Core Insights - Jeff Dorman, chief investment officer at Arca, criticized Coinbase CEO Brian Armstrong for his comments during the third-quarter earnings call, which he deemed as mocking the industry and undermining institutional trust in crypto [2][4]. Group 1: Incident Overview - Armstrong tracked prediction market bets regarding the keywords he would mention during the earnings call, including "Bitcoin," "Ethereum," "Blockchain," "Staking," and "Web3," which allowed some bettors to win [3][4]. - Over $84,000 was staked on whether these keywords would be mentioned during the call, leading to widespread debate on social media about the implications of Armstrong's actions [4][5]. Group 2: Industry Impact - Dorman emphasized that Armstrong's behavior damages the credibility of the crypto industry, particularly as firms like Arca strive to position crypto as a serious institutional asset class [2][5]. - The incident highlighted the potential for manipulation in lightly regulated "mention markets," raising concerns about market integrity when public figures reference outcomes knowingly [5][7]. Group 3: Company Response - Coinbase clarified that its employees are prohibited from participating in prediction markets involving the company, despite Armstrong's promotion of the firm's new "Everything Exchange," which may support prediction markets [6][7]. - Armstrong responded to the backlash by stating that the incident was spontaneous and intended to be lighthearted [6].

Protocol Performance - x402 协议交易量突破 300 万笔，交易额达 300 万美元，周增长率高达 200,000% [1] Facilitator Concentration - Coinbase 处理了 88% 的交易，占据主导地位 [1] Risk and Opportunity - Coinbase 在 x402 协议成功中占据主导地位，类似于“收费站”模式 [1] - Decentralized facilitators 将于 2026 年第一季度推出，值得关注 [1]

🚨 🚨 2,047,241 #LINK (35,180,871 USD) transferred from unknown wallet to #Coinbasehttps://t.co/3tv5165Hnd ...

Coinbase soars past Q3 targets while Bitcoin ETFs face turbulence—plus a new fund betting on crypto stock volatility for income.Read more: https://t.co/FilP4DANm7 ...

Core Insights - Coinbase reported Q3 revenue of approximately $1.9 billion, exceeding expectations, with transaction revenue reaching $1.0 billion, indicating a strong rebound in spot volumes [2][3] - BlackRock's iShares Bitcoin Trust (IBIT) experienced significant outflows, with $290.8 million withdrawn in one day, reflecting market volatility [5][6] - REX Shares launched a new ETF that capitalizes on volatility in equities, including crypto companies, positioning it as a feature rather than a drawback [7] Coinbase Performance - Q4 has started strong for Coinbase, with October transaction revenue already at $385 million [3] - The company has expanded its asset offerings from about 300 to over 40,000 assets in the U.S. through DEX integrations [4] - Coinbase's focus on increasing available assets and launching CFTC-regulated 24/7 perpetual futures has contributed to its revenue growth [4] BlackRock's IBIT - IBIT accounted for nearly half of the Bitcoin ETF category's outflows on a day when Bitcoin spot ETFs lost a total of $488.4 million [5] - Despite the outflows, IBIT has a cumulative net inflow of over $88 billion in assets under management, indicating strong long-term adoption [6] REX Shares Strategy - REX Shares is known for unconventional ETFs and its latest product treats volatility in equities, including those of crypto companies, as a beneficial feature [7]

Core Insights - Coinbase CEO Brian Armstrong acknowledged being "a little bit distracted" during the earnings call due to tracking prediction markets related to the company's statements [1] - Armstrong mentioned specific terms like Bitcoin, Ethereum, Blockchain, Staking, and Web3 to influence bets placed on these words being spoken during the call [2] Market Manipulation Concerns - A total of $84,000 was wagered on whether certain words would be mentioned during the earnings call, highlighting the potential for market manipulation by executives [3] - Jeff Dorman, CIO at Arca, criticized Armstrong's actions as detrimental to the credibility of the cryptocurrency industry [4] Company Activities and Reactions - Coinbase is expanding into prediction markets through its Everything Exchange and has invested in platforms like Kalshi and Polymarket [5] - A Coinbase spokesperson stated that the company prohibits employees from participating in prediction markets related to the company [5] - Following the controversy, Armstrong described the situation as spontaneous and lighthearted [6]

Cointelegraph Head of Markets Ray Salmond on the outlook for Coinbase and $COIN as more crypto exchanges prepare for IPOs in the US.Schwab Network (@SchwabNetwork):$COIN is in a strong position, says Ray Salmond. Retail interest is growing, but sustaining it is a concern. David Siemer believes $BTC and stablecoins have 'every possible tailwind,' though it may take time to fully develop. https://t.co/lh7dvP5bw4 ...

All right, Coinbase out with better than expected results. Let's get right to Coinbase CFO Alicia Hos. Alicia, always great to get some time with you here.Look, the numbers look good. Uh, really from the the top line to the earnings result. What was the biggest driver you think of the quarter.>> We had so many drivers, Brian. So, it was a strong quarter of execution, 1.9% billion of revenue, 800 million plus of adjusted EBA. But the ones I want to highlight for you are the following.We saw our subscription ...

Core Insights - Coinbase reported strong quarterly results with $1.9 billion in revenue and over $800 million in adjusted EBITDA, driven by various factors including subscription and services revenue reaching an all-time high of $748 million [1][2][24] - The assets on the platform surpassed $500 billion, with significant growth in USDC, staked assets, custody, and average loans [2][3] - Institutional trading revenues grew over 120% due to the acquisition of Darabit and the expansion of derivatives offerings [4][26] Revenue and Growth - Subscription and services revenue reached a new high, significantly contributing to overall revenue growth [2][24] - USDC on the platform exceeded $15 billion, contributing to the overall market cap growth of USDC to $74 billion [3][4] - The trading front saw outperformance in US spot trading, particularly among advanced traders utilizing new service offerings [4][25] Regulatory Environment - Regulatory clarity has been a significant tailwind for Coinbase, enhancing growth opportunities [6][16] - The Clarity Act is anticipated to be a key regulatory development that could unlock further growth in the tokenization of assets [16][29] Strategic Vision - Coinbase aims to evolve into an "everything exchange," focusing on integrating various asset classes and enhancing its payments platform [9][28] - The company is exploring the potential of a base token, which could represent a significant market opportunity [14][29] - Partnerships, such as with Citibank for USDC transactions, are expected to drive the growth of the payments ecosystem [12][13] Market Positioning - Coinbase is positioning itself as a comprehensive platform for both retail and institutional investors, focusing on building out infrastructure for derivatives and other financial services [27][36] - The company is investing in technology and partnerships to maintain its competitive edge in the rapidly evolving crypto landscape [30][32]

Here’s what happened in October @Coinbase:• Started collaborating with @Citi to build the future of payments.• Released our Q3 2025 financial results with $1.8B net revenue.• Acquired @echodotxyz to further our mission of growing economic freedom worldwide.• Expanded our commitment to India and the Middle East through a new investment in @CoinDCX.• Rolled out DeFi lending for USDC, giving users a new way to earn more from their assets in applicable markets.• Partnered with @Samsung to bring crypto 75+ milli ...