Coinbase

Coinbase raised money in 2018 at an $8b valuation. It's currently trading at a $9b valuation. Meanwhile:

2018 Revenues: $520m

2022 Revenues: $3.3b

2018 Users: 22m

2022 Users: 101m

2018 Assets on Platform: $11b

2022 Assets on Platform: $101b

2019 GAAP Net Loss: $30 Million

2022 GAAP Net Loss YTD*: $2.1 Billion

* Through 9/30/2022

COIN has $1.3b in net cash and has burned $4.8b in the past 3 quarters combined.