Coinbase (NASDAQ: COIN ) announced Q2 earnings Thursday evening, disappointing investors with an adjusted EPS of $0.12, significantly below the $1.49 analyst consensus. Its net revenue came in at $1.42B, about 11% lower than expected. Losses were seen in most segments, with lower subscription and services sales, transaction revenue, andHarrison is a financial analyst who has been writing on Seeking Alpha since 2018 and has closely followed the market for over a decade. He has professional experience in the ...

Market Overview - U.S. stock futures are lower, with Dow futures dropping over 400 points on Friday [1] - Coinbase Global, Inc. shares fell sharply in pre-market trading after disappointing quarterly results [1] Coinbase Global, Inc. - Coinbase reported second-quarter revenue of $1.5 billion, a decrease of 26% quarter-over-quarter, missing the consensus estimate of $1.69 billion [2] - Adjusted earnings per share were 12 cents, falling short of the Street consensus estimate of $1.35 [2] - Coinbase shares dipped 11.2% to $335.62 in pre-market trading [2] Other Companies - Fluor Corporation's shares fell 23.1% to $43.70 after reporting second-quarter results below estimates and lowering FY25 adjusted EPS guidance [4] - Enovix Corporation declined 16.8% to $11.15 following its quarterly financial results [4] - Innodata Inc. fell 15.5% to $46.39 after releasing its second-quarter financial results [4] - Bloom Energy Corporation shares dropped 15% to $31.82 after its quarterly financial results [4] - Eastman Chemical Company fell 12.6% to $63.50 after reporting worse-than-expected second-quarter results and issuing below-estimate third-quarter adjusted EPS guidance [4] - Aeva Technologies, Inc. declined 11% to $16.60 following its quarterly results [4] - Columbia Sportswear Company fell 9.4% to $51.26 after cutting its FY25 revenue guidance [4] - Riot Platforms, Inc. dipped 9.1% to $12.19 after releasing its quarterly financial results [4] - EchoStar Corporation fell 8.8% to $29.70 following weak quarterly results [4] - Amazon.com, Inc. dipped 7.6% to $216.27 after reporting second-quarter financial results [4]

Core Insights - Coinbase is optimistic about its derivatives business roadmap, having recently launched its first perpetual contract product for U.S. retail users, with trading volume doubling week-over-week and significant growth in open interest [1][18] - The company is focusing on enhancing liquidity and trading volume in the short term, rather than immediate profitability, with plans to provide further details on revenue contributions in upcoming quarters [1][18] - Coinbase emphasizes collaboration with traditional financial institutions like Visa and Mastercard rather than competition, while also acknowledging the competitive landscape posed by decentralized protocols [1][9] Derivatives Business - Derivatives trading accounts for 75% of the cryptocurrency market, with over 90% of this activity occurring overseas [1][18] - In Q2, Coinbase reported over $1 trillion in derivatives trading volume and a record open interest of $1 billion, indicating significant progress in this area [1][18] Strategic Partnerships - Coinbase is expanding its market reach through partnerships, such as with PNC Bank and Shopify, to provide infrastructure and services to businesses entering the crypto space [5][6] - The company aims to integrate its services into major financial institutions, allowing them to leverage Coinbase's expertise without building their own complex systems [5][14] Stablecoin and Payment Solutions - The stablecoin market has seen rapid growth, with annual transaction volume increasing from nearly zero two years ago to approximately $100 billion [7][10] - Coinbase's payment solutions include a full-stack approach with low transaction fees and partnerships with trusted stablecoin providers like Circle [8][10] Tokenization and Securities - Coinbase is excited about the potential of tokenized securities, which could revolutionize the financial system by enabling real-time settlement and 24/7 trading [3][11] - The company is exploring opportunities in the tokenized securities market, although specific timelines for implementation remain unclear [3][11] User Experience and Security - Following a recent data breach, Coinbase is focusing on improving customer service and security measures, including bringing more processes in-house and investing in automation and AI [19] - The company is also enhancing its customer support infrastructure to better handle user inquiries and improve overall satisfaction [19]

Industry Adoption of Crypto - Major financial institutions like JPMorgan, PNC, and American Express are routing transactions through Coinbase/Base [1] - Bitcoin ETF custody has reached 80% [1] Market Dynamics - Banks are increasingly compelled to engage with cryptocurrency solutions [1]

Oh my god. Not only is it Friday, not only is it Friday, >> your turn is >> I get to do the five things. I get to do the five things to know ahead of the opening bell.>> Oh my. >> Shares of Coinbase are tumbling. Second quarter earnings beat estimates, but revenue fell short.Retail trading volume grew 16%, but that was below expectation. Despite uh today's decline, the stock is still up more than 50% uh over the past year. I looked I saw someone raise their price target um earlier and I just happened to loo ...

🔥 LATEST: "Excited about our next goal: becoming the everything exchange." –Coinbase CEO Brian Armstrong https://t.co/svvr70Dx6r ...

Coinbase discloses 2,509 BTC acquisition in Q2, re-enters top 10 public bitcoin treasury companies ahead of Tesla https://t.co/AdybzXJfmB ...

Core Viewpoint - Coinbase's stock price significantly declined after the release of its latest earnings report, primarily due to second-quarter revenue falling short of analyst expectations despite a year-over-year revenue increase [1][2] Group 1: Financial Performance - Coinbase reported $1.5 billion in revenue for the second quarter, a 3.3% year-over-year increase, but below the market expectation of $1.59 billion and a notable decline from $2 billion in the first quarter [1] - The company's net profit surged to $1.43 billion from $36.13 million in the same period last year, translating to earnings per share of $5.14 compared to $0.14 [1] - Subscription service revenue grew by 9% year-over-year to $655.8 million, but fell short of the expected $705.9 million [2] Group 2: Trading Volume and Market Conditions - Retail trading volume increased by 16% year-over-year to $43 billion, yet it was below the analyst forecast of $48.05 billion [2] - The overall cryptocurrency market capitalization remained stable, leading to a decline in Coinbase's spot trading volume in both the U.S. and global markets [2] - Analysts noted that the market's downturn in the second quarter was anticipated following a strong first quarter driven by favorable regulatory expectations from the Trump administration [2] Group 3: Business Diversification and Strategy - To reduce reliance on cryptocurrency trading volume, Coinbase is actively expanding into new business areas, including traditional stocks, prediction markets, foreign exchange, government bonds, and commodities [3] - The company’s CFO indicated that the technology and regulatory frameworks are maturing, marking a critical turning point for the industry [3] - Following the acquisition of the options exchange Deribit, Coinbase plans to continue its merger and acquisition strategy [4]

RT Max Branzburg (@maxbranzburg)We’re building the everything exchange, and it’s a BIG deal.Equities is a $100T market. We can transform it by building the bridge to onchain capital markets.Imagine all of this in one place: millions of crypto assets, derivatives, tokenized equities, and more. https://t.co/HvBrzpGAcQ ...

Coinbase(COIN.US)盘前大跌超11.7%，报333.5美元。消息面上，Coinbase第二季度总收入同比增长超 7%、环比下降26%至15亿美元，低于分析师预期的15.9亿美元；利润激增至14亿美元，主要得益于其对 Circle Internet Group投资获得的巨额收益。期内交易收入同比下降超2%至7.64亿美元，反映现货加密货 币交易活动的低迷。 另外，比特币日内一度跌超1.5%，逼近11.4万美元/枚，此前已连续四日走低。(格隆汇) ...