Coinbase breaks revenue record by earning $ 2,000,000,000 in second quarter

Coinbase generated $ 2 billion in net revenue from transactions, subscriptions and services in the second quarter of 2021, as the platform’s monthly Trading users (MTU) increased by 8.8 million – a 44% increase over the 1st quarter.

In a letter to its shareholders dated August 10, the largest crypto exchange in the US reports that retail users are “deepening their interactions” with the platform in terms of the digital assets they invest in or trade with and the products they use.

 
“About 27% of our retail MTU’s in Q2, or 2.4 million individuals, were both invested in and engaged in at least one other non-investment product. That’s 25% more than our Q1 retail MTU, or 1.5 million people.”

Coinbase currently supports 83 crypto assets for trading and 142 for storage. The exchange announced plans to add more assets as the Sunday continues to evolve beyond the initial use case of bitcoin trading (BTC).

“Bringing more assets to Coinbase, faster, more secure and ultimately listing all legal assets, is a way for us to seize this opportunity… adding more assets helps diversify the assets our customers trade.”

Coinbase reports on new use cases such as decentralized finance (Defi), non-replaceable tokens (NFT), and decentralized autonomous entities (Daos) that represent the future of the crypto economy.

“Just as Coinbase is helping people access bitcoin for the first time in a secure, familiar and easy-to-use way, we should do the same for a decentralized economy.”

Coinbase said it plans to list crypto assets faster, bring more products to the International Sunday and integrate with third-party interfaces and self-service to make decentralized applications more accessible to users.

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