Coinbase wants to become the ‘Amazon of crypto’. Here is all you need to know.

Coinbase, a Nasdaq-listed crypto exchange, wants to list all legal assets on their exchange present in the crypto market. The CEO of the firm said that they want to be the Amazon of the crypto assets.

According to the firm’s Shareholder letter, the firm managed to generate 2 billion dollars. 0.1 Billion dollars were received from services and subscriptions while the remaining 1.9 Billion dollars were transaction fees. The company’s net income was calculated at 1.6 Billion dollars. The company says it has 68 million verified users and that number of retail monthly transacting users increased by 44% from quarter 1 (Q1) 2021.

Source: Google Finance

Coinbase performed very well than the expected outcome of analytics. Analysts were saying that earnings per share of the company on average will be $2.33, but the company has reported $3.45 earnings per share. The firm believes that volatility played an important role to achieve these impressive figures in Q2 2021. They elaborated that:

“As volatility and crypto asset prices are highly correlated with trading revenue, the crypto market environment heavily influenced our Q2 financial results.”    

Coinbase Futuristic Goal 

The CEO of the company, Brian Armstrong Explained that they always see the long trend and set their goals accordingly. He said almost 1.7 million people are staking their assets to yield profit from it. He also explained another factor which is the idea of Coinbase embracing decentralization. He further added:

“We want to be the Amazon of assets, list every asset out there in legal crypto. There are thousands of them today. There are eventually going to be millions of them. This is all under the theme of embracing decentralization.”

They are really working hard to achieve their goal. After the Q2 2021, the price of the stock at Nasdaq reached to as high as $275.80. To read more similar content please click here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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