Coinbase S-1 First Impressions: The Block Research
Quick Take
- Coinbase reported net income of ~$322 million in 2020 on total revenue of $1.28 billion
- About $1.1 billion (86%) of its revenue in 2020 came from transaction fees while the rest came from subscription services and other
- Coinbase has ~43 million registered retail users and ~7,000 institutional accounts with nearly 3 million monthly active transactors
- It stores a total of $90 billion in assets stored across both retail and institutional platforms
- Coinbase currently serves customers in over 100 countries with ~76% of customers in the United States and 24% in Europe
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Author: Ryan Todd
