Today cryptocurrency exchange Coinbase filed information for a direct listing of a billion dollars on Nasdaq. The document shows a highly profitable 2020, and other very strong figures. However, Coinbase could have provided more useful data about its user base.
The company had topline revenues of $1.27 billion in 2020, up 140% from 2019, and it earned net income of $322 million compared to a $30 million loss in 2019. Its risk analysis highlights the volatility of cryptocurrencies which impacts its own revenues.
More impressive is Coinbase’s assets under management are a substantial share of total cryptocurrency assets. At the end of 2020, assets custodied represented 11.1% of the total cryptocurrency market and the proportion is climbing.
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