Coinbase Has Reached 7M Funded Accounts
Coinbase, one of the largest crypto exchange platforms, and based in San Francisco, has reached a total of 7 million funded accounts, either through fiat or cryptocurrencies.
Today the exchange platform supports 25 million accounts, with just 28% of them funded. Furthermore, of the 7 million funded accounts, about 600,000 accounts are active. This data is quite significant at this time, showing how the company, valued now at $8 billion, is doing internally.
A Considerable Drop
This year was not the best for Coinbase, as it suffered a considerable drop in the volume of trading because of the continuing bear market. That drop affected the quarterly revenue of the company.
During the fourth quarter of 2017, when the bull market was really starting to take shape, Coinbase’ revenues reached over $400 million. This value actually dropped to $90 M by the third quarter of this year with an unknown profit margin. Currently, Coinbase counts among their clients 80% consumer investors along with 15% institutional investors through its crypto exchange platform. Coinbase is currently trying to close a $500 million round of funding at the self-valuation of $8 billion.