Earnings Coinbase

Coinbase Reports Record Net Income in 2021

Strong Performance for Leading Digital Token Marketplace

Key Takeaways:

* Coinbase reported net income of $118 billion in 2021, a 440% increase from the previous year. * The company's revenue surged due to increased trading volume and the rise in popularity of cryptocurrencies. * Coinbase remains the primary marketplace in the US for buying and selling digital tokens.

San Francisco, CA – March 10, 2022 – Coinbase Global Inc., the leading digital token marketplace in the US, reported record net income of $118 billion for the year ended December 31, 2021. This represents a significant increase of 440% compared to the company's net income of $22 billion in 2020.

Coinbase's strong financial performance was driven by a surge in trading volume on its platform. The company reported an increase in total trading volume from $229 billion in 2020 to $771 billion in 2021. This surge was primarily attributed to the increased popularity of cryptocurrencies, such as Bitcoin and Ethereum, among both individual and institutional investors.

"We are extremely pleased with our record-breaking financial performance in 2021," said Brian Armstrong, CEO of Coinbase. "Our strong results demonstrate the growing adoption of digital tokens and the increasing demand for our services. We remain committed to providing our customers with a secure and user-friendly platform for buying, selling, and storing their digital assets."

Coinbase's net income per share for the year ended December 31, 2021, was $440.00, compared to $86.67 in 2020. The company's diluted earnings per share were $43.26 in 2021, compared to $17.71 in 2020.