Core Insights - Coinbase reported a significant net profit of $1.43 billion for Q2, with a GAAP EPS of $5.14, driven largely by non-recurring investment gains rather than core operational performance [1][3][4] - Despite the impressive profit figures, total revenue of $1.45 billion fell short of market expectations of $1.6 billion, indicating underlying operational challenges [2][4] Financial Performance Overview - Q2 net profit surged from $0.14 to $5.14 per share year-over-year, with adjusted EPS at $1.96, exceeding market expectations of $1.26 [2] - Total revenue increased by 3.3% year-over-year but was below market expectations, highlighting a disconnect between profit and revenue growth [2][4] Revenue Breakdown - Transaction revenue for Q2 was $764 million, a 39% decline from the previous quarter and below the expected $787 million, reflecting decreased trading activity [5] - Subscription and services revenue reached $656 million, a 9% year-over-year increase but still below the anticipated $706 million [6] - Retail trading volume grew 16% year-over-year to $43 billion, yet fell short of analyst expectations of $48 billion [7] Stablecoin Performance - Stablecoin revenue, particularly from USDC, amounted to $332.5 million, showing a 38% year-over-year increase and a 12% quarter-over-quarter increase, benefiting from Circle's successful IPO [8] - Concerns remain regarding the sustainability and scalability of this growth [9] Cost Structure and Challenges - Total operating expenses rose 15% quarter-over-quarter to $1.5 billion, including $307 million related to a data breach incident [10] - Overall spending on technology, administration, and marketing reached $977 million, with potential for further increases due to global expansion [10] Future Outlook - For Q3, Coinbase expects transaction revenue of approximately $360 million and subscription and services revenue between $665 million and $745 million, driven by rising crypto asset prices and stablecoin income [11] - The company plans to enter new sectors such as real asset tokenization and derivatives, indicating a shift from being merely a trading platform to a broader financial infrastructure operator [12][13] Summary - While Coinbase's Q2 results appear strong on the surface, underlying issues such as declining core operational performance and high expenses have raised concerns among investors, leading to a 10% drop in stock price post-announcement [1][4] - Long-term prospects may improve if the company successfully navigates new growth areas in stablecoins and blockchain finance [14]

Core Viewpoint - The U.S. stock market experienced a significant decline, with all three major indices dropping and a total market value loss exceeding $1 trillion in a single day, driven by disappointing non-farm employment data and increased expectations for a Federal Reserve rate cut in September [3][5][12]. Market Performance - As of the market close, the Dow Jones Industrial Average fell by 1.23% to 43,588.58 points, the S&P 500 dropped by 1.6% to 6,238.01 points, and the Nasdaq Composite plummeted by 2.24% to 20,650.13 points. For the week, the Dow decreased by 2.92%, the S&P 500 by 2.36%, and the Nasdaq by 2.17% [5][11]. - Major technology stocks also saw significant declines, with Amazon dropping 8.27%, resulting in a market value loss of over $200 billion. Other notable declines included Facebook (over 3%), Apple and Nvidia (over 2%), and Tesla, Microsoft, and Google (over 1.5%) [7][8]. Employment Data and Federal Reserve Expectations - The U.S. non-farm employment report for July showed only 73,000 new jobs added, significantly below expectations, and previous months' data was revised down by a total of 258,000 jobs, marking the worst performance since the pandemic began [12][18]. - Following the employment report, the probability of a Federal Reserve rate cut in September surged to nearly 90%, with the likelihood of maintaining current rates dropping to 10.2% [15][21]. Commodity Market Reactions - Gold prices surged by 2.22% to $3,362.64 per ounce, while silver saw a slight increase of 0.84% to $37.017 per ounce, despite a weekly decline of 2.94%. In contrast, international oil prices fell, with Brent crude down 2.83% to $69.67 per barrel and WTI down 2.78% to $67.33 per barrel [12][14]. Political Developments - President Trump ordered the immediate dismissal of Labor Statistics Bureau Director Erika McEntarfer following the release of the disappointing employment data, claiming the data was manipulated for political purposes [18][21]. - Additionally, Federal Reserve Governor Christopher Waller announced his resignation, creating an opportunity for Trump to appoint a preferred candidate to the Federal Reserve Board [20][21].

Dan, it's good to see you. Thanks for being here. Um, of course, >> so there's sort of a disconnect here.If you, if you, you know, didn't know anything about Coinbase and you woke up and you said that the numbers missed and yet you looked at what crypto prices have been doing, you might be surprised. So, what was going on here. >> I mean, volumes were weaker, right, than people were expecting and and I'm actually quite surprised because you can actually track those things pretty s, you know, pretty pretty n ...

