The Coinbase direct listing is coming, and it’s expected to be a doozy.
The leading crypto exchange will begin trading on the Nasdaq next week, and one can imagine that the timing of this decision was an indication of how confident management was in the company’s Q1 results and guide for 2021 yesterday afternoon. The report serves as a fundamental checkpoint for the space as a whole.
And boy howdy: Ring the bell. Talk about a blowout report.
Coinbase released performance data yesterday afternoon showing historic bombshell results, with revenue climbing more than 800% year-over-year to an estimated $1.8 billion. Net income posted a sick climb to between $730-$800 million from $32 million a year earlier.
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