Peněženky ETF společnosti BlackRock převedly na Coinbase Prime 3 215 BTC v hodnotě 262,4 milionu USD, což zřejmě odpovídá již oznámenému odlivu 254,1 milionu USD z IBIT.
A massive crypto transfer from BlackRock's ETF wallets to Coinbase Prime set off alarm bells across crypto markets, but the real question is whether on-chain traders are misreading the signal entirely.
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Wallets tied to BlackRock’s (NYSE: BLK) spot ETFs moved 3,215 BTC, valued at $262.4 million, to Coinbase Prime, according to on-chain records from October 23, 2026. Coinbase Prime, Coinbase’s institutional trading desk (NASDAQ: COIN), also received another 38,882 ETH, worth $93.2 million, from those wallets. This brings the total transfer to about $355.6 million in just two hours.
The timing is concerning. On October 22, spot Bitcoin ETFs faced $635.6 million in net outflows, and Bitcoin (CRYPTO: BTC) dropped by 3.3% to $81,429. Crypto enthusiasts often interpret such large transfers to exchanges as a sign of significant selling ahead.
However, despite these transfers, Bitcoin trades at $81,858 as of October 23, up 0.3% over the past 24 hours, while Ethereum (CRYPTO: ETH) remains nearly unchanged near $2,408. This raises the question: does this transfer signal a fresh wave of selling, or is it just a paper trail for sales that already occurred?
What BlackRock’s $262 Million Coinbase Transfer Reveals
An on-chain transfer represents the movement of coins between two wallets, publicly recorded on the blockchain. Analytics firms label these wallets to help readers identify where the coins came from and where they’re going. A common trading principle is that when coins flow onto an exchange, traders can sell them, which can read as bearish. Conversely, coins moving off exchanges suggest long-term holding.
Coinbase Prime acts as a prime broker, holding, trading, and settling assets for major institutions through a single account. Because Coinbase is BlackRock’s primary custody and trading partner for its crypto funds, BlackRock moves coins between Coinbase-run wallets as standard fund-management practice.
Interestingly, this transfer aligns closely with an outflow from one of BlackRock’s funds. The $262.4 million in Bitcoin moved corresponds to the $254.1 million that exited the iShares Bitcoin Trust (NASDAQ: IBIT) on October 22, according to SoSoValue.
Why the Coinbase Prime Transfer Is Less Alarming Than It Looks
Most iShares Bitcoin Trust trades do not directly move Bitcoin. When an investor sells IBIT shares on the stock market, another investor buys them, and the fund’s coins remain intact. Coins transfer only when an Authorized Participant, such as a large bank or trading firm, redeems shares with the fund.
BlackRock’s iShares prospectus explains this clearly. In a redemption scenario, “an Authorized Participant deposits Creation Units with a Fund and receives from the Fund a redemption basket,” which can consist of assets or “a specified amount of cash.”
In a cash redemption, the fund sells Bitcoin to raise money through its prime broker, while in an in-kind redemption, the Authorized Participant receives the actual Bitcoin and may choose to hold, hedge, or sell them. In both instances, this recent transfer settles orders investors placed on October 22, already reflected in the published flow numbers. A trader interpreting the wallet movement as new selling could mistakenly count the same $254.1 million twice.
The Ethereum transfer follows the same logic, indicating redemptions from BlackRock’s Ethereum ETF, which is managed through the same account. Furthermore, the outflows are not solely attributable to BlackRock. The Fidelity Wise Origin Bitcoin Fund witnessed $217.5 million in outflows, the ARK 21Shares Bitcoin ETF had $109.4 million, and Grayscale’s and Bitwise’s funds saw outflows of $29.5 million and $27.4 million, respectively. However, BlackRock’s movements drew more attention because of greater scrutiny.
What Could Change the Direction of Bitcoin’s ETF Flows
Bitcoin’s price is closely linked with ETF flows, and October 22 marked a break in buying momentum. The funds had previously attracted $1.08 billion over the three preceding sessions, so after October 22’s outflow, they still brought in a net $442.7 million from October 19 to 22.
IBIT’s activity fueled much of this, drawing in $665.2 million on October 19 and $235 million on October 21. Overall, total net inflows across all spot Bitcoin ETFs stood at $57.32 billion as of October 22.
The funds have experienced other days of outflows this month that did not lead to a downward trend. On October 7, they posted $487.1 million in outflows, and on October 14, $261.5 million, but inflows followed both instances.
Bitcoin’s price has followed a similar pattern, down 0.3% over the past week, 3.7% over the month, and 7.2% year to date. Nevertheless, it remains up 26.3% over the past 90 days, suggesting buyers have maintained a rebound from summer lows. As of the morning of October 23, flow data had not yet been published, which could provide investors with clearer insights than any wallet alert.
Is More Bitcoin Selling Coming After BlackRock’s Transfer?
The transfer to Coinbase Prime appears to record transactions that have already occurred, closely matching the size of redemptions reported on October 22. This transfer alone does not suggest more sellers are queuing up, implying significant additional selling may not be on the horizon yet.
Two checks could change that view. Another outflow near October 22’s $635.6 million, or outflows that wipe out the $442.7 million net inflow from October 19 to 22, would point to wider selling. On price, a close below $81,429 would suggest buyers cannot absorb the redemptions, while a move above $84,378, its September 23 level, would show buyers back in control.
