Coinbase, issuing its first quarterly earnings report as a public company, reported Q1 results largely in line with its preliminary announcement made early last month. The U.S.’ largest cryptocurrency exchange boosted its year forecast range for active users, a key metric.
For the Q1, Coinbase reported:
For Q2, Coinbase said it expects all of its business metrics to meet or exceed the results recorded in Q1. Q2 trading volume will “slightly” exceed Q1 trading volume if it persists at the same pace, the company said.
Coinbase expects $35 million in one-time expenses related to its direct listing. It also expects between $1.3 billion to $1.6 billion costs from its technology and its development expenses general and administrative expenses in the full year 2021.
