Exchange

Coinbase brought in revenue of around $520 million in 2018, 60% less than projected

April 18, 2019, 7:38AM EDT

Coinbase, the largest cryptocurrency exchange in the U.S., brought in revenue of around $520 million in 2018 according to an estimate from Reuters.

According to a document reviewed by Bloomberg in October, Coinbase had projected $1.3 billion of revenue for 2018, which means they generated 60% less than they originally projected. In 2017, Coinbase generated $923 million in revenue meaning that the revenue in 2018 was down nearly 44% year-over-year.