Coinbase Global (NasdaqGS:COIN) 2025 Conference September 09, 2025 01:50 PM ET Company ParticipantsAlesia Haas - CFOBrian Armstrong - Co-founder and CEOJames Yaro - VP Equity ResearchJames YaroAll right, let's get started here. Good morning. For those who don't know me, I'm James Yaro. I cover brokers, crypto, and investment banks in Goldman Sachs Research. With us, we have Brian Armstrong, Chairman, CEO, and Founder of Coinbase, and Alesia Haas, CFO of Coinbase. Brian founded Coinbase in 2012, and Alesia j ...

Group 1 - Coinbase Global, Inc. (COIN) closed at $302.20, reflecting a +1.05% change from the previous day's closing price, outperforming the S&P 500's gain of 0.21% [1] - Over the past month, shares of Coinbase have decreased by 3.69%, underperforming the Finance sector's gain of 3.47% and the S&P 500's gain of 3.07% [1] Group 2 - Coinbase is expected to report an EPS of $1.04, indicating a 67.74% growth year-over-year, with quarterly revenue projected at $1.71 billion, up 42.19% from the same quarter last year [2] - For the entire fiscal year, earnings are projected at $7.01 per share and revenue at $7.03 billion, representing changes of -7.76% and +7.16% respectively from the prior year [3] Group 3 - Recent analyst estimate revisions for Coinbase are important as they reflect short-term business trends, with positive revisions indicating analyst optimism about the company's profitability [4] - The Zacks Rank system, which incorporates estimate changes, has a proven track record of outperformance, with 1 stocks returning an average of +25% annually since 1988 [5][6] Group 4 - Coinbase is currently trading at a Forward P/E ratio of 42.66, which is a premium compared to the industry average Forward P/E of 11.9 [7] - The Financial - Miscellaneous Services industry, to which Coinbase belongs, has a Zacks Industry Rank of 53, placing it in the top 22% of over 250 industries [7][8]

RT CV (@CryptoSrm)Shilling $USELESS to my wall street investment banker peeps next week.The best part - I don’t need to prep as the entire thesis is ‘useless’.All I need to tell them is that it has a highly liquid ROI, it’s on Coinbase and the tech behind it is ‘numba go up’.That’s it. ...

What's a 'weekend'? (I'm in crypto) ...

Market Operations - 24/7 markets are just better [1]

morpho captured something competitors can't replicate:, coinbase's 100m users, $1.2b collateral in 4 months, 33% of all cbbtc supply, exclusive prime integration, 15-20% fee kickbacks, one-click loan origination, fiat off-ramp access, $600m usdc subsidies, and counting...market hasn't priced the distribution lock-in yetbut when coinbase reports $50m quarterly defi revenue that's 80% morpho, the repricing from $656m to $3b+ happens fast ...

Core Viewpoint - A new AI trend may provide investment opportunities for stocks that underperformed in August, particularly Super Micro Computer, which has shown strong growth potential in the AI infrastructure sector [1][15]. Group 1: August Stock Performance - The S&P 500 historically performs poorly in September, with stocks often declining [1]. - Five stocks, including The Trade Desk, Super Micro Computer, Gartner, Fortinet, and Coinbase, were the worst performers in August, with declines ranging from 19% to 37% [2][4]. Group 2: Reasons for Declines - All five stocks experienced declines following their quarterly financial results, indicating that earnings reports were a common trigger for the downturn [6]. - The Trade Desk's stock fell due to disappointing Q3 2025 revenue guidance of only 14% growth and a sudden CFO change [7]. - Super Micro Computer reported a 47% year-over-year increase in net sales, but its gross margin fell to 9.5%, causing investor concern [8]. - Gartner's stock dropped despite beating earnings expectations, as management projected only 2% growth for the year, signaling limited upside [9]. - Fortinet's stock declined due to concerns over its growth amid a product refresh cycle, which management attempted to downplay [11]. - Coinbase's revenue decline and rising expenses, particularly in transaction revenue, led to a negative outlook for Q3 [12]. Group 3: Investment Opportunities - Super Micro Computer is highlighted as a potential buying opportunity due to its strong demand for AI infrastructure, with management expecting at least 50% growth in fiscal 2026 [15]. - The stock is considered undervalued at 24 times earnings, which is lower than the S&P 500 average, despite its high growth rate [16]. - Improvement in Super Micro's gross margin, projected to recover to 15%-16%, could significantly enhance profitability and stock performance [17][18].

Cryptocurrency Transaction - 586 BTC (approximately 64986725 USD) transferred from an unknown wallet to Coinbase [1] Market Movement - Large BTC transfer to Coinbase potentially indicates selling pressure or exchange-related activities [1]

Group 1 - The cryptocurrency ecosystem stocks experienced a collective decline on Friday, with notable drops in various companies [1] - Bitcoin-related stocks such as Bit Digital (BTBT.US) fell by 1.77%, Hut 8 Mining (HUT.US) dropped over 4.5%, and MicroStrategy (MSTR.US) decreased by more than 1.8% [1] - Ethereum-related stocks like Bitmine Immersion Technologies (BMNR.US) saw a decline of over 5%, while SharpLink Gaming (SBET.US) fell nearly 6% [1] Group 2 - Cryptocurrency exchange Coinbase (COIN.US) experienced a decline of over 4%, and Robinhood (HOOD.US) dropped by more than 6% [1] - Stablecoin leader Circle (CRCL.US) saw a significant drop of over 7% [1]

Core Viewpoint - The cryptocurrency ecosystem stocks experienced a collective decline on Friday, with significant drops in various companies associated with Bitcoin and Ethereum [1] Group 1: Bitcoin-Related Stocks - Bit Digital (BTBT.US) fell by 1.77% [1] - Hut 8 Mining (HUT.US) dropped over 4.5% [1] - MicroStrategy (MSTR.US) decreased by more than 1.8% [1] Group 2: Ethereum-Related Stocks - Bitmine Immersion Technologies (BMNR.US) declined by over 5% [1] - SharpLink Gaming (SBET.US) fell nearly 6% [1] - Bit Digital (BTBT.US) also dropped more than 1.8% [1] Group 3: Cryptocurrency Exchanges and Stablecoins - Coinbase (COIN.US) saw a decline of over 4% [1] - Robinhood (HOOD.US) dropped by more than 6% [1] - Circle (CRCL.US), a leading stablecoin issuer, fell by over 7% [1]