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Coinbase Revenue Reaches $1 Billion in 2017

Coinbase, one of the largest cryptocurrency exchanges in the world booked a record revenue of $1 billion last year.

Staff Reporter Jan 23, 2018

The rise of bitcoin and cryptocurrency has made many rich last year including Coinbase. Coinbase, one of the largest cryptocurrency exchanges in the world booked a record revenue of $1 billion last year, according to a report published by Recode.

Started with Bitcoin, currently Coinbase allows its customers trade Bitcoin, BitcoinCash, Ethereum, and Litecoin cryptocurrencies. Coinbase is one of the largest and first crypto exchanges that was available to USA customer to trade cryptocurrencies.

Coinbase is a CA based privately held company founded in July 2011 by Brian Armstrong and Fred Ehrsam and has raised over $225 million in funding from the venture capital firms Andreessen Horowitz, Union Square Ventures (USV) and Ribbit Capital.

In 2014, the company grew to one million users, acquired the blockchain explorer service Blockr and the web bookmarking company Kippt, secured insurance covering the value of bitcoin stored on their servers, and launched the vault system for secure bitcoin storage.

Staff Reporter
Staff Reporter

Staff contributor of Jumpstart Blockchain covering blockchain and related topics.

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