San Francisco-based cryptocurrency giant Coinbase reportedly has around 7 million accounts that are funded with either fiat or cryptocurrency.
According to a recent post by Ran NeuNer, host of CNBC’s Crypto Trader, Coinbase currently has 25 million accounts, but only roughly 28% of them are funded. Additionally, of those 7 million funded accounts, there are around 600,000 actively trading.
CNBC Cryptotrader exposes details of the Coinbase IPO raise tomorrow on a Cryptotrader exclusive. pic.twitter.com/YG4UOP3ju8
— Ran NeuNer (@cryptomanran) October 25, 2018
While the original source is currently unknown, and the data unconfirmed, the information does shed an interesting light on the current internal health of the company now valued at $8 billion.
We previously reported that Coinbase has suffered a significant drop in trading volume in 2018 due to the ongoing crypto bear market, and the latest data confirms that the drop resulted in a significant fall in quarterly revenue.
In the Q4 2017, when the crypto bull market was taking off, Coinbase turned in revenues of $450 million. According to NeuNer, this valued dropped to $90 million in Q3 2018 with an unknown profitability. Coinbase currently services 80% consumer investors and 15% professional and institutional investors through its Coinbase Pro platform.
NeuNer refers to a possible IPO in his post, but the legitimacy of his claim is currently unconfirmed and Coinbase did not immediately respond to our request for comment. The most recent reports have Coinbase is in talks to close a $500 million funding round at the previously self-assigned valuation of $8 billion.
More: Ran NeuNer’s Tweet
Photo: Marco Verch / Flickr
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.