4 ms·
They also did over $1B in revenue last year
by austenallred 9y ago
They also did over $1B in revenue last year
- ttul 9y agoWut
- BillinghamJ 9y agoActual revenue, or just market trading volume? If the latter, $1bn sounds like a lot but actually isn’t really.
- Kiro 9y agoOf course it's not the latter. $1bn is like a couple of days of trading volume at GDAX alone.
- ajiang 9y agoI believe it's actual revenue
- ascar 9y agoMight still not be that much, if earnings through exchange rate gains were also part of their revenue. btc made what? Over 1000% in that year? If they pooled earlier in the year that are huge gains. If it's only from their 1.5% cut, it is really impressive.
- charlesdm 9y agoExchanges are literally printing money. I think nearly a million Ether a day was traded on Gdax at the top. At $1,400 you're talking $1.4bn a day in trading volume, on (at least) half of which they take a 0.3% fee. That's $2.1m a day, just from ETH. Then there's Bitcoin and Litecoin. Bitcoin probably makes a similar amount. And their "simplified" website on which they charge higher fees.
- garmaine 9y agoThey would be fractional if they were literally printing money.
- annabellish 9y agoRight, it's Tether which is doing that, not Coinbase!
- tomasien 9y agoIt was fee revenue
- ryanwaggoner 9y agoIt's gotta be actual revenue. $1bn in market trading volume for Coinbase sounds tiny. That's only a few million per day.
- austenallred 9y agoActual revenue https://www.recode.net/2018/1/22/16911692/cryptocurrency-bitcoin-trading-coinbase-revenue-secondary https://www.recode.net/2018/1/22/16911692/cryptocurrency-bit...
- mbesto 9y ago> Recode has learned from industry sources First, it's unconfirmed. What exactly does "industry sources" mean? That someone who knows someone who works there said "oh ya we make a billion dollars dude". Second, it could also mean "gross revenue" in some form. I don't believe any of this stuff until someone reputable confirms some level of it. Doesn't it seem strange that they made "exactly $1b"? Not $750M, or $1.2B, or $500M, but $1B? I think the jury is still out.
- icebraining 9y agoDoesn't it seem strange that they made "exactly $1b"? That would be strange, but the article doesn't say that, it says "over $1 billion".
- noitsnot 9y agoProfit is what matters. I imagine it's pretty large also.
- austenallred 9y agoI guarantee you they didn’t spend $1 billion last year
- api 9y agoWhy would they be raising VC then?
- tomasien 9y agoMost of that $$ was loaded towards the end of the year, so they were in the middle of the raise as it ramped up insanely. They closed the raise before the revenue was hitting that mark, announced it in August, then it turned out to be likely irrelevant when they made another $600m to finish 2017 and no signs of stopping (although slowing) in 2018.
- charlesdm 9y agoFounder cashing out some might also be a reason.