Coinbase is one of the leading crypto exchanges globally and the largest crypto exchange in the US. The company is often in the spotlight of market analysts and crypto enthusiasts to see how the market is faring at the moment. In 2022, Coinbase statistics show the exchange experienced a significant loss due to market volatility which caused the majority of its userbase to shift to non-investing activities.
However, Coinbase pushed further to keep investing in new ventures, building new partnerships, and developing its services further, as its leadership considers the market slump an opportunity to build and strengthen its position. Here are the numbers you need to know to understand the current position of Coinbase.
10 Coinbase Statistics and Facts to Know in 2023
Coinbase is the largest crypto exchange in the US.
Coinbase Ventures is currently one of the two largest CVCs in the world.
Coinbase has 103 million verified users in 2022.
Coinbase had 9 million monthly transacting users in Q2 2022.
51.62% of Coinbase’s traffic in August 2022 came from the US.
Coinbase assets equal $96 billion in Q2 2022.
Coinbase’s net income in Q2 2022 is a $1.1 billion loss.
Coinbase’s trading volume in Q2 2022 amounted to $217 billion.
Bitcoin makes up 44% of all assets on the Coinbase platform.
Coinbase makes the bulk of its revenue from transaction fees, with fees bringing $655.2 million in Q2 2022.
General Coinbase Statistics and Facts
Coinbase is a company with no headquarters.
One of the basic facts about Coinbase is that it’s now a remote-first, decentralized company focusing on global talent. Although it was founded in San Francisco, its headquarters are now wherever its employees wish to be, with 95% of employees having the right to work from home, in an office, or both. It also stated that all of its employees will have to have the same rights to training and the same educational opportunities, regardless of whether they work from home or in an office.
(Coinbase)
The company has around 4,900 employees around the world.
The crypto market was affected by the global market instabilities starting from 2020. Coinbase was among several companies such as BlockFi and Crypto.com that had to cut costs. Consequently, Coinbase let go 18% of its workers in 2022.
(Block, Statista)
Coinbase is the largest crypto exchange in the US.
Coinbase is available in more than 100 countries but the majority of its users are in the US. According to Kaiko, the exchange is the largest in the US. Coinbase stats show its market share exceeded 70% at the end of 2021. Even though it’s fallen to around 50% of the market in the meantime, it’s still the dominant crypto exchange in the country.
(Kaiko)
Coinbase Pro regularly ranks in the top 5 exchanges in the world according to daily trading volume.
CoinRanking shows Coinbase Pro is trusted by millions worldwide. At the time of writing, Coinbase had a daily volume of $2.2 billion a day. Coinbase lists 144 cryptocurrencies at the moment, with its Pro platform used by advanced traders.
(CoinRanking)
Coinbase Ventures is currently one of the two largest investors in innovative companies.
One of the most fascinating Coinbase facts is that along with Google Ventures, Coinbase Ventures backed more companies than any other in Q2 2022. Even though both companies reduced investing compared to Q1, they remained the world’s most active CVCs. That means Coinbase invests its money further in the development of innovative products.
(CBInsights)
As of August 2022, Coinbase has a net worth of $19.84 billion.
The company’s net worth is currently approaching $20 billion, although it has shown a dramatic drop since March 2022, with some signs of recovery.
(Macrotrends)
Coinbase User Statistics
Coinbase has a stunning 103 million verified users in 2022.
The number of verified Coinbase users in 2022 almost doubled compared to the same quarter of 2021 when the number equaled 56 million. 2021 showed a strong growth tendency when it comes to verified users, from 43 million in Q1 to 89 million in Q4, and the tendency toward Coinbase user growth continued in 2022.
(Statista, Coinbase)
Coinbase had 9 million monthly transacting users in Q2 2022.
Coinbase stats show this is down from 9.2 million monthly transacting users in Q4 of 2021, but still up by 200 thousand year-on-year. While the global situation affected the crypto world as well, forcing numerous companies to downsize, it’s important to provide any negative numbers in context. So here is the big picture: there are now six times more Coinbase active users compared to 2020 (1.5 million MTU).
(Coinbase)
51.62% of Coinbase’s traffic in August 2022 came from the US.
If we look at the distribution of Coinbase users by country, we can see that the vast majority of users come from the US. The rest come mainly from the UK (6.15%), Germany (2.88%), Spain (2.72%), and France (2.38%).
(SimilarWeb)
Coinbase demographics show that 75% of its users are male.
As with other crypto exchanges, most of the audience is male, with only a quarter of visitors being women. Most of the visitors are also young, between 25 and 34 years old. The surrounding age brackets also show the largest percentage of visitors.
(SimilarWeb)
Coinbase has over 14,500 institutional clients.
Although most of Coinbase’s users are retail users, 14,500 of them are institutions, such as banks, hedge funds, and companies. These clients will also be able to use the world’s largest asset manager's platform, as Coinbase Prime partnered with BlackRock to improve its institutional service.
