Coinbase’s high rating may erode as cryptographic markets mature

Coinbase's high rating may erode as cryptographic markets mature

Source www.wsj.com During the first three months of 2021, Coinbase attracted 13 million new users and estimated it generated earnings of $730 million to $800 million on revenue of $1.8 billion. Even at the lower end of that earnings range, that’s more than twice its profit for all of last year.

Based on the price of Coinbase shares in private-market trading earlier this year, the company is worth $91.5 billion on a fully diluted basis, securities filings show. And Coinbase reached that valuation even before releasing blowout results for the first quarter, when it benefited from a huge rally in the price of bitcoin.

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