美國加密交易所

在過去的十年中，比特幣和以太坊等數字資產一直是迄今為止表現最佳的金融資產

Over the past decade, digital assets like Bitcoin and Ethereum have been by far the best-performing financial assets. Their adoption by an increasingly large segment of the public and financial institutions was built on cryptocurrency exchange platforms, working as central nodes for buying and selling crypto.

在過去的十年中，諸如比特幣和以太坊之類的數字資產一直是迄今為止表現最佳的金融資產。它們通過越來越多的公共和金融機構的採用是建立在加密貨幣交換平台上的，它是購買和銷售加密貨幣的中心節點。

Among these exchanges, the largest based in the US is Coinbase (NASDAQ:COIN), an early mover in this segment, founded in 2012. The company has been publicly traded since 2021.

在這些交易所中，總部位於美國的最大的是Coinbase（NASDAQ：COIN），這是該部門的早期推動者，成立於2012年。該公司自2021年以來一直在公開交易。

As crypto becomes mainstream, the acceptance by regulatory authorities is changing as well. Most notably, the Trump administration announced the creation of a Bitcoin strategic reserve, which will hold other crypto as well.

隨著加密貨幣成為主流，監管機構的接受也正在改變。最值得注意的是，特朗普政府宣布創建比特幣戰略儲備，這也將擁有其他加密貨幣。

This could be positive for Coinbase, as it also looks to revive an effort for tokenized securities in the US market.

這對Coinbase可能是積極的，因為它也希望為美國市場的標記證券做出努力。

Coinbase Global, Inc. (COIN) - Get Coinbase Global, Inc. full stock quote

Coinbase Global，Inc。（硬幣） - 獲取Coinbase Global，Inc。全股名報價

Coinbase Overview

Coinbase概述

Coinbase By Numbers

按數字進行共同插件

Coinbase is a cornerstone of the crypto ecosystem: a total of 245,000 ecosystem partners interact regularly with Coinbase, with $439B in quarterly trading volume, and $404B in assets on the platform.

Coinbase是加密生態系統的基石：總共245,000個生態系統合作夥伴與Coinbase定期互動，季度交易量為439B美元，平台上的資產為404B美元。

It is present in 100+ countries and employs 3,700+ people.

它存在於100多個國家 /地區，並僱用了3,700多人。

In 2025, Coinbase had 8 million active accounts and was the world's largest custodian of Bitcoins, holding 2.4 million BTC. This represents no less than 12% of the entire supply of Bitcoin.

2025年，Coinbase擁有800萬個活躍帳戶，是世界上最大的比特幣保管人，擁有240萬BTC。這不少於比特幣供應的12％。

You can read more from us about the pros and cons of Coinbase as a crypto exchange in "Coinbase Review – Is it Really the Best Platform? (March 2025)."

您可以從我們那裡閱讀更多有關Coinbase的優缺點，作為“ Coinbase評論 - 確實是最好的平台？（2025年3月）”。

Coinbase History

共同歷史

Coinbase was founded by ex-Deloitte consulting and ex-Airbnb engineer Brian Armstrong, a graduate of the William Marsh Rice University in Texas, with degrees in economics and computer science. He is still today the company's CEO.

Coinbase由前Deloitte Consulting和前Airbnb工程師Brian Armstrong（得克薩斯州的William Marsh Rice University的畢業生）創立，擁有經濟學和計算機科學學士學位。今天他仍然是公司的首席執行官。

He founded Coinbase in part after seeing firsthand the difficulties of sending international payments when working at Airbnb. In the whitepaper for Bitcoin by Satoshi Nakamoto, he looked to develop a way to buy and store cryptocurrency as a side project.

他親眼目睹了在Airbnb工作時寄出國際付款的困難後，部分創立了Coinbase。在Nakamoto的Satoshi Bitcoin的白皮書中，他希望開發一種購買和存儲加密貨幣作為附帶項目的方法。

A year later, an ex-Goldman Sachs trader, Fred Ehrsam, also joined the company as a co-founder. Ehrsam would later also create the venture investment firm Paradigm, which specializes in cryptocurrencies and blockchain technology.

