The first public crypto exchange published a financial report, according to which in the second quarter of this year its profit reached $ 1.6 billion.
The net profit of the first public crypto exchange Coinbase in the second quarter of 2021 reached $ 1.6 billion, which is almost 50 times more than in the same period in 2020.
Revenue for the second quarter of this year was $ 2.03 billion, which is 40% higher than the expected amount, while last year it was at around $ 186.4 million. Earnings per share rose to $ 6.42, according to the company’s financial statements .
The trading platform‘s positive results may be due to an increase in the number of users and trading volumes.
The amount of transactions on the American crypto exchange reached $ 462 billion, while in the first quarter it was $ 335 billion (an increase of 38%). Retail customers with monthly transactions grew 44% year over year to 8.8 million.
The financial statements were released after the stock market closed.
On August 10, Coinbase was down 3.85% to $ 269.67. On April 16, shortly after the listing of the shares on the Nasdaq, their price reached an all-time high of $ 342. Since then, the asset has fallen in price by 21%.
Formerly a former US Securities and Exchange Commission (SEC) official, Brett Redfern left Coinbase, where he served as head of the capital markets division.
The company explained Redfern’s departure by the fact that the marketplace shifted priorities from securities and digital assets towards the sphere of decentralized finance.
Coinbase financial report
