London Daily

Focus on the big picture.
Wednesday, Oct 29, 2025

Coinbase revenue tripled from last quarter as crypto prices skyrocketed

Coinbase revenue tripled from last quarter as crypto prices skyrocketed

Coinbase revenue tripled from last quarter, as the price cryptocurrencies took off in 2021.

Coinbase shares were up about 3% in after-hours trading Thursday, after reporting that revenue and net income skyrocketed in the first quarter of 2021 as the cryptocurrency trading platform capitalized on a boom in crypto prices and corresponding interest from investors. The results largely matched estimates that Coinbase delivered on April 6, about a week before its public debut.

Here’s how the cryptocurrency exchange did in its first earnings report since the company’s direct listing in April:

*  Earnings: $3.05 per share
*  Revenue: $1.80 billion, up from $585 million in the previous quarter.

The company’s net profit for the quarter was over $771 million, more than fourfold over Q4 2020′s figure of $177 million and more than 24 times higher than the year-ago quarter’s profit.

On the earnings call, the company said that it planned to list dogecoin in the next six to eight weeks. The meme-inspired cryptocurrency was up as much as 26,000% in the last six months, before falling after Elon Musk’s “Saturday Night Live” hosting debut, in which he called dogecoin a “hustle.”


Coinbase’s fate is tethered to the performance of digital assets like bitcoin. Roughly 94% of the company’s net revenue in the first quarter came from transaction fees from trading. In an introductory note, the company noted that bitcoin prices nearly doubled during the quarter, and ether prices almost tripled.

Coinbase fees, which account for the bulk sum of the company’s revenue, are higher than some rivals. When asked about this, CFO Alesia Haas doubled down on the company’s strategy, suggesting margins will remain high for the cryptocurrency exchange.

“We’re not trying to win on fees,” said Haas. “We’re not trying to compete on fees. We’re competing on being the most trusted.”

Haas told CNBC that the company’s main focus in the first quarter was reliability. “We are dealing with unprecedented growth in demand, and our focus was making sure that our exchange stayed up.”

Monthly transacting users more than doubled from the previous quarter, from 2.8 million to 6.1 million. Coinbase’s 56 million verified users, along with record-breaking price moves in the crypto market, led trading volume to more than triple from the previous quarter.

In its release, Coinbase did not offer detailed revenue nor earnings guidance for either Q2 or the full year, warning that, “As we have previously discussed, it is important for investors to remember that our business is inherently unpredictable.” However, it offered guidance of between 5.5 million and 9.0 million monthly transacting users for the full year, depending on crypto prices, and predicted that annual average net revenue would exceed the historic mark of $35 to $45 that it’s averaged for the last two years.

During last month’s direct listing, Coinbase opened at $381 per share and was briefly valued at as much as $100 billion, a landmark event for the cryptocurrency industry.

Excluding the after-hours move, Coinbase stock has fallen about 30.4% since going public on April 14, while the Nasdaq fell 5.3% over the same period.