一年後，前金牌人薩克斯商人弗雷德·埃爾薩姆（Fred Ehrsam）也以聯合創始人的身份加入了公司。 EHRSAM後來還將創建風險投資公司範式，該公司專門從事加密貨幣和區塊鏈技術。

By 2014, Coinbase had already grown to 1 million users and was starting to help companies like Dell Technologies Inc (NYSE:DELL) - Get Free Report, Expedia Group Inc (NASDAQ:EXPE) - Get Free Report, or Time Inc. to accept Bitcoin payments.

到2014年，Coinbase已經增長到100萬用戶，並開始幫助Dell Technologies Inc（NYSE：DELL）等公司 - 獲得免費報告，Expedia Group Inc（NASDAQ：EXPE） - 獲得免費報告或Time Inc.接受比特幣支付。

Coinbase started its international expansion in 2015, in Canada and Singapore. By 2017, Coinbase was the first unicorn ($1B+ valuation) company in the crypto space.

Coinbase於2015年在加拿大和新加坡開始了國際擴張。到2017年，Coinbase是加密貨幣領域的第一家獨角獸（$ 1B+估值）的公司。

In 2018, it started to offer 'Prime' – platform dedicated to institutional customers as interest in Bitcoin among financial institutions grew.

在2018年，它開始提供“ Prime” - 專門針對機構客戶的平台，因為金融機構中對比特幣的興趣。

In 2021, Coinbase started to trade on the Nasdaq through a direct stock listing (DPO)

2021年，Coinbase開始通過直接庫存上市（DPO）在納斯達克交易

Coinbase Mission & Business

共同任務和業務

Coinbase sees itself as "on a mission to increase economic freedom for more than 1 billion people".

Coinbase認為自己是“為了增加超過10億人的經濟自由的使命。”

"We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, stacking, safekeeping, spending, and fast, free global transfers."

“我們通過提供一個值得信賴的平台來更新百年曆史的金融體系，該平台使人們和機構很容易與加密資產互動，包括交易，堆疊，保管，支出，支出以及快速，免費的全球轉移。”

Besides Coinbase, the main app and crypto exchange, the company has a series of complementary offerings:

除了Coinbase，主要應用程序和加密交易所外，該公司還提供一系列補充產品：

Coinbase is a key partner for many Bitcoin ETFs for which it holds custody of the Bitcoins, making it an important actor in the industry for these products, making ETF ownership easier for individual and institutional investors.

Coinbase是許多比特幣ETF的關鍵合作夥伴，它遵守比特幣的監護權，使其成為這些產品行業中重要的演員，使個人和機構投資者更容易擁有ETF的所有權。

Coinbase has no physical headquarters and works as a 'remote only' company.

Coinbase沒有物理總部，並且是一家“偏遠”公司。

Coinbase Global, Inc. (COIN) price

Coinbase Global，Inc。（硬幣）價格

Coinbase Financials

Coinbase generated $6.6B in revenue in 2024, with a net income of $2.6B and $3.3B in EBITDA. This was linked to a record-breaking Q4 2024, with $1.3B in net income.

Coinbase在2024年的收入為6.6B $，淨收入為2.6B美元，EBITDA的收入為3.3b美元。這與創紀錄的第四季度2024相關，淨收入為$ 1.3B。

In large part, Coinbase's (NASDAQ:COIN) net income can be attributed to the $2.3B of subscription and service revenues.

在很大程度上，Coinbase（NASDAQ：COIN）淨收入可以歸因於$ 2.3B的訂閱和服務收入。

As such, Coinbase is best understood as a company similar to a stock exchange, making money from providing services to traders and investors, more than a 'Bitcoin company' whose profit would depend on the value of the asset itself. Of course, it is clear that like stock exchanges, periods of intense trading activity and speculation in a given sector tend to benefit exchanges like Coinbase.

因此，最好將Coinbase理解為類似於證券交易所的公司，從向貿易商和投資者提供服務，而不僅僅是一家“比特幣公司”，其利潤取決於資產本身的價值。當然，很明顯，像證券交易所，特定部門的激烈交易活動期間和投機期往往會受益於Coinbase這樣的交流。

Coinbase USDC

In September 2018, Circle, together with Coinbase

2018年9月，Circle與Coinbase一起