Coinbase’s monster Q1 in context – TechCrunch
Coinbase’s monster Q1 in context The crypto company just crushed the first three months of 2021In the first quarter of 2021, American consumer cryptocurrency trading giant Coinbase grew sharply, generating strong profits at the same time. For Coinbase, the disclosure of its preliminary Q1 2021 results comes a week ahead of its direct listing, an event that will see the company begin to trade publicly. For example, in Q1 2020 Coinbase’s revenues were $190.6 million, or just under 11% of its Q1 2021 top line. The company’s adjusted profits alone in Q1 2021 were more than five times its year-ago revenues. The first “assumes an increase in crypto market capitalization and moderate-to-high crypto asset price volatility,” leading to 7.0 million MTUs.