Coinbase Global (COIN) Company Report

The Coincheck app achieved the #1 position for annual downloads in Japan for the seventh consecutive year in 2025, maintaining its leadership in the Japanese market since 2019.
Coincheck Group N.V. expanded its global presence by acquiring Aplo SAS, a French-regulated digital asset prime brokerage, in October 2025, establishing a critical operational foothold in the European market and offering specialized services for institutional investors.
The company also leverages Next Finance Tech Co., Ltd., acquired in April 2025, to provide global blockchain infrastructure and staking solutions.

2 days ago

Press Release

Goldman Sachs Upgrades Coinbase to Buy Rating

COIN

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Goldman Sachs upgraded Coinbase to Buy from Neutral and raised its price target to $303 (from $294), while downgrading eToro due to increasing competitive pressures.
Goldman Sachs projects Coinbase's revenue to grow approximately 12% annually through 2027, driven by a shift towards structural growth areas such as subscription and services, derivatives, tokenization, and crypto infrastructure.
Coinbase's public financial metrics include a market capitalization of approximately $63.8 billion, trailing 12-month revenue of about $7.67 billion, an operating margin near 28.3%, and a net margin around 41.9%.
Coinbase joined the S&P 500 in May 2025, which is cited as a catalyst for renewed institutional interest, and plans to expand into equities, prediction markets, and commodities in 2026.

3 days ago

CNBC

Coinbase Acquires Prediction-Market Startup The Clearing Company

COIN

M&A

New Projects/Investments

Coinbase is acquiring prediction-market startup The Clearing Company, led by Toni Gemayel, with the transaction expected to close in January.
This acquisition aims to accelerate and scale Coinbase’s prediction-markets product as part of its strategy to build an “Everything Exchange,” allowing customers to trade event contracts alongside other asset classes.
The deal positions Coinbase against established prediction-market players and reflects a broader trend of retail platforms becoming one-stop financial supermarkets.
Investors reacted positively to the news, lifting Coinbase shares approximately 3%. This marks Coinbase's tenth acquisition in 2025.

Dec 22, 2025, 3:27 PM

WSJ

Coinbase's Base App Integrates Doma Protocol's Names Marketplace

COIN

Product Launch

New Projects/Investments

Doma Protocol launched the Doma Names Marketplace on the Base app on December 18, 2025, enabling users to discover, trade, and manage traditional internet domains directly within the Base ecosystem.
This integration brings over 40 million DNS domains onchain from ICANN-accredited registrars, allowing instant purchases with USDC or ETH.
Doma Protocol tokenizes DNS domains, transforming the $360 billion domain industry into tradable assets and making them programmable across Web3.
Strategic partnerships with major domain registrars, such as InterNetX, are onboarding their portfolios onto Doma Protocol, unlocking new distribution channels.
Coinbase Ventures is an investor in D3 Global, a core contributor to Doma Protocol, which previously secured a $25M Series A funding round.

Dec 18, 2025, 4:00 PM

Press Release

Coinbase Expands Offerings with "Everything Exchange" and New Financial Services

COIN

Product Launch

New Projects/Investments

Coinbase has launched the "everything exchange," significantly expanding its platform to include stock trading, equity perpetuals (available outside the U.S. with up to 20 times leverage), and prediction markets. The company also enhanced its crypto trading capabilities by introducing derivatives (futures and perpetual futures) for U.S. traders and providing access to millions of on-chain assets via decentralized exchange trading within the Coinbase app.
New financial services introduced include direct deposit with automatic investing, USDC rewards (up to 10% for lending), instant asset unstaking, and expanded borrowing options against crypto assets (up to $5 million for Bitcoin, $1 million for Ethereum). Additionally, the Coinbase One Card was launched, offering up to 4% in Bitcoin on everyday purchases.
The Base App, a self-custodial wallet, is now globally available after exiting beta, offering social, trading, and earning features. Coinbase also launched Coinbase Tokenize, an end-to-end solution for bringing off-chain assets such as equities and real estate on-chain.

Dec 17, 2025, 10:00 PM

Transcript

Coinbase Unveils 'Everything Exchange' and Expands Business Offerings in 2025 System Update

COIN

Product Launch

New Projects/Investments

Coinbase has expanded its platform to become an "Everything Exchange", now offering trading for new asset classes including stocks, prediction markets, and derivatives for U.S. traders, alongside millions of crypto assets via decentralized exchange integration.
The company reported holding over $500 billion in crypto assets on its platform as of Q3, representing a 5x growth over the past three years.
Coinbase Business is officially out of beta and available to all, serving over 1,600 companies with features like payouts and invoices. The Coinbase Developer Platform (CDP) received a major update with enterprise APIs for custody, payments, trading, and custom stablecoins, powering crypto products for banks and fintechs.
New product launches include Coinbase Advisor, an AI-powered financial management tool, and Coinbase Tokenize, an end-to-end solution for bringing off-chain assets like equities and real estate onto the blockchain.

