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Coinbase made $ 322 million in 2020

2021-02-25T17:25:17.833Z


The largest US trading platform for cryptocurrencies is profiting massively from the Bitcoin boom. This is evident from the business figures that the company published in preparation for stock sales.


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Coinbase co-founder Brian Armstrong

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Matt Winkelmeyer / AFP

The crypto exchange Coinbase is apparently in good shape ahead of its premiere on the capital market.

The turnover doubled to around 1.3 billion dollars in 2020, the profit rose to plus 322 million dollars after a minus of 30 million in 2019.

The numbers can be found in the prospectus that the San Francisco-based company filed with the US Securities and Exchange Commission in order to be able to sell its own shares on the New York tech stock exchange Nasdaq.

Coinbase claims to have 43 million users, 2.8 million of whom carry out transactions at least once a month.

The company would be the largest US trading platform for cryptocurrencies such as Bitcoin.

The company had already applied for a so-called direct placement with the SEC in January.

This involves bringing shares directly to the stock exchange without the support of investment banks and a prior pricing process.

Other larger companies such as the music service Spotify or the office chat app Slack have already been successful with this rather unusual, but cheaper variant.

Coinbase has set the course for the first premiere of a large US Bitcoin exchange on the public capital market.

It is unclear exactly when it will be so far.

According to the industry service »Techcrunch«, the company, which was founded in 2012, was valued at around eight billion dollars in a financing round by investors a good two years ago.

The course of the largest and oldest cryptocurrency Bitcoin has recently soared.

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ssu / dpa

Source: spiegel

All business articles on 2021-02-25

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