Full History Of Coinbase In Timeline From 2012

June 2012: Coinbase Founded by Brian Armstrong

In June 2012, Coinbase was founded by Brian Armstrong, who received a US$150,000 cash infusion from Y Combinator. Fred Ehrsam later joined as a co-founder.

October 2012: Coinbase Launches Bitcoin Buying/Selling Services

In October 2012, Coinbase launched services enabling users to buy and sell bitcoins through bank transfers.

2012: Coinbase Founded

In 2012, Coinbase was founded by Brian Armstrong and Fred Ehrsam.

May 2013: Coinbase Receives Series A Investment

In May 2013, Coinbase received a US$5 million Series A investment led by Fred Wilson from Union Square Ventures.

January 2014: Coinbase Global, Inc. Incorporated

In January 2014, Coinbase Global, Inc. was incorporated in Delaware as a holding company for Coinbase and its subsidiaries.

January 2015: Coinbase Receives Investment and Launches Coinbase Exchange

In January 2015, Coinbase received a US$75 million investment. Later in January, the company launched a U.S.-based bitcoin exchange for professional traders called Coinbase Exchange.

May 2016: Coinbase Exchange Rebranded as GDAX

In May 2016, Coinbase rebranded the Coinbase Exchange, changing the name to Global Digital Asset Exchange (GDAX).

March 2017: Coinbase Obtains License to Trade Ethereum and Litecoin

In March 2017, Coinbase obtained BitLicense and was licensed to trade in Ethereum and Litecoin from the New York State Department of Financial Services (DFS).

February 11, 2018: Potential Overcharges for Credit and Debit Purchases

Customers who purchased cryptocurrency on their exchange between January 22 and February 11, 2018, could have been affected when banks and card issuers changed the merchant category code (MCC) for cryptocurrency purchases earlier that month. This meant that cryptocurrency payments would now be processed as "cash advances", meaning that banks and credit card issuers could begin charging customers cash advance fees for cryptocurrency purchases.

February 16, 2018: Coinbase Admits Overcharging Customers

On February 16, 2018, Coinbase admitted that some customers were overcharged in error for credit and debit purchases of cryptocurrencies. At first, Visa blamed Coinbase, telling the Financial Times on February 16 that it had "not made any systems changes that would result in the duplicate transactions cardholders are reporting". However, the latest statement from Visa and Worldpay clarifies: "This issue was not caused by Coinbase".

February 23, 2018: Coinbase to Provide Customer Data to IRS

On February 23, 2018, Coinbase announced it would provide taxpayer IDs, names, birth dates, addresses, and transaction records from 2013 to 2015 to the IRS for approximately 13,000 affected customers.

March 2018: Customer Complaints Against Coinbase Jump

In March 2018, the Quartz news Web site reported that the number of monthly customer complaints against Coinbase jumped more than 100 percent in January of that year, to 889, citing official Consumer Financial Protection Bureau data, with more than 400 of those categorized as "money was not available when promised".

March 26, 2018: Coinbase Announces Support for Ethereum ERC-20 Tokens

On March 26, 2018, Coinbase announced their intention to add support for Ethereum ERC-20 tokens.

April 5, 2018: Coinbase Forms Coinbase Ventures

On April 5, 2018, Coinbase announced the formation of Coinbase Ventures, an early-stage venture fund focused on blockchain and cryptocurrency-related companies.

2018: Coinbase Received an "F" Rating from the Bureau Due to Poor Customer Service

From 2018 to 2023, the company received an "F" rating from the bureau due to poor customer service. Common customer complaints included being locked out of their accounts despite providing the required information for reinstatement, as well as finding it "nearly impossible" to reach support when assistance was needed.

2018: Coinbase's Global Revenue Estimated at Around US$520 Million

In 2018 Reuters estimated that the company's global revenue totalled "around US$520 million".

2018: Gender Pay Gap at Coinbase

In 2018, The New York Times reported that women at Coinbase were paid an average of eight percent less than men in comparable jobs.

January 2019: Coinbase Stops Trading on Ethereum Classic

In January 2019, Coinbase stopped all trading on Ethereum Classic due to a suspected attack on the network.

