Cryptocurrency platform Coinbase saw its net revenue grow again in late 2024, caused by the growing hype surrounding Bitcoin ETFs. The Delaware-based company had more net revenue in the second half of 2023 than in the entirety of 2022. This coincides with the time that the price of Bitcoin started to increase. The growing interest in crypto is important to Coinbase's business model, as the prospectus listed that transaction revenue made up "over 96 percent" of the company's net revenue towards the end of 2020.
Revenue of Coinbase from 1st quarter of 2019 to 1st quarter of 2024
Characteristic
Net revenue (in million U.S. dollars)
Year-on-year percentage change (%)
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Statista, & US Securities and Exchange Commission. (May 2, 2024). Revenue of Coinbase from 1st quarter of 2019 to 1st quarter of 2024 [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1228390/net-revenue-of-coinbase/
Statista, und US Securities and Exchange Commission. "Revenue of Coinbase from 1st quarter of 2019 to 1st quarter of 2024." Chart. May 2, 2024. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1228390/net-revenue-of-coinbase/
Statista, US Securities and Exchange Commission. (2024). Revenue of Coinbase from 1st quarter of 2019 to 1st quarter of 2024. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1228390/net-revenue-of-coinbase/
Statista, and US Securities and Exchange Commission. "Revenue of Coinbase from 1st Quarter of 2019 to 1st Quarter of 2024." Statista, Statista Inc., 2 May 2024, https://www.statista.com/statistics/1228390/net-revenue-of-coinbase/
Statista & US Securities and Exchange Commission, Revenue of Coinbase from 1st quarter of 2019 to 1st quarter of 2024 Statista, https://www.statista.com/statistics/1228390/net-revenue-of-coinbase/ (last visited July 22, 2024)
Revenue of Coinbase from 1st quarter of 2019 to 1st quarter of 2024 [Graph], Statista, & US Securities and Exchange Commission, May 2, 2024. [Online]. Available: https://www.statista.com/statistics/1228390/net-revenue-of-coinbase/