$520 million revenue for Coinbase in 2018, $800 million less than projected

18 Apr, 2019 | Updated: 18 Apr, 2019
by Joeri Cant
Exchange
$520 million revenue for Coinbase in 2018, $800 million less than projected

The San Francisco-based cryptocurrency exchange, Coinbase, reportedly brought in a worldwide revenue of around $520 million in 2018.

According to calculations by Reuters, Coinbase, one of the world's most popular crypto exchanges, had a total revenue of around $520 million last year.

The US crypto exchange saw non-U.S. revenue grow with 20% in 2018 to around $153 million euros, according to a filing to Britain’s corporate registry last week.

The chief executive Zeeshan Feroz, at the exchange’s UK devision, which books the firm’s non-U.S. revenue, said that this amount accounts for almost one third of the firm’s overall revenue.

Which leads to the assumed total worldwide revenue of around $520 million, booked in 2018.

'A rare glimpse into the financial health of a cryptocurrency exchange', Reuters said.

Interestingly, according to Bloomberg, Coinbase was projecting a total of $1.3 billion of revenue for 2018.

Unfortunately for Coinbase, this means that the crypto exchange generated 60%, or $800 million, less than they originally projected.

In 2017, Coinbase generated $923 million in revenue, which shows that the revenue in 2018 dropped with almost 44%, this in contrast with the almost 50% growth that was predicted for the year 2018.

In related news, Chepicap reported recently on multiple exciting announcements which were coming out of Coinbase. First off, it was revealed that 11 new countries can now use Coinbase for crypto-to-crypto trading. Furthermore, Augur (REP) will now be available at coinbase.com and the mobile apps. 

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