XRP accounted for higher % of Coinbase trading revenue than ETH or SOLaccording to CB earningsxrp mfers are just built different man ...

Cryptocurrency Holdings - As of June 30, 2025, Coinbase held 11,776 bitcoins for investment [1] - Bitcoin holdings increased by 2,509 from the previous quarter [1] - The total cost basis of Bitcoin holdings is $740 million [1] - The fair value of Bitcoin holdings is $126 billion [1] - The company is continuing to increase its Bitcoin holdings [1]

Financial Data and Key Metrics Changes - Total revenue for the quarter was $1,500,000,000 with a positive adjusted EBITDA of $512,000,000 [5][16] - Net income was reported at $1,400,000,000, which included a $307,000,000 expense from a data theft incident and a $1,500,000,000 unrealized gain on strategic investments [22][24] - Adjusted net income was $33,000,000, reflecting the exclusion of certain gains and losses [24] Business Line Data and Key Metrics Changes - Consumer spot trading volume decreased to $43,000,000,000, down 45%, while consumer trading revenue fell to $650,000,000, down 41% [20] - Institutional spot trading volume was $194,000,000,000, down 38%, with institutional transaction revenue also down 38% to $61,000,000 [20] - Subscriptions and services revenue reached $656,000,000, with growth in USDC, staking, and custody assets [21] Market Data and Key Metrics Changes - Crypto asset volatility declined by 16%, with Bitcoin's average price increasing by 6%, while non-Bitcoin asset market cap decreased by 11% [17] - The US and global spot markets saw declines of 32% and 31% respectively [18] Company Strategy and Development Direction - The company aims to become the leading financial services platform globally, focusing on custody, trading, payments, staking, borrowing, and lending [6] - The "Everything Exchange" strategy is being developed to enable trading across all asset classes on crypto rails, with plans to integrate decentralized exchanges into the Coinbase app [7][10] - The company is also focusing on expanding its payment solutions, particularly through stablecoins, and has launched Stablecoin payment APIs [12][13] Management's Comments on Operating Environment and Future Outlook - Management noted that regulatory clarity is improving, which is expected to drive growth in crypto utility and adoption [14] - The outlook for Q3 is positive, with expected subscription and services revenue between $665,000,000 and $745,000,000, driven by higher average crypto prices [25][26] Other Important Information - The company has over 240 businesses using its crypto as a service capabilities, including partnerships with major institutions like BlackRock and PayPal [13][14] - A significant investment was made in the acquisition of Derivat, a leading crypto options exchange [10] Q&A Session Summary Question: How does Coinbase plan to implement tokenized securities and compete for market share? - Management expressed excitement about tokenized securities, highlighting the potential for global distribution and real-time settlement [27][28] Question: What's the projected growth for the Base app and its adoption? - The Base app is in beta with significant demand, aiming to create a super app that integrates decentralized identity and stablecoin functionalities [33][34] Question: What are Coinbase's strategic goals behind the partnership with PNC Bank? - The partnership aims to expand market access for companies entering crypto, leveraging Coinbase's infrastructure as a service [38][39] Question: Can you discuss the economics behind adding decentralized exchanges to the platform? - Monetization will occur through trading fees similar to centralized exchanges, with additional fees from decentralized exchanges operating on the Base network [93] Question: How is Coinbase addressing customer service challenges post-data breach? - The company is focusing on improving customer service through automation and in-house management of customer support operations [103][106]