April 2019: Coinbase's Non-U.S. Revenue Grows

In April 2019, a U.K. corporate filing stated that Coinbase's non-U.S. revenue grew 20 percent to €153 million (US$173 million) in 2018 resulting in a net profit of €6.6 million.

May 2019: Emilie Choi Promoted to President and COO

In May 2019, Emilie Choi, who was appointed Vice President of Corporate and Business Development in March 2018, was promoted to President and Chief Operating Officer.

2019: Coinbase Reports Net Loss

In 2019, Coinbase posted a net loss before reporting a net income of US$322 million in 2020. Out of the US$782 billion worth of assets on the crypto market, some US$90 billion worth were held on the Coinbase platform.

May 2020: Coinbase Shifts to Remote Work and Acquires Tagomi

In May 2020, Coinbase announced it was shifting to remote work due to the COVID-19 pandemic and acquired Tagomi, a digital asset trading firm.

October 2020: Coinbase's U.K. Branch Fined by British Regulator

In July 2024, Coinbase's U.K. branch was fined £3.5 million by the British regulator Financial Conduct Authority (FCA) after the former's breach of the voluntary agreement brokered between the two in October 2020. According to the voluntary agreement, Coinbase had agreed to not accept new users that the regulator considered high-risk.

2020: Coinbase Reports Net Revenue of US$1.14 Billion

In 2020, Coinbase reported net revenue of US$1.14 billion, up from US$483 million the previous year.

March 2021: Coinbase Agrees to Pay US$6.5 Million to Settle Regulatory Claims

In March 2021, Coinbase agreed to pay US$6.5 million to settle regulatory claims that it had reported misleading information about its trading volumes.

March 2021: Coinbase Under Review and Establishes Presence in India

In March 2021, Coinbase fell under review by the Office of Foreign Assets Control, and announced it was establishing a business presence in India.

April 14, 2021: Coinbase Goes Public

On April 14, 2021, Coinbase became a public company on the Nasdaq exchange via a direct stock listing, closing at US$328.28 per share on its first day of trading.

April 2021: Coinbase Reports Revenue Increase

In April 2021, Coinbase reported a nine-fold increase in first-quarter revenue, to US$1.8 billion, attributed to the increase in the price of bitcoin.

December 2021: Coinbase Freezes Cryptocurrency GYEN

In December 2021, CNBC reported that Coinbase froze the cryptocurrency GYEN due to a sudden price spike, resulting in many traders losing money.

2021: Coinbase Reports User and Institution Numbers

In 2021, as part of its SEC filing to go public, Coinbase reported 43 million verified users, 7,000 institutions, and 115,000 ecosystem partners in over 100 countries.

February 2022: Coinbase Commercial Airs During Super Bowl LVI

In February 2022, Coinbase's 60-second commercial aired during Super Bowl LVI.

April 2022: Coinbase Operations in India Face Challenges

In April 2022, Coinbase began operations in India but faced challenges with Unified Payments Interface (UPI), leading to suspension of most of its business there.

May 2022: Coinbase-Backed Mara Raises US$$23 Million

In May 2022, Mara, which is backed by Coinbase, successfully raised US$$23 million to develop an African crypto exchange.

May 2022: Coinbase States Crypto Assets Could Be Subject to Bankruptcy Proceedings

In a May 2022 Form 10-Q filing, Coinbase stated that "because custodially held crypto assets may be considered to be the property of a bankruptcy estate, in the event of a bankruptcy, the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings and such customers could be treated as our general unsecured creditors".

June 14, 2022: Coinbase Lays Off 18% of Workforce

On June 14, 2022, Coinbase announced that it would be laying off approximately 18% of its workforce, which is around 1,100 full-time jobs, due to the global downturn in cryptocurrencies and related services.

July 22, 2022: Former Coinbase product manager charged with insider trading

On July 22, 2022, Ishan Wahi, a former Coinbase product manager, his brother Nikhil Wahi, and their friend Sameer Ramani were charged with insider trading. Ishan Wahi allegedly shared confidential information about upcoming token listings with Nikhil Wahi and Ramani, who then used this information to make over $1.5 million in illicit profits.

