Crypto exchange Coinbase said it earned $2.5 billion in net revenue during Q4 of 2021 in a Thursday earnings release.
Among the other key metrics released: $840 million net income, $1.2 billion in adjusted EBITDA, and 11.4 million monthly transaction users or MTUs. Of the $547 billion in reported volume, $177 billion came from retail and $371 billion came from institutional traders.
"In 2021, millions of new users joined the cryptoeconomy through Coinbase; we generated $7.4 billion in net revenue – including $2.5 billion in the fourth quarter; we became the first publicly traded crypto asset trading platform; and we made substantial progress in building a best-in-class infrastructure to enable easy, safe and secure on-ramps and access into the global cryptoeconomy," the firm said in its shareholder letter.
