Coinbase Reports $667M Q4 Loss as Crypto Market Downturn Hits Revenues

Coinbase earnings just broke its streak, and not in a good way. After eight straight winning quarters, it posted a brutal $667 million net loss in Q4 2025. That is a punch to the face. As crypto prices slid from their yearly highs, the exchange completely missed Wall Street revenue expectations. Revenue came in at $1.78 billion. Sounds big, but it was below the $1.85 billion analysts expected. Transaction revenue was the real damage. Down 37% to $982.7 million. That tells you everything about trader ac ...