August 2022: Coinbase Partners with BlackRock

In August 2022, Coinbase announced a partnership with BlackRock that would allow BlackRock clients to utilize their Aladdin investment management system to monitor their Bitcoin exposure along with other portfolio assets, and to facilitate trading on Coinbase's exchange.

October 2022: Coinbase Partners with Google Cloud Platform

In October 2022, Coinbase entered into a partnership with Google Cloud Platform to allow the latter's customers to pay for cloud services with cryptocurrencies supported by Coinbase Commerce. Coinbase also agreed to transfer its data-related applications from Amazon Web Services to Google Cloud.

January 10, 2023: Coinbase Announces Layoff of 950 Employees

On January 10, 2023, Coinbase announced it would be laying off around 950 employees and incurring restructuring expenses of up to US$163 million. Brian Armstrong cited the possibility of "further contagion" following the collapse of the FTX exchange, and said Coinbase would be "shutting down several projects where we have a lower probability of success".

January 2023: Coinbase Pays Penalty for Anti-Money Laundering Violations

In January 2023, Coinbase agreed to pay a US$50 million penalty to the New York State Department of Financial Services (NYDFS) over allegations that the cryptocurrency exchange broke anti-money laundering laws. That same month, the Dutch Central Bank (DNB) fined Coinbase €3.3 million for failing to obtain the correct registration in the Netherlands before offering services.

February 7, 2023: Ishan Wahi pleads guilty in insider trading case

On February 7, 2023, Ishan Wahi, who was initially not guilty, changed his plea to guilty regarding the charges of insider trading.

February 2023: Coinbase Launches Layer 2 Blockchain on Ethereum

In February 2023, Coinbase launched its own layer 2 blockchain on Ethereum, based on MIT-licensed OP Stack of layer-2 blockchain Optimism.

March 2023: Coinbase Receives Wells Notice from SEC

On 22 March 2023, Coinbase received a Wells notice from the U.S. Securities and Exchange Commission (SEC) signalling that the SEC intended to begin an enforcement action over Coinbase's staking products. Coinbase responded by calling the investigation "cursory", and stated that it would continue to operate as usual.

April 2023: Coinbase Bermuda Division Licensed to Operate

In April 2023, Coinbase announced that its Coinbase Bermuda division had been licensed to operate cryptocurrencies in Bermuda.

May 9, 2023: Ishan Wahi sentenced to two years in prison

On May 9, 2023, Ishan Wahi was sentenced to two years in prison and ordered to forfeit crypto assets related to the insider trading scheme.

June 2023: SEC Sues Coinbase

In June 2023, the SEC said it was suing Coinbase, alleging that the company had been acting as an unregistered broker, exchange and clearing agency since 2019, requesting that the company be "permanently restrained and enjoined" from doing so. The SEC also alleged that Coinbase never registered its staking service as required by U.S. securities laws.

July 2023: Coinbase Leases Office Space in Mountain View

In July 2023, Coinbase was reported to have leased 40,000 sq.ft. of office space in Mountain View, California. This decision followed the company's earlier closing of its San Francisco headquarters as part of its shift to becoming a remote-first and headquarterless company.

October 2023: Coinbase's U.K. Branch Fined by British Regulator

In July 2024, Coinbase's U.K. branch was fined £3.5 million by the British regulator Financial Conduct Authority (FCA) after the former's breach of the voluntary agreement brokered between the two in October 2020. According to the voluntary agreement, Coinbase had agreed to not accept new users that the regulator considered high-risk. Coinbase stated in response that it had unintentionally onboarded a number of customers between October 2020 and October 2023 who were classified as high-risk.

2023: Coinbase Doesn't Trade Some Cryptocurrencies

As of 2023, Coinbase does not trade Monero and other cryptocurrencies with enhanced anonymity protection due to "know your customer" (KYC) requirements in accordance with anti–money laundering regulations, even though it offers more than 250 different cryptocurrencies to U.S. customers.

