Coinbase Generated $520 Million in Revenue Last Year, Reuters Estimates

Cryptocurrency The exchange of Coinbase resulted in nearly $ 520 million in global revenues in 2018, according to Reuters’s estimate.

The source of the news is based on data from the UK’s stock market, which grew 20 percent last year to 153 million euros ($ 173 million), according to a report submitted to the UK. The UK business side accounts for almost a third of the company’s total revenue, said Coenbase’s CEO, Zhan Proz, to Reuters.

The claimant also said that U.K. Coinbase made a net profit of 6.6 million euros ($ 7.4 million) last year.

The Reuters news agency also reported that venture capital funds are investing millions of dollars in the Crypto and Lukasin areas, even if they are still cautious about direct involvement with the cryptocurrency.

About $ 850 million has been invested in industry so far this year, according to a PitchBook study by Reuters. While last year, 117 investments saw VC involvement increase in space by five times by a record of $ 2.4 billion.

For example, the LSE group led a $ 20 million round of financing for Nivaura earlier this year. Other key investments include one of the Microsoft MC and M2 funds and the Boston Group Group, which supported a $ 182.5 million round of the Bakkt digital asset platform – owned by Intercontinental Exchange, the parent company of the New York Stock Exchange.

The enthusiasm of the VC may die a bit. Sales totaled $ 6.5 million in 2019, less than $ 8 million last year.

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