Coinbase Global provides Q1 prelim estimates ahead of listing

Coinbase Global (COIN) comes out with preliminary estimates for its Q1 2021 with guidance to see the growth continue throughout driven by the transaction and custody revenue on increasing institutional interest in the cryptos.Q1 revenue to be ~$1.8B, with trading volume of $335B.Adj. EBITDA of ~$1.1BNet Income of ~$730 - $800M.Other key highlights: Verified Users, 56M; Monthly Transacting Users (MTUs), 6.1M; and Assets on Platform, $223B ($122B from institutions), representing 11.3% crypto asset market share. 2021 Outlook: Average MTUs to be in the range of 4-7M; one-time listing expense, $35M, and technology and development expenses to be between $1.3B - $1.6B.Coinbase expects its class A common stock to start trading on the Nasdaq Global Select Market as of April 14.Now Read: Square, Fidelity, Coinbase start cryptocurrency lobbying group