileCoin

High-speed privacy payments using MOB available to UK users only. Encrypted messaging app Signal has begun testing a payments feature that allows users to send cryptocurrency to other users privately.Signal announced on Tuesday, Apr. 6, that it is integrating support…