- Business is booming at cryptocurrency exchange Coinbase (COINB), where revenue crossed over $1B last year, according to Recode, which cites industry sources. As recently as September, the brokerage was expected to do only about $600M of business.
- The late-year surge likely means the company's valuation has more than doubled since a $100M funding round late last summer valued it at $1.6B.
- New investors are clamoring to get in, but Coinbase has warned its existing ownership base that trading of shares in the secondary market is prohibited. Frustrated VCs may have to wait until the IPO like the rest of us.