February 26, 2021, 7:35AM EST
• 11 min read

Coinbase S-1 First Impressions: The Block Research

Quick Take

  • Coinbase reported net income of ~$322 million in 2020 on total revenue of $1.28 billion
  • About $1.1 billion (86%) of its revenue in 2020 came from transaction fees while the rest came from subscription services and other
  • Coinbase has ~43 million registered retail users and ~7,000 institutional accounts with nearly 3 million monthly active transactors
  • It stores a total of $90 billion in assets stored across both retail and institutional platforms
  • Coinbase currently serves customers in over 100 countries with ~76% of customers in the United States and 24% in Europe

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