Financial Data and Key Metrics Changes - Total revenue for the quarter was $1.5 billion, with a positive adjusted EBITDA of $512 million [4][14] - Net income was reported at $1.4 billion, which included a $307 million expense from a data theft incident and a $1.5 billion unrealized gain on strategic investments [21][22] - Adjusted net income was $33 million, reflecting the exclusion of certain gains and losses [22] Business Line Data and Key Metrics Changes - Consumer spot trading volume decreased by 45% to $43 billion, while consumer trading revenue fell by 41% to $650 million [17][19] - Institutional spot trading volume was $194 billion, down 38%, with institutional transaction revenue also declining by 38% to $61 million [18] - Subscriptions and services revenue reached $656 million, with growth in USDC, staking, and custody assets [19] Market Data and Key Metrics Changes - Crypto asset volatility declined by 16%, with Bitcoin's average price increasing by 6%, while non-Bitcoin asset market cap decreased by 11% [15] - Total trading volume dropped by 40%, influenced by a strategic price change in stable pairs [16] Company Strategy and Development Direction - The company aims to become the leading financial services platform globally, focusing on trading, custody, payments, and more [5][10] - The "Everything Exchange" concept is being developed to facilitate trading across all asset classes on crypto rails, with plans to integrate decentralized exchanges into the Coinbase app [6][8] - The company is also expanding its payment solutions, emphasizing stablecoin payments as a significant growth area [10][11] Management's Comments on Operating Environment and Future Outlook - Management noted that regulatory clarity is improving, which is expected to enhance the adoption of crypto solutions [12] - The outlook for Q3 is positive, with July transaction revenue estimated at $360 million and subscription revenue projected to increase by approximately 8% quarter over quarter [23] Other Important Information - The company has over 240 businesses utilizing its crypto as a service capabilities, including partnerships with major financial institutions [11][38] - A significant focus is placed on enhancing customer service and security measures following a data breach incident [102][105] Q&A Session Summary Question: How does Coinbase plan to implement tokenized securities? - Management expressed excitement about tokenized securities, highlighting the potential for global distribution and real-time settlement [25][27] Question: What is the projected growth for the Base app? - The Base app is in beta with a waitlist of 700,000 users, aiming to create a super app for decentralized identity and content monetization [31][33] Question: What are the strategic goals behind the partnership with PNC Bank? - The partnership aims to expand market access for companies entering crypto, leveraging Coinbase's infrastructure as a service [37][38] Question: How does Coinbase view its role in the payments landscape? - Coinbase is not directly competing with Visa and Mastercard but is focused on providing decentralized payment solutions that lower costs for businesses [52][56] Question: What are the economics behind adding decentralized exchanges to the platform? - Monetization will occur through trading fees at the brokerage layer, with potential additional revenue from sequencer fees on decentralized exchanges [92][93]

Financial Performance - Coinbase missed revenue estimates for the second quarter [1] - Subscription revenue growth failed to offset weaker trading volumes [2] - Subscriptions and services offerings grew 9% year-over-year to $656 million, but fell short of analyst projections of approximately $76 million [3] - Stablecoin revenue met expectations at approximately $332 million [3] Market Trends & Dynamics - Q1 trading exuberance was linked to the anticipation of a "proc crypto Trump administration" [2] - Washington's focus shifted to tariffs in April [2] - Retail speculative trading slowed across centralized exchanges [3] - Crypto ETF inflows and crypto treasury companies' buying supported prices [3] - Stablecoins were a major theme and driver in the crypto market in Q2 [4]

JUST IN: $100B Coinbase just became the 10th largest Bitcoin treasury company.The Bitcoin treasury race is getting real. 🏁 https://t.co/xlmUjQF8c5 ...

Coinbase Global, Inc. (COIN) came out with quarterly earnings of $0.12 per share, missing the Zacks Consensus Estimate of $1.19 per share. This compares to earnings of $1.07 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -89.92%. A quarter ago, it was expected that this company would post earnings of $1.85 per share when it actually produced earnings of $1.94, delivering a surprise of +4.86%.Over the last four quarters, the c ...

Financial Performance - Coinbase revenue missed expectations, coming in at $15 billion, slightly below the street's expectation of $16 billion [1] - Earnings per share at $514 is unclear if comparable to estimates [1] - Total transaction revenue reached approximately $764 million, slightly below expectations [1] - Subscription revenue was $656 million, below the estimated $76 million [2] Revenue Breakdown - Stable coin revenue met expectations at approximately $33 million [2]

Going live: Coinbase earnings call.Listen in as our leadership team delivers our Q2 2025 financial update and our plans for the rest of the year.https://t.co/HTbAWjUeY4 ...

Well, let's get another check on Coinbase because those shares are lower now after trading volume came in lighter than forecast. Joining us now exclusively is Coinbase CFO Alicia Hos. Alicia, it's great to have you on and just walk me through the quarter here because it does look like revenue missed as well as transaction revenue, subscription revenue, and trading volume, although stable coins uh were a bit stronger than expected.What do you attribute to the softer than expected quarter at least versus stre ...