TheStreet Crypto: everything you need to know about Coinbase's IPO

Coinbase’s first-quarter performance had revenues larger than the last two years combined, making its IPO outlook on the 14th even more promising. On Tuesday, Coinbase released its Q1 Earnings results that boasted highly impressive numbers. The US crypto giant’s announcement showed off 56 million verified users, total revenue of $1.8 billion and a net income of approximately $730 million to $800 million. Members of the crypto industry had a lot to say on Coinbase’s impressive numbers, showing that Coinbase’s upcoming IPO has a very positive sentiment.

Coinbase Makes money by charging its users to buy and sell cryptocurrency. Every time a user buys, sells or sends their cryptocurrency, they pay a fee. This is essentially a commission on transactions done on the platform. Coinbase also makes money on margin fees, custodial services and its crypto rewards credit card. How Does Coinbase Make Money?

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Coinbase Q1 Earnings Coinbase is a regulated cryptocurrency exchange in the United States. The company facilitates the buying and selling of Bitcoin along with numerous other cryptocurrencies. Coinbase serves as an easy-to-use on-ramp to the cryptocurrency markets for users looking to buy, sell and hold crypto.

An IPO’s value depends on the level of demand, how it compares to others in its industry who have already gone public, its growth prospects and the narrative and story surrounding the company. In this case, Coinbase has a unique situation. It is the first crypto exchange in the United States to go public. After its Q1 earnings report, the narrative around Coinbase is of meteoric performance numbers that have now dwarfed many of its previous years combined. How Much Will a Share of Coinbase Cost?

Frequent television crypto pundit and co-founder of Morgan Creek Digital Assets, Anthony Pompliano, said “Coinbase just reported 56 million users, $335 billion in trading volume, and $1.8 billion in revenue for Q1. What an absolute beast of a company.” “Coinbase is pretty much a better company than every financial services incumbent (growth, margins, prospects, etc.) This makes me happy,” said CEO and founder of the Digital Currency Group, Barry Silbert, via a tweet.

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TheStreet Crypto: everything you need to know about Coinbase’s IPO
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