(Coinbase)
Coinbase Stats on Revenue, Profits, Market
Coinbase brought in $803 million in revenue in Q2 2022.
Compared to the same quarter of 2021, Coinbase revenue took a significant plunge, as Q2 2021 brought in more than $2 billion. The downturn can be attributed primarily to the downturn in the crypto market.
However, another issue that affects the company is an ongoing SEC investigation against the company’s former employee. He was accused of fraud by letting people close to him know which assets will be listed and what to purchase. This led to the SEC raising questions about some of the crypto assets on the platform in an attempt to instate new regulations.
(Coinbase)
Coinbase’s net income in Q2 2022 is a $1.1 billion loss.
As the global market has been showing a lot of volatility in the past two years, it has been felt in crypto as well. So in Q2 2022, Coinbase had no profits. Coinbase is one of the exchanges that were hit the hardest, as its primary audience is regular people who have had to become more risk averse and reduce their crypto investing activities. However, this doesn't mean the interest in crypto is waning. As the number of Coinbase users has been growing, it is a matter of time and general economic stability when the crypto market will bounce back.
(Coinbase)
In Q2, 67% of Coinbase active users focused on non-investing products.
Six out of nine million users in Q2 2022 refrained from trading and focused more on non-investment activities on Coinbase, such as staking. This is the more secure choice given the current economic state, and Coinbase core users are making the choice to play it safe instead of risking their investments.
(Block)
Coinbase makes the bulk of its revenue from transaction fees, with fees bringing $655.2 million in Q2 2022.
Total Coinbase revenue in Q2 2022 amounted to $803 million while the distribution of revenue streams remained similar to previous quarters. Transactions were the top stream as usual, while Coinbase saw revenue of $147 million from subscriptions and services. Analyst predictions were higher for this quarter, with $715 million for transactions and $139 million for subscriptions and services.
(Block)
Coinbase assets equaled $96 billion in Q2 2022.
Coinbase statistics point to a considerable loss compared to the previous quarter when the company had $256 billion in assets. The majority of the issue lies in lower crypto prices that affected the exchange along with the rest of the market, which prompted institutional clients to sell crypto for fiat currencies. The rest of 2022 continued in this manner. Still, Coinbase emphasizes that the current downturn in the market is a part of a regular cycle and there is no reason for concern, illustrating this statement with the fact that 77% of BTC owners are holding their coin, waiting for the storm to pass.
(Block)
Bitcoin makes up 44% of all assets on the Coinbase platform.
Bitcoin is followed by Ethereum which constitutes 20% of all assets on the platform. These stats show that these two largest cryptocurrencies are the most popular coins on the platform, while fiat currencies make up another 7% and all other coins account for 29% of assets.
(Coinbase)
Coinbase volume traded in Q2 2022 amounted to $217 billion.
The $217 billion in volume is a considerable drop compared to the $309 billion Coinbase had in the first quarter. Coinbase’s trading volume is a particularly valuable metric when we look at its retail to institutional users share since retail users are the core of Coinbase’s business. Retail users contributed only $46 billion to the total volume, a major decline compared to the first quarter’s $74 billion.
(Coinbase)
Bitcoin made up 31% of total trading volume on Coinbase.
This is the highest percentage of Coinbase’s volume that Bitcoin’s had in the last 12 months. The share for Ethereum hasn’t changed significantly. However, the participation of other crypto assets in the total trading volume on the platform dropped to 47%, which is their lowest share of the total volume in the last year. So if we look at the trading volume share of all coins on the platform, people are mostly buying Bitcoins from Coinbase, as statistics show.
(Coinbase)
Coinbase had a market share of 6.7% in July 2022.
Coinbase lost a part of its market share this year, measured compared to the spot trading volume of the top 15 exchanges. With these numbers in focus, Coinbase’s market share fell from 10.7% in January 2022 to 6.7% in July.
(Bloomberg)
Since the beginning of 2022, Coinbase has seen a 57.2% decrease in spot trading volume.
The company suffered greater losses than its main competitor Binance, which dropped by 12.9%, standing firmly at the top of the world’s crypto exchange market with a share of 54% in July. More competition also came from FTX before it collapsed, as the exchange had added equities trading into its offer to soften the blow of the market.
However, Coinbase is not going down so easily, as it partnered with BlackRock, the largest asset manager in the world. This will enable Coinbase Prime users access to BlackRock’s platform Aladdin built specifically for institutional users.
(Block)
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Conclusion
Despite what the public calls the crypto winter, Coinbase remains the largest, most trusted cryptocurrency exchange in the US. It suffered significant losses in 2022, however, it’s still investing in innovation within its own company and as a CVC. Finally, Coinbase is an indicator of the state of the crypto market in the US, showing its expansion into the business world and growing mainstream acceptance, in spite of the market downturn.
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