Coinbase's 2018 Revenue Is 60% Less Than Projected by the Firm: Report

Published on by Cointele | Published on

Major global crypto exchange Coinbase reportedly saw around $520 million in revenue last year, Reuters reported on April 18.

The publication calculated the sum by looking at a filing to Britain's corporate registry last week showing Coinbase's non-U.S. revenue equaled around 154 million euros, noting that a Coinbase executive once stated that the non-U.S. revenue is equal to almost one third of the overall revenue.

Based on Reuters' calculations of Coinbase's 2018 revenue, the crypto exchange has generated 60% less than its stated plans.

In late October 2018, Bloomberg published an article claiming that Coinbase had projected that it would see $1.3 billion in revenue in 2018.

In January 2018, industry sources reported that Coinbase made about $1 billion in revenue in 2017, overshooting its forecast for that year by 66 percent.

The Cointelegraph team has not found any official data from Coinbase about its revenue for either 2017 or 2018.

Founded in 2012, Coinbase is a major crypto trading and wallet service based in the United States.

Recently, the exchange was featured in LinkedIn's list of the most popular companies for 2019, with Coinbase placed at 35 out of a total of 50 companies.

Coinbase Pro is currently ranked 43rd among global crypto trading markets by adjusted daily trading volume.

On April 17, Coinbase expanded its crypto-to-crypto trading offering to 11 countries in Latin America and Southeast Asia, including Argentina, Mexico, Peru, as well as South Korea, Indonesia, the Philippines and others.

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