Coinbase CEO Brian Armstrong Was Asked Whether COIN Plans To Launch Its Own Prediction Market Business—Here's What He Said - Coinbase Global (NASDAQ:COIN)

Core Insights - Coinbase is exploring the possibility of launching its own prediction market venue while maintaining a partnership with Kalshi, keeping all options open for future developments [1] - The prediction market service launched by Coinbase saw significant engagement during Super Bowl LX, with Kalshi reporting a 2,700% year-over-year increase in volume, totaling over $1 billion wagered [2] Financial Performance - Coinbase reported fourth-quarter revenue of $1.78 billion, which was below analyst forecasts, but the earnings per share (EPS) of $0.66 exceeded expectations [4] - For the full fiscal year, Coinbase's total revenue reached $7.2 billion, reflecting a 9% increase year-over-year [4] Market Reaction - Following the earnings report, Coinbase shares rose by 0.87% in after-hours trading after a decline of 7.90% during regular trading hours, closing at $141.09 [5] - The stock is currently experiencing a weaker price trend across short, medium, and long-term periods, with an average value ranking according to Benzinga's Edge Stock Rankings [5] Marketing Efforts - Coinbase aired a karaoke-style advertisement during Super Bowl LX, which did not resonate well with viewers, resulting in it being the lowest-rated advertisement following the event [3]