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  • Writer's pictureMagdalena Gołębiewska

Coinbase hit $520 mln. in global revenue in 2018

  • $520 million in global revenue in 2018, according to an estimate from Reuters.

  • Coinbase U.K. made a net profit of 6.6 million euros ($7.4 million) last year.

Seems that crypt companies make money! That is why Venture capital firms are investing millions of dollars into the crypto and blockchain space, even if still wary of direct involvement with cryptocurrency. How much exactly?

  • Around $850 million has been invested in the industry so far this year (2019), according to research carried out by PitchBook for Reuters.

  • Last year (2018), 117 investments saw VC involvement in the space increase by five times to a record-breaking $2.4 billion.

And who is investing? For example:

  • London Stock Exchange Group led a $20 million funding round for capital markets blockchain startup Nivaura earlier this year.

  • Microsoft VC fund M12 and Boston Consulting Group, which backed a $182.5 million round for digital assets platform Bakkt – owned by Intercontinental Exchange, the parent company of the New York Stock Exchange.

The VC enthusiasm may be dying down slightly, however. Why? Well - compare to last year:

Deals are averaging around $6.5 million in 2019, less than the $8 million seen last year, the report indicated.

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