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COINBASE revenue +1,152% in ONE YEAR

Coinbase posted RECORD quarterly profit and revenue

Here are the numbers:

Revenue: $2.23 billion vs. $1.78 billion estimated Earnings: $3.45 per share, adjusted, which excludes stock-based compensation benefits vs. $2.33 estimated

Coinbase posted record $2 billion profits and revenues for the three months ended on June 30.

$COIN shares dropped as much as 1.36% in extended trading Tuesday on warnings of lower trading volume later this year and as Infrastructure Bill spoils the party.

Ethereum surpasses Bitcoin in trading volume for the first time on Coinbase platform.

Coinbase's revenue rose more than 1,100% in just one year.

The company also reported a spike in user activity, up 44% from Q1, total base of verified users climbing to 68 million.

Coinbase has benefited from the global crypto adoptions as many tech giants are jumping on the crypto bandwagon.

Ethereum accounting for 26% of trading volume versus 24% for Bitcoin

The management also noted it now has over 9,000 institutional customers and mentioned that Sotheby's auction house had settled its first transaction in crypto thanks to a collaboration with Coinbase.

Coinbase CEO Brian Armstrong:

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