Coinbase Statistics 2026: AUM, Users, Revenue, & More

With a strong security and regulatory compliance track record, Coinbase has established itself as a trustworthy platform for individuals and institutions to buy, sell, and store various cryptocurrencies.

In this article, we’ll examine some key statistics, such as their Revenue, Net Income, Assets on the Platform, user base growth, and other metrics, to see how successful they have been in this challenging time for crypto.

Overview

Coinbase is a Fiat on-ramp between the traditional finance world and the crypto-verse.

Here are some key corporate facts about Coinbase:

• Founded in: 2012
• Headquarters: Berry St, San Francisco
• IPO date: 14 April 2021
• Listed Exchange: NASDAQ
• All-time high share price: $343 (December 2024)
• Sector: Finance (Consumer Services)
• Industry: Cryptocurrency
• Ticker: COIN
• Founders: Brian Armstrong and Fred Ehrsam
• Number of employees: 7,200+ (Source: LinkedIn)

Although the Securities and Exchange Commission (SEC) in the United States is starting to come down hard on cryptocurrency exchanges, Coinbase is one of the better-placed businesses to deal with regulatory uncertainty and could be an opportunity to grow its market share.

What Services does Coinbase Provide?

To get a better idea of Coinbase’s business model, let’s first look at a list of services they offer:

• Exchange services allowing you to buy/sell crypto assets
• Advanced trading
• Staking
• NFTs
• Self-Custody Wallets
• Institutional and business accounts
• E-commerce business payments
• Prepaid Cards

At the time of writing, you can trade over 200 different crypto assets on Coinbase’s platform, including Bitcoin, Ethereum, Cardano, Solana, and Polkadot.

Ranking of Coinbase vs its Competitors

Below is a comparison of the typical 24-hour trading volume of Coinbase versus some of its competitors. Binance remains the biggest player in the market by far.

Coinbase Assets on Platform (AUM)

As of Q3 2025, Coinbase reported that the total value of assets on its platform reached $516 billion, marking a substantial increase from the $114 billion reported in Q3 2023.

This growth reflects a strong resurgence in the cryptocurrency market, driven by higher prices of major assets such as Bitcoin and Ethereum, as well as renewed institutional participation.

The $516 billion figure represents total assets on platform, encompassing customer crypto assets held in custody for retail users, institutional clients, and assets linked to ETF and other institutional products.

Coinbase’s Q3 2025 financial results, including this data, were published in its Q3 2025 shareholder letter released in November 2025.

Yearly Assets on Platform

Quarterly Assets on Platform (AUM)

Coinbase Key Financials

When Coinbase went public in April 2021, it experienced a nearly sixfold increase in net revenue from 2020 to 2021, driven by a sharp rise in cryptocurrency prices and trading activity. However, after the peak of the crypto bull market, the industry faced severe headwinds, including major collapses such as FTX, Celsius, Voyager, and Terra Luna. These events, combined with falling crypto prices, led to a pronounced contraction in Coinbase’s net revenue in the subsequent periods.

As of Q3 2025, Coinbase reported total revenue of $3.67 billion, significantly exceeding year-earlier levels and reflecting the recovery of crypto market activity. Transaction revenue rebounded strongly, supported by higher trading volumes and improved market sentiment, while subscription and services revenue continued to grow, benefiting from stablecoin interest income, custody services, and institutional products.

The company reported net income of $1.13 billion for the quarter, a sharp improvement from the same period a year earlier. Adjusted net income also increased materially, reflecting operating leverage from higher revenues and improved cost efficiency during the market recovery.

Coinbase continues to emphasize the inherent volatility of its revenue streams, stating in its Q3 2025 shareholder letter:

“Our total revenue is substantially dependent on the prices of crypto assets and the volume of transactions conducted on our platform. If such price or volume declines, our business, operating results, and financial condition would be adversely affected.”

This highlights the company’s continued exposure to crypto market cycles and reinforces the strategic importance of expanding recurring and non-transaction-based revenue streams.

Net revenue consists of income generated from customer transaction fees and subscription and services revenue, including blockchain rewards, custodial fees, stablecoin interest income, and other platform-related services.

Below is a breakdown of the yearly net revenue figures over the past number of years.

Yearly Revenues

Below you will see the quarterly revenue figures for Coinbase. Quarterly revenue bottomed out in Q3 of 2022 and has since increased modestly along with the wider crypto market.

Quarterly Revenues

Until recently, Coinbase regularly reported the average revenue it generated per user per month, with the metric peaking at $81.67 in Q1 2025, which remains the latest disclosed high point.

See below a summary of the average revenue per user (per month) from 2017 to Q3 2025, based on the periods for which Coinbase publicly reported this metric.

Revenue Per User (Per Month)

In Q1 2025, Coinbase reported a net income of $66 million, a significant decrease from the $1.18 billion reported in the same quarter the previous year. This decline was primarily due to a $597 million pre-tax loss on its crypto asset investment portfolio, most of which were unrealized losses. Despite this, the company’s adjusted net income stood at $527 million, with an adjusted EBITDA of $930 million, indicating strong underlying operational performance.

In the following sections, you can see a summary of Coinbase yearly and quarterly reported net income.

Yearly Net Income/(Loss)

Quarterly Net Income/(Loss)

Coinbase User Statistics

For investing purposes, one of the most vital metrics to keep an eye on is the growth in the user base at Coinbase. It is also important to know the difference between a verified user and an MTU (Monthly Transacting User).

A verified user is a retail or institutional investor who has successfully set up a Coinbase account. However, this does not mean that Coinbase is generating revenue from this type of customer. The more reliable metric to keep a close eye on is the MTUs (Monthly Transacting Users).

In the following tables, you will find data from Coinbase on its Verified users and MTUs over the past number of years.

Verified Users

Monthly Transacting Users (MTUs)

Interestingly, since its peak, the monthly transacting users at Coinbase have only fallen 27% to 8.0 million. Compared to net revenue, which fell 34% from its quarterly peak in Q4 2021 vs the latest Q1 2025 earnings. This shows the potential for the net revenue to rebound quickly at Coinbase if the crypto market goes back into a bullish period.

Quarterly Trading Volume split by Retail vs Institutional Investor

Institutional investors have become critical to the success of Coinbase over the past number of years, now accounting for 83% of the trading volume. You can check out the split between retail and institutional trading volume from Q1 2020 to Q1 2025 in the following table.

Quarterly Trading Volume split by cryptocurrency

The change in investing trends in cryptocurrency can be seen clearly when you look at the split of Coinbase’s quarterly trading volume.

As of Q3 2025, Bitcoin accounts for 24% of Coinbase’s trading volume, while Ethereum represents 22% and other altcoins account for the remaining 54%.

Compared with earlier periods, Bitcoin’s share declined during the quarter as trading activity broadened across Ethereum and a wider range of altcoins, reflecting increased diversification by both retail and institutional investors amid renewed market activity.

Conclusion

In summary, Coinbase has continued to position itself as a regulated and transparent platform, standing apart from the more opaque operations seen across much of the crypto industry.

Although the company saw strong early momentum, the fallout from industry-wide scandals and failures has slowed its revenue and user base expansion in recent quarters.

If digital assets are to gain broader trust, Coinbase is likely to remain a central player in shaping that evolution.

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