today at Coinbase uh backed off a little bit, but what are we expecting. Yeah, Mike, analysts anticipating a weak quarter of trading following that exuberance that we saw in Q1 as traders were of course still celebrating the new pro crypto Trump administration and all of the policies that would be to come. Come April, however, as Washington's focus shifted to tariffs, uh we saw speculative trading by retail slowed across centralized exchanges, including Coinbase, and it was inflows into crypto ETFs and buyi ...

Financial Performance - Coinbase Q2 2025 revenue reached $1.5 billion, a 26% decrease from the previous quarter [1] - Net income totaled $1.43 billion, with adjusted net income at $33 million [1] - Stablecoin revenue increased by 12% to $333 million [1] Strategic Initiatives - Coinbase plans to introduce tokenized stocks, prediction markets, derivatives, and early-stage token offerings for U S users [1]

Coinbase posted $1.5 billion in revenue in Q2 and $1.4 billion in net income.🤯 ...

Financial Performance - For Q2 2025, the company's net revenue was $1.4 billion, with transaction revenue of $764.3 million and subscription and services revenue of $655.8 million, compared to $1.4 billion, $780.9 million, and $599.0 million in Q2 2024, respectively [139]. - The company's net income for Q2 2025 was $1.4 billion, significantly up from $36.2 million in Q2 2024, while Adjusted EBITDA was $512.1 million, down 14% from $595.6 million in the same quarter of 2024 [140]. - For the three months ended June 30, 2025, total revenue increased to $1,497,208, a 3.3% rise from $1,449,628 in 2024, while for the six months, it rose to $3,531,503, up 14.4% from $3,087,198 in 2024 [153]. - Net income for the three months ended June 30, 2025, was $1,428,900, a significant increase from $36,150 in 2024, and for the six months, it rose to $1,494,508 from $1,212,395 in 2024 [153]. - Adjusted EBITDA for the three months ended June 30, 2025, was $512,065 thousand, compared to $595,552 thousand in the same period of 2024, reflecting a decrease of $83,487 thousand [185]. User Metrics - Monthly Transacting Users (MTUs) increased to 8.7 million in Q2 2025, up 6% from 8.2 million in Q2 2024, and 9.2 million for the first half of 2025, a 14% increase from 8.1 million in the same period of 2024 [142]. Trading Volume - Trading Volume for Q2 2025 was $237 billion, a 5% increase from $226 billion in Q2 2024, with consumer trading volume rising by 16% and institutional trading volume increasing by 3% [151]. - Trading Volume growth for the three months ended June 30, 2025, was lower than the 12% growth in the overall U.S. spot market trading volume, while for the six months, it outpaced the 15% growth in the overall U.S. spot market [154]. - Trading Volume by asset showed Bitcoin's share decreased to 30% in Q2 2025 from 35% in Q2 2024, while the share of other crypto assets increased by 38% [151]. Revenue Breakdown - Transaction revenue for the three months ended June 30, 2025, was $764,270, a decrease of 2.1% from $780,902 in 2024, while for the six months, it increased by 9.1% to $2,026,478 from $1,857,643 in 2024 [156]. - Subscription and services revenue increased to $655,826 for the three months ended June 30, 2025, up 9% from $599,040 in 2024, and for the six months, it rose to $1,353,937, a 22% increase from $1,109,976 in 2024 [159]. - Stablecoin revenue for the three months ended June 30, 2025, was $332,497, a 38% increase from $240,436 in 2024, and for the six months, it rose to $630,032, up 44% from $437,753 in 2024 [159]. - The percentage of transaction revenue from Bitcoin increased to 34% for the three months ended June 30, 2025, compared to 31% in 2024, while Ethereum's share decreased to 12% from 17% [157]. Expenses - Total transaction expenses increased by 28% to $245.3 million for the three months ended June 30, 2025, compared to $191.5 million in 2024 [162]. - Technology and development expenses rose by 6% to $387.3 million for the three months ended June 30, 2025, from $364.3 million in 2024 [163]. - Sales and marketing expenses surged by 43% to $236.2 million for the three months ended June 30, 2025, compared to $165.3 million in 2024 [167]. - General and administrative expenses increased by 10% to $353.7 million for the three months ended June 30, 2025, from $320.1 million in 2024 [168]. - Other operating expenses increased to $308.0 million for the three months ended June 30, 2025, from $34.4 million in 2024, primarily due to losses associated with a data theft incident [173]. Cash and Assets - The company's cash and cash equivalents totaled $7,539,388 thousand as of June 30, 2025, down from $8,543,903 thousand at the end of 2024 [188]. - The total USDC holdings increased to $2,153,824 thousand as of June 30, 2025, compared to $1,241,808 thousand at the end of 2024, with $1,783,627 thousand not loaned or pledged as collateral [188]. - Long-term debt as of June 30, 2025, was $4.3 billion, with $1.3 billion classified as a current liability due within the next 12 months [191]. - As of June 30, 2025, the company held $126.0 million in crypto assets for operations, $951.3 million as collateral, $223.6 million borrowed, and $1.8 billion for investment [194]. Strategic Initiatives - The company secured its Markets in Crypto-Assets Regulation (MiCA) license, marking a significant milestone in advancing crypto policy and regulation [138]. - The growth in USDC AOP was attributed to the USDC rewards program and deeper integration across products, with USDC AOP increasing by 56% year-over-year [148]. - The company plans to dynamically adjust its expense base in response to market conditions and revenue opportunities, particularly concerning variable expenses [141]. - The company does not plan to engage in regular trading of crypto assets but may purchase additional assets for a buy and hold strategy [193]. Tax and Regulatory Compliance - The provision for income taxes for the three months ended June 30, 2025, was $394,873 thousand, an increase of $491,260 thousand compared to a benefit of $96,387 thousand in 2024, reflecting higher pretax income [178]. - The company complied with regulatory capital requirements of approximately $1.3 billion as of June 30, 2025, met by a combination of corporate cash and certain crypto assets [199]. - The company does not expect the One Big Beautiful Bill Act to have a material impact on its effective tax rate and net deferred tax asset balance in 2025 [179].

智通财经8月1日电，COINBASE第二财季总收入为15亿美元，预估为15.9亿美元。 ...

Listen to our live financial update on 𝕏 at 2:30PM PT today.https://t.co/HTbAWjUeY4 ...

Our Q2 2025 financial results are now live. https://t.co/PMx4cOz9fM ...

Second Quarter 2025 July 31, 2025 Fellow Shareholders, We delivered solid financial results in Q2, generating $1.5 billion in total revenue, $1.4 billion in net income (which includes both a $1.5 billion gain on strategic investments and a $362 million gain on crypto investment assets), $33 million in Adjusted Net Income (which excludes both aforementioned items) and $512 million in Adjusted EBITDA. Transaction revenue was $764 million. Subscription and services revenue was $656 million, driven by continued ...

🇺🇸 JUST IN: Coinbase CEO says first White House crypto report confirms market structure legislation is key to making the U.S. the global crypto capital. https://t.co/7dzvXliQZw ...

RT Base Build (@buildonbase)The @coinbase protocol security team is now offering free security reviews to a cohort of apps and protocols on @base chain, in beta.Selected teams will receive a scoped review, security-related recommendations, and other assistance to improve.Spots are limited! Info in 🧵 https://t.co/PUuVP2WZFU ...