Coinbase Expects $ 1.8 Billion In Profit In Q1 2021

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The American cryptocurrency exchange Coinbase, before the upcoming share placement, presented the expected financial results – for the first quarter of 2021, the company plans to receive $ 1.8 billion in profit.

It is assumed that the first quarter of 2021 could be the most successful period in the last few years. The total trading volume will be approximately $ 335 billion, while in the IV quarter of last year the figure reached only $ 89 billion. Net income will be “from $ 730 million to $ 800 million.”

Currently, 56 million verified users are registered on the site, and the number of active clients who have made at least one transaction per month is 6.1 million.The volume of cryptocurrency assets stored by the exchange is $ 223 billion.

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As a reminder, Coinbase will be directly listing the stock on the Nasdaq on April 14. At the same time, now contracts for shares are traded on the FTX site for $ 487, which gives Coinbase a capitalization of $ 121.7 billion.

In addition, Coinbase plans to continue developing its platform and increasing marketing spending. The company’s operating costs are expected to range from $ 1.3 billion to $ 1.6 billion.

According to the financial director of the exchange Alesia Haas, each active user of the company brings in a monthly profit of $ 34- $ 44. But in 2021, the company expects this figure to increase.

Earlier, Coinbase CEO Brian Armstrong said that government digital currencies could be listed on the site.

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