美国加密交易所

在过去的十年中，比特币和以太坊等数字资产一直是迄今为止表现最佳的金融资产

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.

在过去的十年中，诸如比特币和以太坊之类的数字资产一直是迄今为止表现最佳的金融资产。它们通过越来越多的公共和金融机构的采用是建立在加密货币交换平台上的，它是购买和销售加密货币的中心节点。

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.

在这些交易所中，总部位于美国的最大的是Coinbase（NASDAQ：COIN），这是该部门的早期推动者，成立于2012年。该公司自2021年以来一直在公开交易。

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.

随着加密货币成为主流，监管机构的接受也正在改变。最值得注意的是，特朗普政府宣布创建比特币战略储备，这也将拥有其他加密货币。

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

这对Coinbase可能是积极的，因为它也希望为美国市场的标记证券做出努力。

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

Coinbase Global，Inc。（硬币） - 获取Coinbase Global，Inc。全股名报价

Coinbase Overview

Coinbase概述

Coinbase By Numbers

按数字进行共同插件

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是加密生态系统的基石：总共245,000个生态系统合作伙伴与Coinbase定期互动，季度交易量为439B美元，平台上的资产为404B美元。

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

它存在于100多个国家 /地区，并雇用了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拥有800万个活跃帐户，是世界上最大的比特币保管人，拥有240万BTC。这不少于比特币供应的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)."

您可以从我们那里阅读更多有关Coinbase的优缺点，作为“ Coinbase评论 - 确实是最好的平台？（2025年3月）”。

Coinbase History

共同历史

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工程师Brian Armstrong（得克萨斯州的William Marsh Rice University的毕业生）创立，拥有经济学和计算机科学学士学位。今天他仍然是公司的首席执行官。

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.

他亲眼目睹了在Airbnb工作时寄出国际付款的困难后，部分创立了Coinbase。在Nakamoto的Satoshi Bitcoin的白皮书中，他希望开发一种购买和存储加密货币作为附带项目的方法。

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.

一年后，前金牌人萨克斯商人弗雷德·埃尔萨姆（Fred Ehrsam）也以联合创始人的身份加入了公司。 EHRSAM后来还将创建风险投资公司范式，该公司专门从事加密货币和区块链技术。

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已经增长到100万用户，并开始帮助Dell Technologies Inc（NYSE：DELL）等公司 - 获得免费报告，Expedia Group Inc（NASDAQ：EXPE） - 获得免费报告或Time Inc.接受比特币支付。

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于2015年在加拿大和新加坡开始了国际扩张。到2017年，Coinbase是加密货币领域的第一家独角兽（$ 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，它开始提供“ Prime” - 专门针对机构客户的平台，因为金融机构中对比特币的兴趣。

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

2021年，Coinbase开始通过直接库存上市（DPO）在纳斯达克交易

Coinbase Mission & Business

共同任务和业务

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

Coinbase认为自己是“为了增加超过10亿人的经济自由的使命。”

"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."

“我们通过提供一个值得信赖的平台来更新百年历史的金融体系，该平台使人们和机构很容易与加密资产互动，包括交易，堆叠，保管，支出，支出以及快速，免费的全球转移。”

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

除了Coinbase，主要应用程序和加密交易所外，该公司还提供一系列补充产品：

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是许多比特币ETF的关键合作伙伴，它遵守比特币的监护权，使其成为这些产品行业中重要的演员，使个人和机构投资者更容易拥有ETF的所有权。

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

Coinbase没有物理总部，并且是一家“偏远”公司。

Coinbase Global, Inc. (COIN) price

Coinbase Global，Inc。（硬币）价格

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年的收入为6.6B $，净收入为2.6B美元，EBITDA的收入为3.3b美元。这与创纪录的第四季度2024相关，净收入为$ 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）净收入可以归因于$ 2.3B的订阅和服务收入。

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，最好将Coinbase理解为类似于证券交易所的公司，从向贸易商和投资者提供服务，而不仅仅是一家“比特币公司”，其利润取决于资产本身的价值。当然，很明显，像证券交易所，特定部门的激烈交易活动期间和投机期往往会受益于Coinbase这样的交流。

Coinbase USDC

In September 2018, Circle, together with Coinbase

2018年9月，Circle与Coinbase一起