Coinbase Is Making $2.7 Million a Day

[Cordillerabit]

As America’s largest bitcoin broker, Coinbase claims the lion’s share of the money that’s pouring into the crypto space at a dizzying rate. 2017 was a bumper year for all crypto exchanges, which reported record numbers across the board: new signups, new staff hired, new trading pairs, and new revenue. Those revenue streams have turned into a torrent that has caused Coinbase’ coffers to swell.

Running a major cryptocurrency exchange can be a logistical nightmare, but the rewards make it all worthwhile. In information released to shareholders this week, Coinbase revealed that it recorded turnover of $1 billion last year, which works out at an astonishing $2.74 million a day or $2,000 a minute.

“As a private company, Coinbase does not allow trading of stock on secondary markets for a variety of reasons, including the fact that there is not full and equal information available to the market,” read a company statement. “We will take appropriate action if we find people have sold Coinbase shares in violation of our agreements not to do so.”

https://news.bitcoin.com/coinbase-making-2-7-million-day/