Coinbase now has Over $ 90B in Platform Assets

Coinbase saw spectacular growth in 2020 as bitcoin rallied to close out the year.

New numbers published on Coinbase’s “About” page on Friday show that the exchange now has over $ 90 billion in assets on a platform and over 43 million registered users. A snapshot of the Internet Archive as recently as last week shows $ 25 billion in assets on a platform although it is unclear when that data was collected.

The updated figures were collected as part of Coinbase’s 2020 year in question and are current as of December 31, 2020.

“In this report, we take you on a comprehensive tour of the crypto asset class, sharing our unique perspective on how and why these organizations engage with the market,” wrote Brian Foster of Coinbase Institutional in the report covering letter.

Coinbase’s asset surge is likely to be driven by people like MicroStrategy, Ruffer Investment and other organizations that have used the exchange’s main brokerage service to make big bitcoin purchases in recent months.

Assets under Coinbase Custody’s control accounted for “more than 50%” of the $ 90 billion total, the report says, adding that Coinbase achieved “single trades in excess of $ 1 billion for some of the organizations” largest in the world. ”

The Coinbase update comes ahead of an expected public list. Investment bank Goldman Sachs is said to be working with the company on its first appearance in Wall Street.