Data: Coinbase Q1 revenue reached $1.6 billion, a quarter-over-quarter increase of 72%

ChainCatcher news, according to The Block, cryptocurrency exchange platform Coinbase reported a revenue of $1.6 billion in the first quarter, a quarter-over-quarter increase of 72% and a year-over-year increase of approximately 115%. The net profit recorded was $1.18 billion (compared to a loss of $79 million in the same period last year). Institutional trading revenue increased by 113% quarter-over-quarter, reaching $85 million. Revenue from retail trading remains the main source of income, totaling $935.2 million.

According to MarketWatch data, the earnings per share were $4.04, exceeding the market's general expectation of $1.15 per share.