The largest American cryptocurrency exchange Coinbase has earned $1 billion in 2017, exceeding its forecast revenue of $600 million In General revenue was a 66% increase from the expected amount.
According to Recode, despite the increased interest of foreign investors, the company remains private and is not pozvoljaet to sell their shares on the secondary market.
The area has experienced an influx of new users who actively created a trading account with the period of dominance of bullish trend on bitcoin, accompanied by strong price impulses up especially in November 2017. By December the number of users of the exchange has grown to 13 million people. So, after emergence of official information about the beginning of trading bitcoin futures on CME, Coinbase has expanded customer base to 100,000 people in just 24 hours.
Although the rate of bitcoin began to decline on the eve of the Catholic Christmas, its growth to a record level of $20 000 in mid-December allowed the Coinbase to make good money from trading on its platform.
Basic earnings exchange has received commissions when converting Fiat money into cryptocurrencies, and also at the expense of trading on the exchange GDAX.
The success of Coinbase said investors and venture capital firms. According to Recode, the company’s shares were acquired in several ways.
However, Coinbase shareholders were prohibited from selling their shares to outside parties, as it was contrary to company policy.
The company said:
“Coinbase, being a private company is not permitted to sell shares in the secondary market for many reasons. We will take appropriate action upon discovery of the facts of sale of their shares in breach of our rules.”