Newsletter

Related Articles

0:00
0:00
Close
UK Retail Inflation Slows as Shop Prices Fall for First Time Since Spring
Next Raises Full-Year Profit Guidance After Strong Third-Quarter Performance
Reform UK’s Lee Anderson Admits to 'Gaming' Benefits System While Advocating Crackdown
United States and South Korea Conclude Major Trade Accord Worth $350 Billion
Hurricane Melissa Strikes Cuba After Devastating Jamaica With Record Winds
Vice President Vance to Headline Turning Point USA Campus Event at Ole Miss
U.S. Targets Maritime Narco-Routes While Border Pressure to Mexico Remains Limited
Bill Gates at 70: “I Have a Real Fear of Artificial Intelligence – and Also Regret”
Elon Musk Unveils Grokipedia: An AI-Driven Alternative to Wikipedia
Saudi Arabia Unveils Vision for First-Ever "Sky Stadium" Suspended Over Desert Floor
Amazon Announces 14 000 Corporate Job Cuts as AI Investment Accelerates
UK Shop Prices Fall for First Time Since March, Food Leads the Decline
London Stock Exchange Group ADR (LNSTY) Earns Zacks Rank #1 Upgrade on Rising Earnings Outlook
Soap legend Tony Adams, long-time star of Crossroads, dies at 84
Rachel Reeves Signals Tax Increases Ahead of November Budget Amid £20-50 Billion Fiscal Gap
NatWest Past Gains of 314% Spotlight Opportunity — But Some Key Risks Remain
UK Launches ‘Golden Age’ of Nuclear with £38 Billion Sizewell C Approval
UK Announces £1.08 Billion Budget for Offshore Wind Auction to Boost 2030 Capacity
UK Seeks Steel Alliance with EU and US to Counter China’s Over-Capacity
UK Struggles to Balance China as Both Strategic Threat and Valued Trading Partner
Argentina’s Markets Surge as Milei’s Party Secures Major Win
British Journalist Sami Hamdi Detained by U.S. Authorities After Visa Revocation Amid Israel-Gaza Commentary
King Charles Unveils UK’s First LGBT+ Armed Forces Memorial at National Memorial Arboretum
At ninety-two and re-elected: Paul Biya secures eighth term in Cameroon amid unrest
Racist Incidents Against UK Nurses Surge by 55%
UK Chancellor Rachel Reeves Cites Shared Concerns With Trump Administration as Foundation for Early US-UK Trade Deal
Essentra plc: A Closer Look at a UK ‘Penny Stock’ Opportunity Amid Market Weakness
U.S. and China Near Deal to Avert Rare-Earth Export Controls Ahead of Trump-Xi Summit
Justin time: Justin Herbert Shields Madison Beer with Impressive Reflex at Lakers Game
Russia’s President Putin Declares Burevestnik Nuclear Cruise Missile Ready for Deployment
Giuffre’s Memoir Alleges Maxwell Claimed Sexual Act with Clooney
House Republicans Move to Strip NYC Mayoral Front-Runner Zohran Mamdani of U.S. Citizenship
Record-High Spoiled Ballots Signal Voter Discontent in Ireland’s 2025 Presidential Election
Philippines’ Taal Volcano Erupts Overnight with 2.4 km Ash Plume
Albania’s Virtual AI 'Minister' Diella Set to 'Birth' Eighty-Three Digital Assistants for MPs
Tesla Unveils Vision for Optimus V3 as ‘Biggest Product of All Time’, Including Surgical Capabilities
Francis Ford Coppola Auctions Luxury Watches After Self-Financed Film Flop
Convicted Sex Offender Mistakenly Freed by UK Prison Service Arrested in London
United States and China Begin Constructive Trade Negotiations Ahead of Trump–Xi Summit
U.S. Treasury Sanctions Colombia’s President Gustavo Petro over Drug-Trafficking Allegations
Miss USA Crowns Nebraska’s Audrey Eckert Amid Leadership Overhaul
‘I Am Not Done’: Kamala Harris Signals Possible 2028 White House Run
NBA Faces Integrity Crisis After Mass Arrests in Gambling Scandal
Swift Heist at the Louvre Sees Eight French Crown Jewels Stolen in Under Seven Minutes
U.S. Halts Trade Talks with Canada After Ontario Ad Using Reagan Voice Triggers Diplomatic Fallout
Microsoft AI CEO: ‘We’re making an AI that you can trust your kids to use’ — but can Microsoft rebuild its own trust before fixing the industry’s?
China and Russia Deploy Seductive Espionage Networks to Infiltrate U.S. Tech Sector
Apple’s ‘iPhone Air’ Collapses After One Month — Another Major Misstep for the Tech Giant
Graham Potter Begins New Chapter as Sweden Head Coach on Short-Term Deal
Ecuadorian President Daniel Noboa Alleges Poison Plot via Chocolate and Jam
×