Coinbase Reports Major Growth In Q1

As major cryptocurrency exchange Coinbase prepares to start trading publicly on Nasdaq, it announced its first quarter estimated results and outlook for 2021 as a whole.

Its net income for the quarter is estimated at between $730 million to $800 million, with total revenue of approximately $1.8 billion — up from about $190.6 million in the first quarter of 2020, per CNBC. It estimates its verified user count for the quarter to be 56 million (up from 43 million at the end of 2020), with 6.1 million counted as monthly transacting users (MTUs). It estimates its first quarter trading volume at $335 billion.

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