Express
JPMorgan: Coinbase Receives Approximately $300 Million in Distribution Fees from Circle in Q1
Summary: In a recent report, JPMorgan pointed out that the partnership between Coinbase and Circle, as well as the investment in Circle's stablecoin USDC, is yielding significant financial benefits, including equity appreciation and high-profit income streams. Coinbase currently holds around 8.5 million shares of Circle stock, and in just the first quarter of this year, Coinbase ...
In a recent report, JPMorgan pointed out that the partnership between Coinbase and Circle, as well as the investment in Circle's stablecoin USDC, is yielding significant financial benefits, including equity appreciation and high-profit income streams. Coinbase currently holds around 8.5 million shares of Circle stock, and in just the first quarter of this year, Coinbase received approximately $300 million in distribution fees from Circle, surpassing Circle's total net revenue of around $230 million. JPMorgan estimates that as of the end of the first quarter, the USDC balance on the Coinbase platform was $13 billion, generating $125 million in revenue for the company, with a profit margin of 20-25%.
Tags:
Link: JPMorgan: Coinbase Receives Approximately $300 Million in Distribution Fees from Circle in Q1 [Copy]
