$2 Billion in Net Revenue for the 2nd Quarter Reported by Coinbase

The amount of around $2 billion was reported by Coinbase for Q2, most generated from retail transaction revenue.

According to today’s shareholder letter, institutional-oriented revenue made up $102 million which added with the $1.82 billion in retail transaction revenue make up $1.93 billion overall.

This signifies a $39 million increase in revenue compared to the 1st quarter, and a $465,47 million increase compared to the 4th quarter of 2020.

As per the shareholder letter, revenues from additional sources consisted of $102.6 million from subscription and services, blockchain revenue of $39 million, as well as custodial fees, and earn campaigns consisting of respectively $31,7 million and $16,9 million.

A total of $462 billion was marked by Coinbase in volume: retail consisted of $145 billion and institutional of $317 billion.

The drivers of the trading volume were the innovation of new products, the strength of the crypto market, increase in MTUs, and supporting capabilities for assets to be traded.

Assets in Coinbase for Q2 from institutional consisting of $92 billion and retail $88 billion made up $180 billion in total reported. Ethereum (ETH) made 24% of the amount, whereas Bitcoin (BTC) amounted to 47%.

The total market cap of crypto assets was reported at 11.2%. According to the shareholder letter, billions in asset influxes and new clients were seen all through the second quarter, even with the price fluctuations.

MTU growth for Q2 was reported at 8.8 million. The value of Coinbase’s stock at closing today was $269.67. 

Also read: No Further Interpretation on Crypto –US Senate Passes the Infrastructure Bill Anyway