(Coinbase) Coinbase Global Inc. reported a net income of $1.6 billion in the second quarter, a jump from $32 million in the same quarter of 2020.
The company, which operates a cryptocurrency trading platform, reported an increase in the second quarter trading volumes to $462 billion, from $ 28 billion in the same period last year.
Coinbase announced a total transaction revenue of $1.9 billion in the second quarter, an increase from $171.9 million in the second quarter of 2020.
Ethereum had the highest traded volume in the second quarter at 26%; bitcoin had 24%, while the other currencies shared the remaining half.
The company’s net revenue increased to $2.2 billion in the second quarter, from $186 million in the same period last year.
Coinbase unveiled the expected 2021 annual average Monthly Transaction Users possible scenarios as 8.0 million high, 7.0 million mid, and 5.5 million on the low.
The company does not expect to issue any dividend or return capital to shareholders in the short term.
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