Coinbase: Difference between revisions
Cryptowiki (talk | contribs) No edit summary |
Cryptowiki (talk | contribs) No edit summary |
||
| Line 80: | Line 80: | ||
Coinbase operates as a decentralized organization and does not maintain a traditional corporate headquarters. Following its transition to a [https://en.wikipedia.org/wiki/Remote_work remote-first] operating model, the company stated that it no longer maintains a headquarters in any single city. | Coinbase operates as a decentralized organization and does not maintain a traditional corporate headquarters. Following its transition to a [https://en.wikipedia.org/wiki/Remote_work remote-first] operating model, the company stated that it no longer maintains a headquarters in any single city. | ||
= History = | |||
=== 2012–2019: Origins and Initial Growth === | |||
Coinbase was founded in June 2012 by Brian Armstrong, a former Airbnb engineer, and Fred Ehrsam, a former Goldman Sachs trader. Armstrong participated in Y Combinator and received US$150,000 funding. British programmer Ben Reeves was initially involved but left | |||
due to differences over wallet operations. The company is named after Coinbase transactions, which introduce cryptocurrency into circulation. Coinbase launched its platform for buying and selling Bitcoin via bank transfers in October 2012. In 2015, the company expanded its offerings with the introduction of Coinbase Exchange. | |||
In May 2013, Coinbase secured a US$5 million Series A investment led by Fred Wilson of Union Square Ventures. Later, in December 2013, the company raised an additional US$25 million from Andreessen Horowitz, Union Square Ventures, and Ribbit Capital. | |||
In 2014, Coinbase reached one million users and expanded through acquisitions, including the blockchain explorer service Blocker and the web bookmarking company Kippt. The company secured insurance for bitcoin stored on its servers and launched the vault system for enhanced bitcoin storage security. During the same year, Coinbase partnered with Overstock, Dell, Expedia, Dish Network, and Time Inc. to facilitate bitcoin payments and integrated bitcoin payment processing with traditional payment platforms such as Stripe, Braintree, and PayPal. | |||
In April 2014, Coinbase underwent a corporate reorganization, with Coinbase, Inc. becoming a wholly-owned subsidiary of Coinbase Global, Inc. The principal assets of Coinbase Global, Inc. consist of equity interests in Coinbase, Inc. In addition to Coinbase, Inc., Coinbase Global, Inc. owns several subsidiaries, including CB Payments Ltd, a UK-based company providing fiat payment processing services to international customers, and Coinbase Custody Trust Company, LLC, a New York–chartered trust company authorized to hold crypto assets in trust for institutional clients. | |||
In January 2015, Coinbase secured a US$75 million investment led by Draper Fisher Jurvetson, the New York Stock Exchange, USAA, and several banking institutions. Later that month, the company launched Coinbase Exchange, a U.S.-based Bitcoin trading platform | |||
Revision as of 13:34, 19 December 2025
| Coinbase Global, Inc. | |
|---|---|
|
| |
| Company type | Public |
| Traded as | Nasdaq: COIN (Class A) S&P 500 component |
| ISIN | US19260Q1076 |
| Industry | Cryptocurrency |
| Founded | June 2012; in San Francisco, California, United States |
| Founders | Brian Armstrong |
| Headquarters | San Francisco |
| Area served | 100+ countries |
| Key people | Brian Armstrong (Chair, CEO) Emilie Choi (President, COO) |
| Products | Cryptocurrency exchange services |
| Revenue | Increase US$6.56 billion (2024) |
| Operating income | Increase US$2.31 billion (2024) |
| Net income | Increase US$2.58 billion (2024) |
| Total assets | Increase US$22.5 billion (2024) |
| Total equity | Increase US$10.3 billion (2024) |
| Owner | Brian Armstrong (19%) |
| Members | 108 million (2023) |
| Number of employees | 3,772 (2024) |
| Website | coinbase.com |
| Footnotes | [2][3] |
Coinbase Global, Inc. (commonly known as Coinbase) is a cryptocurrency exchange based in San Francisco, United States, North America. Founded in 2012, the company was established by Brian Armstrong, a former Airbnb engineer, and Fred Ehrsam, a former Goldman Sachs trader.
Coinbase initially operated as a Bitcoin wallet before expanding its services to become one of the world’s largest cryptocurrency exchanges by 2021. The platform supports trading in multiple digital currencies and provides services for both retail and institutional investors across global markets.
As of 2024, Coinbase reported more than 105 million registered users worldwide, including approximately 10.8 million monthly transacting users. The company’s valuation rose significantly alongside increases in Bitcoin prices, growing from approximately US$14.4 billion in 2023 to about US$55.4 billion in 2024.
By 2024, Coinbase had surpassed 100 million users and was recognized as the largest cryptocurrency exchange headquartered in the United States, as well as the world’s largest custodian of Bitcoin. The company operates in more than 100 countries and manages approximately US$516 billion in assets, including nearly 12 percent of all existing Bitcoin and around 11 percent of all staked Ether.
Coinbase operates as a decentralized organization and does not maintain a traditional corporate headquarters. Following its transition to a remote-first operating model, the company stated that it no longer maintains a headquarters in any single city.
History
2012–2019: Origins and Initial Growth
Coinbase was founded in June 2012 by Brian Armstrong, a former Airbnb engineer, and Fred Ehrsam, a former Goldman Sachs trader. Armstrong participated in Y Combinator and received US$150,000 funding. British programmer Ben Reeves was initially involved but left
due to differences over wallet operations. The company is named after Coinbase transactions, which introduce cryptocurrency into circulation. Coinbase launched its platform for buying and selling Bitcoin via bank transfers in October 2012. In 2015, the company expanded its offerings with the introduction of Coinbase Exchange.
In May 2013, Coinbase secured a US$5 million Series A investment led by Fred Wilson of Union Square Ventures. Later, in December 2013, the company raised an additional US$25 million from Andreessen Horowitz, Union Square Ventures, and Ribbit Capital.
In 2014, Coinbase reached one million users and expanded through acquisitions, including the blockchain explorer service Blocker and the web bookmarking company Kippt. The company secured insurance for bitcoin stored on its servers and launched the vault system for enhanced bitcoin storage security. During the same year, Coinbase partnered with Overstock, Dell, Expedia, Dish Network, and Time Inc. to facilitate bitcoin payments and integrated bitcoin payment processing with traditional payment platforms such as Stripe, Braintree, and PayPal.
In April 2014, Coinbase underwent a corporate reorganization, with Coinbase, Inc. becoming a wholly-owned subsidiary of Coinbase Global, Inc. The principal assets of Coinbase Global, Inc. consist of equity interests in Coinbase, Inc. In addition to Coinbase, Inc., Coinbase Global, Inc. owns several subsidiaries, including CB Payments Ltd, a UK-based company providing fiat payment processing services to international customers, and Coinbase Custody Trust Company, LLC, a New York–chartered trust company authorized to hold crypto assets in trust for institutional clients.
In January 2015, Coinbase secured a US$75 million investment led by Draper Fisher Jurvetson, the New York Stock Exchange, USAA, and several banking institutions. Later that month, the company launched Coinbase Exchange, a U.S.-based Bitcoin trading platform