In August, Coinbase revealed that the company’s latest funding effort yielded $100 million – which brought its total valuation to $1 billion and made it the first so-called “unicorn” in its industry. Moreover, recent data from the Coinbase website indicates that the exchange’s volume has increased to $20 billion. According to that data, the company has reached another milestone as well: Coinbase now serves 10 million digital currency customers.
As interest in digital currency has grown by leaps and bounds in 2017, Coinbase has experienced a massive influx of new customers. Reports suggest that thousands of new digital currency users have joined each day, as Bitcoin prices have surged to unprecedented levels. However, that steady growth pales in comparison to the sudden burst of new user signups the company has seen over the last several weeks of August – a period in which roughly 800,000 new customers joined the exchange.
Meanwhile, Coinbase continues to work to improve its customer service, as part of its Q3 plan to enhance its operations and scale to accommodate those customers’ needs. Given the company's recent growth and the fact that the US Consumer Financial Protection Bureau reportedly experienced an increase in complaints about Coinbase and other crypto-related companies (CFPB) in 2017, the timing of that scaling effort couldn’t be better.