Analyst’s Disclosure: I/we have a beneficial long position in the shares of COIN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. This text expresses the views of the author as of the date indicated, and such views are subject to change without notice. The author has no d ...

Coinbase's growth has slowed, but the company is still positioned to be a long-term winner on the blockchain.Coinbase (COIN 3.32%) stock has pulled back recently as the company's growth from trading and stablecoins has slowed. But the opportunity may be bigger than ever, which Travis Hoium covers in this video.*Stock prices used were end-of-day prices of Nov. 1, 2024. The video was published on Nov. 3, 2024. ...

In this articleCOINwatch nowWASHINGTON — In the first few years after founding Coinbase, CEO Brian Armstrong shied away from Washington, D.C. But as his ambitions for his crypto exchange scaled, so too did his need to curry favor on Capitol Hill."About five or six years ago, we realized that crypto was getting big enough that we needed to go really engage actively in a policy effort, so I started coming out to D.C.," Armstrong, who started Coinbase in 2012, told CNBC in September, following a day of meeting ...

SAN DIEGO, Nov. 2, 2024 /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Coinbase Global, Inc. (NASDAQ: COIN) publicly traded securities between April 14, 2021 and July 25, 2024, inclusive (the "Class Period"), have until Tuesday, November 12, 2024 to seek appointment as lead plaintiff of the Coinbase class action lawsuit.  Captioned Castle v. Coinbase Global, Inc., No. 24-cv-04850 (E.D. Pa.), the Coinbase class action lawsuit charges Coinbase and certain of Coinbas ...

Coinbase's journey over the last year has been impressive, but what could the next year hold for this cryptocurrency powerhouse?Just a year ago, Coinbase Global (COIN 2.02%) was trading around $75 per share. Fast-forward to today, and it has seen a major surge, climbing to roughly $210.For those who joined me in investing in Coinbase over the last two years, you're already enjoying significant gains. But there's reason to believe that Coinbase might climb even higher over the next year, as it positions itse ...

NEW YORK, Nov. 03, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Coinbase Global, Inc. (NASDAQ: COIN) between April 14, 2021 and July 25, 2024, both dates inclusive (the “Class Period”), of the important November 12, 2024 lead plaintiff deadline in the securities class action first filed by the Firm. SO WHAT: If you purchased Coinbase securities during the Class Period you may be entitled to compensation without payment of any out of po ...

NEW YORK, Nov. 1, 2024 /PRNewswire/ --Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Coinbase Global, Inc. (NASDAQ: COIN) between April 14, 2021 and July 25, 2024, both dates inclusive (the "Class Period"), of the important November 12, 2024 lead plaintiff deadline in the securities class action first filed by the Firm.So what: If you purchased Coinbase securities during the Class Period you may be entitled to compensation without payment of any out of pocket fee ...

The Coinbase logo is displayed on a mobile phone screen with stock market percentages in the background.Coinbase shares were under pressure Thursday, a day after the company reported weaker-than-expected earnings and gave a tepid revenue outlook for the current quarter.The stock lost 10.6%, putting it on pace for its biggest drop since June 2023, when it fell 12.1%. A broader market decline also pressured Coinbase. Other crypto-related stocks fell as well. Robinhood, which also reported weak earnings Wednes ...

Coinbase Global, Inc. (COIN) reported third-quarter 2024 core earnings of 62 cents per share, which beat the Zacks Consensus Estimate by 51.2%. The company had incurred a loss of 1 cent per share in the year-ago quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. The quarterly results gained from higher consumer transaction revenues, institutional transaction revenues, stablecoin revenues, an increase in blockchain rewards, higher custodial fee revenues and improved adjusted EB ...