2023: Coinbase Received an "F" Rating from the Bureau Due to Poor Customer Service

From 2018 to 2023, the company received an "F" rating from the bureau due to poor customer service. Common customer complaints included being locked out of their accounts despite providing the required information for reinstatement, as well as finding it "nearly impossible" to reach support when assistance was needed.

July 2024: Coinbase's U.K. Branch Fined by British Regulator

In July 2024, Coinbase's U.K. branch was fined £3.5 million by the British regulator Financial Conduct Authority (FCA) after the former's breach of the voluntary agreement brokered between the two in October 2020. According to the voluntary agreement, Coinbase had agreed to not accept new users that the regulator considered high-risk.

December 2024: Coinbase Adds Apple Pay Support to Onramp Platform

In December 2024, Coinbase added Apple Pay support to its Onramp platform (formerly known as Coinbase Pay), allowing users of third-party apps to fund their crypto purchases directly through Apple’s payment service. The supported cryptocurrencies included bitcoin, ether, Dogecoin and others present on the crypto exchange.

2024: Coinbase User and Asset Statistics

As of 2024, Coinbase has over 100 million users and is the largest U.S.-based cryptocurrency exchange, holding over $400 billion in assets.

2024: Coinbase Manages Digital Assets Worth US$404 Billion

In its 2024 annual report, Coinbase said it was managing digital assets worth US$404 billion on its platform.

February 2025: SEC Dismisses Lawsuit Against Coinbase

In February 2025, the SEC dismissed its lawsuit against Coinbase, putting an end to a legal battle between the two.

March 2025: Coinbase Claims Largest Node Operator Status on Ethereum

In March 2025, Coinbase said it was the largest node operator on the Ethereum network, controlling 11.42% of all staked Ether (ETH).

May 8, 2025: Coinbase Acquires Deribit

On May 8, 2025, Coinbase announced the acquisition of Deribit, a Dubai-based cryptocurrency derivatives exchange, for $700 million in cash and $2.2 billion worth of Coinbase stock. The acquisition is the largest of its kind in the cryptocurrency industry.

May 15, 2025: Coinbase Announces Expected Attack Cost

On May 15, 2025, Coinbase announced it expected the cyber attack disclosed earlier in May would cost the company up to $400 million. Wired reported that Coinbase would reimburse customers up to $400 million.

May 2025: Coinbase Discloses Extortion Attempt

In May 2025, Coinbase disclosed an extortion attempt where cybercriminals bribed rogue overseas support agents to steal customer data for social engineering attacks. The stolen data included personal and account information, but no passwords, private keys, or funds. Coinbase refused to pay the $20 million ransom that was asked and instead offered a $20 million reward for information leading to the attackers' conviction. The company said "less than 1 per cent" of its data was impacted.

May 2025: Coinbase Targeted by Cyber Attack

In May 2025, Coinbase disclosed that they had been targeted by a significant cyber attack that could cost the company between $180m and $400m, after hackers breached account data belonging to a “small subset” of its users. Coinbase said it received an email from an unknown threat actor on 11 May, claiming access to sensitive customer details and internal company documents. The company confirmed that the attackers accessed names, addresses, and emails, but did not obtain login credentials and passwords.

May 19, 2025: Coinbase Included in S&P 500 Index

Coinbase was included in the S&P 500 index on May 19, 2025.

2025: Coinbase Receives "A+" Rating by the Better Business Bureau

As of 2025, Coinbase has received an "A+" rating by the Better Business Bureau.

2025: Coinbase is the World's Largest Custodian of Bitcoin

As of 2025, Coinbase is the world's largest custodian of bitcoin, holding over 12% of all bitcoin in existence. It also holds over 11% of all staked Ether and other digital assets like solana.

2025: Coinbase Operates Largest U.S.-Based Cryptocurrency Exchange

As of 2025, Coinbase operates the largest U.S.-based cryptocurrency exchange with over 108 million customers. It offers products for retail and institutional cryptocurrency investors, as well as other users.

2025: Coinbase Establishes Physical Headquarters and Operations Hub

In 2025, Coinbase leased a large office space in San Francisco to serve as a physical headquarters and operations hub. The company also announced a large office opening in Charlotte, North Carolina to serve as its "Center of Excellence."