Coinbase reveals $1.2 billion revenue in plans to go public

Coinbase reveals $1.2 billion revenue in plans to go public


Illustration by Alex Castro / The Verge

Coinbase has publicly filed paperwork to list its stock on the NASDAQ exchange, a huge step forward in the first major public offering for a cryptocurrency company. Coinbase’s S-1 was published on Thursday morning, after being confidentially submitted to the SEC in December.

In an attached letter to investors, founder Brian Armstrong presented cryptocurrency as an equalizing force in financial markets — and Coinbase as the company at the forefront of that change.

“The current financial system is rife with high fees, unequal access, and barriers to innovation,” the letter reads. “If the world economy ran on a common set of standards…

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