Reuters Report Suggests Coinbase Earned $520 Million in Revenue Last Year

Coinbase, one of the leading crypto exchanges has reportedly raked in $520 million in global revenue in 2018. The revenue reports come from an estimation done by Reuters. The agency claims that it has based its estimation on Coinbase’s UK Exchange, whose revenue grew by 20% last year to 153 million euros. The increased revenue data came from the company’s filing in the U.K.’s corporate registry.

Coinbase’s UK division accounts for almost one-third of the total revenue generated by the crypto exchange. The registry filling further shows that it generated 6.6 million euros in net profit.

The report suggests that the reason for such a massive gain can be attributed to venture capitalist investing millions of dollars in the crypto and blockchain space. The list also includes those who are still skeptical about whether to get involved with a volatile entity like crypto tokens.

The crypto space has seen well over $850 million worth of investment this year alone, while last year venture capitalists were responsible for making around 117 investments increasing the investment valuation to 5 times at $2.4 billion.

Only this year, the London Stock Exchange Group led a $20 million funding round for capital market blockchain startup Nivaura. Apart from the London Stock Exchange group, other major capital investments include Microsoft VC fund M12 and Boston Consulting Group, which backed a $182.5 million round for digital assets platform Bakkt – owned by Intercontinental Exchange, the parent company of the New York Stock Exchange.

The Growing Trend of Venture Capitalist Moving towards crypto Space

In recent years the venture capitalist has shown tremendous interest in the crypto space. The above-mentioned information clearly indicates the same. However, the growing interest also indicates that traditional player has more confidence in crypto tokens than earlier or during the bull run.

Despite 2018 bearish trends, the investment towards the decentralized space hasn’t halted or decreased significantly which suggest that the crypto markets have matured over the years.