🚨 🚨 🚨 🚨 770 #BTC (85,821,961 USD) transferred from unknown wallet to Coinbase Institutionalhttps://t.co/jLKcuqxexf ...

Core Viewpoint - Coinbase is expected to report strong third-quarter earnings, with analysts predicting a significant increase in both earnings per share and revenue compared to the previous year [1] Revenue Expectations - Analysts estimate Coinbase will report earnings per share (EPS) of $1.14, up from $0.28 in Q3 last year, and revenue of $1.8 billion, an increase from $1.2 billion in the same period of 2024 [1] Analyst Perspectives - JP Morgan's Kenneth Worthington is optimistic, upgrading Coinbase to "Overweight" with a price target of $404 for December 2026, driven by the potential launch of a Base token that could add significant equity value [3] - Barclays' Benjamin Budish shares a positive revenue outlook but maintains an "Equal Weight" rating, forecasting adjusted EBITDA to be 6% above consensus, with total Q3 transaction revenue estimated at $1.05 billion [5][6] - Compass Point's Ed Engel is more cautious, maintaining a "Sell" rating due to concerns over lower-margin subscription revenues and the impact of USDC and staking payouts on profitability [7] Market Dynamics - Worthington believes the Base token could command a market cap between $12 billion to $34 billion, potentially adding $14 to $42 per share in equity value for Coinbase [3] - Engel expresses skepticism about the Base token's potential, indicating a lack of conviction in its long-term impact [8]

Seems like a smash Yes situation on Coinbase earnings tomorrow https://t.co/KFtnTRNtLACoinbase 🛡️ (@coinbase):We still doing the revenue meta?Earnings tomorrow. https://t.co/7y4lzgbB8T ...

We still doing the revenue meta?Earnings tomorrow. https://t.co/7y4lzgbB8T ...

Core Viewpoint - Coinbase Global Inc is expected to report strong trading volume and financial results for the third quarter, driven by Bitcoin reaching new highs during this period [1][8]. Earnings Estimates - Analysts predict Coinbase will report third-quarter revenue of $1.79 billion, an increase from $1.21 billion in the same quarter last year [2]. - The expected earnings per share (EPS) for the third quarter is $1.13, up from 73 cents per share in the previous year [3]. Analyst Insights - Several analysts have lowered their price targets for Coinbase ahead of the earnings report, with Rosenblatt's Chris Brendler reducing the target from $470 to $450 while maintaining a Buy rating [4]. - Brendler noted that the third-quarter results may be less significant than future guidance, particularly regarding the Derebit acquisition [5]. - BTIG initiated coverage on Coinbase with a Buy rating and a price target of $410, highlighting the company's potential to bridge crypto and traditional finance [6]. Growth Areas - Analysts identified three major growth areas for Coinbase: the development of the Base App, stablecoin adoption, and the rapid scaling of the derivatives business [7]. - The company has diversified its revenue streams in recent quarters, which could enhance its financial stability [7]. Key Items to Watch - The report will cover the months of July, August, and September, during which Bitcoin reached an all-time high of over $123,000 in August, likely contributing to strong trading volumes [8]. - The results may influence investor sentiment and trading behavior following the earnings announcement [8]. Regulatory Environment - Coinbase CEO Brian Armstrong has been actively advocating for cryptocurrency regulation, expressing optimism about a potential bill being passed by the end of 2025 [9]. Recent Acquisitions - Coinbase completed the acquisition of Derebit in the third quarter and is also acquiring blockchain fundraising platform Echo for $375 million, which may impact future guidance and financial outlook [10]. Recent Performance - Following a second quarter with declines in transaction revenue, subscription and services revenue, and trading volume, Coinbase aims to demonstrate a rebound in these areas for the third quarter [11].

🚨 🚨 🚨 🚨 🚨 🚨 🚨 174,000,000 #USDC (173,966,157 USD) transferred from unknown wallet to #Coinbasehttps://t.co/24IQVeTCid ...

🚨 🚨 1,534,568 #LINK (27,492,904 USD) transferred from unknown wallet to #Coinbasehttps://t.co/Gpesuxk7kQ ...

Core Viewpoint - Some Bitcoin-related stocks experienced declines on Wednesday, indicating potential market volatility in the cryptocurrency sector [1] Company Performance - Bitmine Immersion Technologies (BMNR.US) fell over 2.5% [1] - SharpLink Gaming (SBET.US) decreased by more than 1.4% [1] - Coinbase (COIN.US), Circle (CRCL.US), and Strategy (MSTR.US) each dropped over 1% [1]

Core Insights - Coinbase is evolving from a traditional crypto exchange into a comprehensive ecosystem that supports the industry's core infrastructure by 2025 [1] - Despite a pro-regulation stance that may have affected its market ranking, Coinbase remains a significant player in the crypto space, generating over $2.4 billion in 24-hour trading volume as of October 25, which is approximately 10 times less than Binance and Gate [2] - Analysts are cautiously optimistic about Coinbase's Q3 2025 earnings, expecting a year-on-year revenue growth of 44% to over $1.76 billion and a net income increase of 150% to over $400 million [5] Company Performance - Coinbase's trading volume is significantly lower than competitors, but its compliance efforts help mitigate risks associated with wash trading, which has hindered the approval of spot Bitcoin and Ethereum ETFs [2] - The company has expanded its offerings to include popular Solana meme coins, reflecting the growing demand for diverse crypto services [3] - The upcoming Q3 2025 earnings report is highly anticipated, especially following the recent earnings releases from major tech companies [4] Market Dynamics - Rising cryptocurrency prices are expected to drive trading revenue, alongside income from subscriptions and institutional services like staking and custody [6] - Monthly transacting users (MTUs) are projected to exceed 8.5 million, indicating a potential revival in retail trading activity [6] - In Q2 2025, Coinbase's MTUs fell short of estimates by 10%, suggesting that a rebound in Q3 could signal improved market conditions [7]

Core Insights - Citi and Coinbase have formed a partnership to develop stablecoin payment capabilities for institutional clients, aiming to bridge traditional and digital finance [1][2]. Group 1: Partnership Details - The partnership will initially focus on streamlining fiat pay-ins and pay-outs, facilitating the conversion between traditional currency and cryptocurrency [2]. - Citi's head of payments and services highlighted the collaboration as a natural extension of their "network of networks" approach, enhancing payment capabilities across borders [3]. - Coinbase's head of crypto-as-a-service emphasized the importance of their infrastructure in supporting financial institutions to create effective products for their clients [4]. Group 2: Broader Context - Coinbase has established partnerships with 250 financial institutions globally, indicating a growing trend among U.S. banks to engage in crypto partnerships due to an improving regulatory environment [4]. - Other notable partnerships include Coinbase's collaboration with PNC to provide digital-asset access and with JPMorgan Chase [5]. - Coinbase also launched a bitcoin rewards credit card in partnership with American Express and Cardless, allowing customers to earn bitcoin with purchases [5].