Dec 17, 2025, 10:00 PM

Transcript

Coinbase Unveils "Everything Exchange" and Expands Financial Services and Asset Tokenization

COIN

Product Launch

New Projects/Investments

Coinbase has launched the "Everything Exchange," significantly expanding its offerings to include stock trading, equity perpetuals, prediction markets, and derivatives for U.S. traders, alongside decentralized exchange (DEX) trading for millions of on-chain assets and a new token sales platform.
The company reported substantial growth in its financial services, with over $500 billion in crypto assets on platform as of Q3, and retail customer assets exceeding $200 billion (more than tripling since 2023). New services include direct deposit, instant unstaking, USDC lending (over $1 billion lent in three months), and a borrow product that has provided $1.5 billion in liquidity since January.
A new product, Coinbase Tokenize, was introduced as an end-to-end solution for bringing off-chain assets such as equities, private companies, funds, and real estate on-chain, integrating issuance, custody, compliance, and trading.
Coinbase also launched an AI-powered advisor for financial planning and enhanced its developer platform with new APIs, including a one-click stablecoin checkout and the x402 payment protocol.

Dec 17, 2025, 10:00 PM

Transcript

Coinbase Selects Chainlink CCIP for Wrapped Asset Expansion

COIN

New Projects/Investments

Product Launch

Coinbase has selected Chainlink's Cross-Chain Interoperability Protocol (CCIP) as the exclusive bridging solution for all its Wrapped Assets, including cbBTC, cbETH, cbDOGE, cbLTC, cbADA, and cbXRP.
This partnership is intended to enable cross-chain transfers and significant expansion for Coinbase Wrapped Assets, which currently have an aggregate market cap of approximately $7 billion.
Chainlink CCIP was chosen for its security and reliability, leveraging infrastructure that has secured tens of billions of dollars and enabled over $27 trillion in transaction volume.

Dec 11, 2025, 3:00 PM

Press Release

Coinbase Discusses Market Volatility, Regulatory Shifts, and Growth Strategies

COIN

M&A

New Projects/Investments

Revenue Acceleration/Inflection

The crypto market experienced significant volatility on October 10th, including a $19 billion liquidation event primarily on non-U.S. exchanges, but Coinbase remained "business as usual" with recent positive net inflows into ETFs and Bitcoin stabilizing around $80,000-$85,000.
The U.S. regulatory environment is becoming more favorable, with the Clarity for Payment Stablecoins Act passed and strong momentum for the broader Clarity Act in calendar year 2025, which is expected to define asset taxonomy and drive market participation.
Coinbase is expanding its offerings and market reach through strategic M&A, including the August acquisition of Deribit, which holds 75% of the options trading market share, to integrate options into its international platform and eventually bring them to the U.S..
The company's institutional business is robust, serving over a third of the top 100 hedge funds and winning 80% of the ETF custody business, with new partnerships like PNC Bank. Coinbase also offers "Crypto as a Service" to over 260 businesses, providing white-label solutions for custody, trading, and on-ramps.
Coinbase launched a credit card offering up to 4% Bitcoin back as a customer acquisition tool for its Coinbase One membership, and sees institutional demand for USDC as a settlement asset and for payments.

Dec 10, 2025, 1:30 PM

Transcript

Coinbase CFO Discusses Market Volatility, Regulatory Shifts, and Growth Strategies

COIN

M&A

New Projects/Investments

Revenue Acceleration/Inflection

Coinbase's CFO, Alesia Haas, addressed recent crypto market volatility, including a $19 billion liquidation event on October 10th, noting that Coinbase remained "business as usual" and that the market showed resilience with no systemic fallout.
The U.S. regulatory landscape is improving, with the GENIUS Act passed for stablecoin regulation and strong momentum for the proposed CLARITY Act, which Coinbase anticipates will foster market growth and attract more participants.
Coinbase is highly acquisitive, completing eight deals this year, notably acquiring Deribit, which commands 75% of the options trading market share, to integrate options into its international and future U.S. offerings.
Coinbase's institutional business is strong, serving over a third of the top 100 hedge funds and securing 80% of the ETF custody business. The company is also expanding its "Crypto-as-a-Service" to over 260 businesses, acting as an infrastructure provider.