Financial Data and Key Metrics - Q3 total revenue was $1.2 billion, with adjusted EBITDA of $449 million and net income of $75 million [29] - Total trading volume was $185 billion, down 18% quarter-over-quarter, driven by lower crypto asset volatility and average asset prices [30] - Transaction revenue was $573 million, down 27% quarter-over-quarter, impacted by lower trading volume and stablecoin pair trading growth [30][31] - Subscription and services revenue was $556 million, down 7% quarter-over-quarter, with stablecoin revenue growing 3% [33] - Total USD resources grew 5% quarter-over-quarter to $8.2 billion, with a $1 billion stock buyback program authorized [35] Business Line Performance - Consumer stablecoin pair trading volume grew significantly, driven by product updates enabling easier trading for advanced traders [31] - Institutional spot revenue declined, but prime broker and derivatives businesses showed relative outperformance [32] - Coinbase One paid subscribers reached all-time highs in Q3 [33] - Base, the Layer 2 solution, saw transaction count increase by 55% quarter-over-quarter, maintaining median transaction fees below $0.01 [42] Market Performance - USDC market cap grew 45% year-to-date to $36 billion in Q3, making it the fastest-growing major U.S. dollar-backed stablecoin [14] - EURC, a Euro-backed stablecoin, doubled its market cap in Q3, becoming the largest euro-backed stablecoin [15] - Stablecoin payment volume surpassed $20 trillion in 2024, doubling from $10 trillion in 2023 [13] Strategic Direction and Industry Competition - The company is focused on driving revenue, utility, and regulatory clarity, with a goal of bringing 1 billion or more people into the crypto space [6][21] - Base, the Layer 2 solution, is positioned as the 1 Layer 2 solution by transaction count and total value on the platform [17][42] - The company is investing in international expansion, with revenues from new markets exceeding direct operating costs [9] - Regulatory clarity is seen as a key driver for future growth, with bipartisan support for pro-crypto legislation in the U.S. [22][25] Management Commentary on Operating Environment and Future Outlook - Management highlighted the importance of stablecoins, smart wallets, and Layer 2 solutions in driving utility and adoption [11][12][17] - The company expects to see global GDP increasingly run on crypto rails, with payments flowing to the path of least resistance [20][21] - Regulatory clarity is expected to unlock significant growth opportunities, particularly for institutional adoption [27][55] Other Important Information - The company announced a $25 million commitment to Fairshake, a pro-crypto advocacy group, to support momentum into the 2026 midterms [26] - Coinbase Developer Platform (CDP) is seen as a potential "AWS of crypto," enabling third-party integration of crypto technologies [43] Q&A Session Summary Question: Would Coinbase consider a Bitcoin or Ethereum reserve strategy? - Coinbase holds a $1.3 billion crypto investment portfolio, including Bitcoin and Ethereum, but emphasizes it is an operating company, not an investment company [39][40] Question: How are Base, Smart Wallet, and cbBTC driving revenue? - Base generates revenue via sequencer fees, while Smart Wallet simplifies onboarding and cbBTC enables DeFi usage of Bitcoin [41][42] Question: Any plans to provide dividends to shareholders? - The company announced a $1 billion stock buyback program as a way to return capital to shareholders [45] Question: What drives the retail fee rate decline? - The decline is due to a mix shift towards stablecoin pair trading, which generates little-to-no fees, and lower nontrading transaction revenue [51] Question: How does regulatory clarity impact Coinbase? - Regulatory clarity would unlock innovation, accelerate asset listings, and enable staking and stablecoin growth [55][60] Question: Is there a shift from USDC to Tether? - No significant shift is observed, with USDC remaining the fastest-growing major stablecoin [65] Question: What are the spending plans for 2025? - The company will focus on expense discipline, selectively increasing headcount and variable spend based on growth opportunities [67] Question: Thoughts on holding Bitcoin on the balance sheet? - Coinbase holds crypto assets but emphasizes its role as an operating company, not an investment company [69][70] Question: Product gaps and M&A strategy? - The company is actively pursuing M&A, particularly in international markets, Base, and utility-driven use cases [73][74] Question: Strategic positioning of Base in the Layer 2 space? - Base is built on the optimism stack and focuses on interoperability, with a unique advantage from Coinbase's ecosystem integration [80][82] Question: Stablecoin contribution to retail trading volume? - Stablecoin trading volume is not quantified, but the mix shift towards stablecoins was a key driver of fee rate changes in Q3 [84] Question: Derivatives expansion plans? - The company is operationalizing its MiFID license in Europe and improving unified margin access to scale its derivatives offering [88][89]