格隆汇8月2日｜美股三大指数集体收跌，道指跌1.23%，本周累计下跌2.92%，纳指跌2.24%，本周累计 下跌2.17%，标普500指数跌1.6%，本周累计下跌2.36%，热门科技股普跌，亚马逊跌超8%，Meta跌超 3%，苹果、英伟达跌超2%，特斯拉、微软、谷歌跌超1%。加密货币、计算机硬件板块跌幅居前， Coinbase跌超16%，Strategy、Circle跌超8%，安高盟跌超7%，昆腾跌近6%，戴尔科技跌超4%，超微电 脑跌近4%，罗技跌超3%。减肥药、贵金属板块走高，黄金资源涨近17%，金田涨超5%，礼来涨超 3%，诺和诺德涨超2%。 纳斯达克中国金龙指数收跌1.82%，热门中概股普跌，哔哩哔哩跌超4%，理想汽车跌超3%，拼多多、 阿里巴巴、名创优品跌近3%，百度、京东跌超1%，蔚来涨超2%。 ...

Coinbase's Q2 earnings point to shrinking USDC margins for Circle, Mizuho says https://t.co/CKjcoMVuRy ...

朋友們，2025年8月的第一天 我們來更新比特幣的行情 這個是比特幣的日線圖 從日線級別來看 我們發現比特幣有那麼一點點 好像要往下面走的感覺 那麼這是不是正常的是不是和以往一樣 是不是在這個位置 實際上我們可以看到 原先從日線級別來連接一下 自然回落的低點 我們會發現它把前面的低點 這樣的一些低點出現了跌破 然後收回去有一段時間的盤整 但是沒有繼續往上走 然後又再繼續往下 那麼我們可以看一下比較臨近的這一段 我們我們看一看這是標志性的低點 對不對 然後先是有一個小小的假跌破 但是跌破不是特別多 我們來連接一下 看看這個地方有沒有一定的相似性 好像是有那麼一點相似性的 然後漲上去沒有創出沃特曼汗 然後就往下面跌了之後 又把前面這樣的一個低點出現了跌破 然後收了回來 我們可以看到在這邊 似乎也可以畫第二條線 我們可以看到它目前來說 好像是在這樣的一個位置 但是這邊是很明顯的重新又收了回去 這邊跌下來暫時還沒有收回去 而且如果說我們來看一下成交量 那麼成交量在這邊是非常的多 通常是表明著說階段性的頂部或底部 那麼你可以看到來到這邊 成交量總算是有那麼一點點超過均值了 當然了我希望它有更多最好能夠像這樣多 那麼之後 ...

Regulatory Progress & Advocacy - U.S crypto regulation sees positive progress with the GENIUS Act becoming law and CLARITY heading to the Senate [1] - Stand With Crypto advocates sent 120 thousand emails to policymakers in support of these bills [1] Partnerships & Integrations - Coinbase partners with PNC Bank to enable clients to buy, sell, and hold crypto from their PNC accounts [2] - Over 240 businesses are utilizing Coinbase's Crypto-as-a-Service, including Blackrock, PNC, Stripe, and Paypal [2] - Samsung Pay integration rolls out in the U.S and Canada for crypto purchases and account funding [3] - Perplexity AI partnership provides traders with real-time crypto data for improved decision-making [4] - Chase partnership accelerates crypto adoption through credit card usage, rewards points redemption, and direct account linking on Coinbase [5] Product Development & Expansion - Coinbase announces the "everything exchange" supporting millions of assets, derivatives, and tokenized equities onchain [1] - Onramp API released via CoinbaseDev, enabling developers to integrate fiat-to-crypto experiences into apps [3] - Institutional clients on Coinbase Prime and Coinbase Exchange can earn up to 4.1% in USDC rewards and rebates [4] - Perpetual futures are now live in the U.S [5] - Base chain is now 10x faster with Flashblocks, reducing block times to 200ms [5] Financial Performance & Growth - Coinbase reports Q2 earnings with $1.5 billion total revenue [5] - Bitcoin-backed loans surpass $1 billion in collateral on Coinbase, powered by Morpho Labs [5]

The Daily: Bitcoin records highest monthly close, Coinbase re-enters top 10 public treasury companies with 2,509 BTC buy, and more https://t.co/9MDIdF3x70 ...

Key Takeaways COIN Q2 EPS fell 88.8% Y/Y to $0.12, missing estimates by nearly 90% despite volume and price gains.Total revenues rose 3.2% Y/Y on higher subscription, service and other income despite lower transactions.Expenses surged 37.5% Y/Y to $1.5B, weighing on adjusted EBITDA, which dipped 3.2% to $512M.Coinbase Global, Inc. (COIN) reported second-quarter 2025 net operating earnings per share of 12 cents, which missed the Zacks Consensus Estimate by 89.9%. The bottom line decreased 88.8% year over yea ...

🚨 🚨 🚨 🚨 🚨 🚨 1,297 #BTC (149,699,367 USD) transferred from unknown wallet to #Coinbasehttps://t.co/8PNmHlJqNC ...