Just a few days away from Coinbase’s public listing, the crypto exchange announced its results for the first quarter of 2021, setting a new record in its history.
An amazing first quarter of 2021
Today the crypto exchange Coinbase has published the results obtained during the first quarter of the year. In this sense, it revealed to have obtained a profit of between $ 730 million and $ 800 million in income of approximately $ 1.8 billion, that is, the crypto firm ensures that income increased more than 9 times compared to the previous year. This translates into a margin of over 40%.
However, it is worth bearing in mind that they warn to be preliminary results, this means that they have not been audited.
In addition, the crypto exchange claimed to have 56 million verified users on the platform.
It is quite likely that Coinbase’s performance in the first quarter will propel the share price to new highs ahead of the April 14 trading date. In fact, according to CNBC, negotiations in the private market have valued the company at $ 68 billion.
The crypto leader could fall apart at any moment
Mohamed El-Erian, Allianz Chief Economic Advisor, assured that Bitcoin is not too big to fail, and if it does, it could disrupt the global monetary system.
Furthermore, El-Erian suggested that the adoption of the leading crypto by the private sector will continue. However, he cautioned that the government may not tolerate it.
Goldman Sachs: Crypto Regulation Is Near
David Solomon, CEO of Goldman Sachs, explained during an interview with CNBC that Bitcoin and the crypto market will undergo a great evolution, especially when it comes to crypto regulation.
In this sense, he assured that Goldman Sachs is strongly committed to its clients and, therefore, paying attention to regulations to see how to move forward.
But, according to former presidential candidate Ron Paul, «the government is a threat because it will crack down because it has the capacity to do so». In this sense, the government appears to be a strong threat to the crypto leader.
Meanwhile, Bitcoin’s $ 1 trillion market cap has held strong since March 26.
CoinMarketCap will not take South Korean crypto data into account
CoinMarketCap has removed several South Korean crypto exchanges from its calculations for the price of Bitcoin, such as Upbit, Bithumb, Coinone, and Korbit. The crypto website assured that the removal was due to the premium observed in the main crypto exchanges in South Korea.
«If prices on South Korean exchanges stabilize, we will add the data again, but that has not happened yet.».
In a few lines …
- Crypto Council for Innovation will aim to facilitate constructive dialogue with governments and regulatory agencies on the benefits of the crypto industry.
- The Bitcoin Lightning Network has doubled year over year. You already have 10K active nodes!
- Grayscale plan launch your own Bitcoin crypto ETF.