Coinbase Booked $1b in 2017 Revenue

Despite huge revenue, company remains closed and doesn't allow to sell its shares on the secondary market
23 January 2018   1351

The largest American cryptocurrency exchange, Coinbase, has earned $ 1 billion in 2017, which is 66% higher than the expected revenue of $ 600 million, Recode reports referring to "sources from the industry." According to the information of the portal, despite the growing interest from outside, the company remains closed and does not allow trading its shares on the secondary market.

Coinbase faced a real wave of new users in 2017 due to Bitcoin price jump. After the announcement of the bitcoin futures launch in November, 100,000 users registered at Coinbase in 24 hours.

Although the growth of bitcoin was replaced by a recession at the end of last year, this did not prevent Coinbase from demonstrating record profitability, secured by huge profits due to transactions carried out on its platform.

The success of Coinbase did not go unnoticed among investors and venture capitalists. According to Recode, interested parties are trying to get a stake in the company in various ways, but Coinbase told its shareholders not to sell their shares to third parties.

As a private company, Coinbase does not allow trading of stock on secondary markets for a variety of reasons, including the fact that there is not full and equal information available to the market. We will take appropriate action if we find people have sold Coinbase shares in violation of our agreements not to do so.
 

Coinbase

Such activities will be considered a violation of the company's policies, said a representative of Coinbase in a conversation with Recode.

Coinbase to List Stellar

As reported, at first, the coin will not be available to residents of the UK and the state of New York
19 March 2019   181

Wallet and mobile applications (for iOS and Android) from leading American cryptocurrency company Coinbase now support Stellar Lumens digital asset (XLM).

Stellar’s cryptocurrency, the Stellar Lumen (XLM), powers the Stellar payment network. Stellar aims to connect banks, payment systems and individuals quickly and reliably. Since its launch in 2014, its vision has been to unite the world’s financial infrastructure so that money can flow quickly and cheaply between banks, businesses, and people. The Internet connected the world’s computers so that information could be shared globally. Stellar aims to do the same for money.
 

Coinbase Team

The new asset is available to Coinbase.com users from most jurisdictions. However, at first, the coin will not be available to residents of the UK and the state of New York.