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A comment on Coinbase Announces Listing Date of Its Stock on the Nasdaq. Parent comment

Re:Coinbase Announces Listing Date of Its Stock on the Nasdaq by rawtxapp on Thursday April 01, 2021 @05:18PM (#26666157)
> But I have no idea if people use that feature frequently.

Looks like they made 4.57B$ in revenue with 97M$ in profit [1]. And "We’ve continued to see strong adoption, with 3 million customers [buying bitcoin] through the past year, and in January we saw 1 million new to bitcoin in just one month."

1: https://www.coindesk.com/square-cash-app-bitcoin-revenues-sw...

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Re:Coinbase Announces Listing Date of Its Stock on the Nasdaq by tedunangst on Thursday April 01, 2021 @05:51PM (#26666575)
It's a bit odd to count that as revenue. Like Robinhood counting their entire trade volume of $350 billion as "revenue".
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Re:Coinbase Announces Listing Date of Its Stock on the Nasdaq by rodonn on Thursday April 01, 2021 @06:02PM (#26666726)
Unfortunately under US accounting rules you have to do it this way in your financial filings.
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Re:Coinbase Announces Listing Date of Its Stock on the Nasdaq by woobar on Thursday April 01, 2021 @06:41PM (#26667166)
But bigger brokers (in fact, much more than just brokers) like Merrill ($18B) or Schwab($10B) do not report their transaction volume as revenue.
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Re:Coinbase Announces Listing Date of Its Stock on the Nasdaq by wfleming on Thursday April 01, 2021 @07:44PM (#26667659)
I'm having trouble finding a good citation, but I think the GP is referring to a quirk of US accounting rules that causes crypto trades specifically to be counted as revenue. The same does not apply to traditional financial market trades, which I think is what your numbers are.
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Re:Coinbase Announces Listing Date of Its Stock on the Nasdaq by woobar on Thursday April 01, 2021 @08:57PM (#26668130)
But we are talking about Robinhood here. I doubt they trade $350B worth of crypto.
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Re:Coinbase Announces Listing Date of Its Stock on the Nasdaq by skybrian on Thursday April 01, 2021 @07:51PM (#26667717)
Weirdly, it seems there are no GAAP accounting rules for cryptocurrencies yet. Apparently there is informal guidance that it should be treated as an intangible asset:

https://news.bloombergtax.com/financial-accounting/tesla-bit...

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