Cryptocurrency exchange Coinbase on Thursday filed to become a public company and revealed that its revenue more than doubled last year.
According to the filing, Coinbase had net revenue of $1.14 billion in 2020, up from $483 million the previous year. The company also reported net income of $322 million for the year after posting a loss in 2019.
Additionally, Coinbase reported about $136 million in other revenue, which includes direct sales of crypto assets and interest income, pushing its total revenue for the year above $1.2 billion.
The company said it has 43 million verified users as of the end of 2020, with 2.8 million making monthly transactions. Trading in bitcoin and ethereum made…