Contact [email protected] for any questions or corrections.
Coinbase umožňuje nástrojům AI, jako jsou ChatGPT, Claude a Grok, obchodovat jménem zákazníků; uživatelé mohou omezit přístup k portfoliím, kontrolovat příkazy a agenta kdykoli odpojit.
Coinbase now lets ChatGPT, Claude, and Grok place real trades in your crypto account, and the safeguards put most of the risk squarely on you. Here is what users and investors need to understand before connecting an AI to their…
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Coinbase (NASDAQ: COIN | COIN Price Prediction) recently announced that it now lets AI agents trade within customer accounts. On October 22, 2026, the company shared on X that “Coinbase is open for AI agents.” This new feature lets users connect AI tools like ChatGPT, Claude, Grok, and Muse to trade cryptocurrencies, stocks, and derivatives from a single conversation on its Everything Exchange.
Despite this exciting development, the market reaction was muted. COIN shares closed around $169, down 4.5% on October 22 after a 5% gain the previous day on news of new GENIUS Act regulations. Most of the decline occurred before the announcement near the end of the trading day. Shares were held at approximately $169 earlier.
Coinbase Users Can Start Using AI Agents Right Away
The new feature is live, and Coinbase lets users choose which portfolios the AI agent can access, preview orders before they execute, and disconnect the agent at any time.
The connection process utilizes Coinbase’s MCP server—short for model context protocol—a standard method for AI assistants to integrate with applications. For example, in ChatGPT, a user can add the URL agents.coinbase.com/mcp as a custom server, log in to Coinbase, and choose which portfolios the agent can access through an approval screen.
Coinbase has approved several AI assistants for this feature, including ChatGPT, Grok, Grok Bot, Muse, Perplexity Computer, Claude, Claude Code, and Codex CLI. A September 2026 update also added support for U.S. stocks and ETFs, as well as x402 payments, enabling agents to buy market data using a user’s USD Coin (CRYPTO: USDC) balance. However, Coinbase has not provided specific details on fees, user counts, or revenue goals for this feature.
AI Agents Could Lift Coinbase’s Trading Fees, but Not Yet
In the short term, the impact on Coinbase’s bottom line appears minimal. The company reported Q2 2026 revenue of $1.22 billion, down 18.5% from the previous year, along with a GAAP loss of $1.36 per share. Revenue from consumer transactions—essentially the fees paid by retail traders—fell 20% to $452 million.
During the July 30 earnings call, Coinbase CEO Brian Armstrong said agentic finance is still in its early stages and that the company doesn’t have specific forecasts to share. While increased trading by AI agents could raise consumer fees in the future, especially during a broader crypto rebound, Coinbase has not yet reported any revenue from these agents.
Coinbase’s Safeguards Still Leave Users With Most of the Risk
The biggest risk users face is misunderstanding the instructions. For instance, if a user requests “a little crypto,” the AI must interpret what “a little” means, leaving the user accountable for the trade. Another risk is prompt injection, where hidden text could mislead an agent into acting against the owner’s wishes. Additionally, rogue agent tools could compromise Coinbase logins, and overly broad permissions can exacerbate these vulnerabilities.
Coinbase advises users to create a separate portfolio for AI trading, fund it only with money they can afford to lose, and restrict the agent’s access to that account. This approach helps contain any potential losses. Unlike Telegram trading bots, Coinbase keeps funds in a regulated exchange account and offers order previews and an off switch for safety.
Furthermore, Armstrong has expressed confidence that agents will select reliable, safe, and compliant infrastructure, favoring Coinbase’s offerings. The platform reportedly handles more than 99% of stablecoin volume for agentic transactions on Base, its blockchain network, which reinforces its leading position.
Do Coinbase AI Agents Change Anything for COIN Holders? Currently, we believe the introduction of AI trading features won’t change much for COIN holders. While the new feature is beneficial and includes adequate safety measures, the market’s disinterest seems justified, especially since Coinbase hasn’t tied it to revenue. Users may mainly face risk from a bad trade or a compromised agent, but keeping a small, separate portfolio can limit losses.
The real cost for COIN shareholders may simply be the waiting game. Our perspective could shift if Coinbase’s Q3 2026 earnings report reveals meaningful data on agent trading volume or revenue. Until then, a rise back above $177—the October 21 closing price, about a 5% increase from current levels—could signal that investors are beginning to value this new feature.
Contact [email protected] for any questions or corrections.
Coinbase Global má za zářijové čtvrtletí vykázat ztrátu ve výši 0,18 USD na akcii a tržby 1,16 miliardy USD, což představuje meziroční pokles o 38,1 %.
Wall Street expects a year-over-year decline in earnings on lower revenues when Coinbase Global, Inc. (COIN - Free Report) reports results for the quarter ended September 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on October 29, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis company is expected to post quarterly loss of $0.18 per share in its upcoming report, which represents a year-over-year change of -112.5%.
Revenues are expected to be $1.16 billion, down 38.1% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 40.92% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Coinbase Global?For Coinbase Global, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +86.23%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that Coinbase Global will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Coinbase Global would post earnings of $0.14 per share when it actually produced a loss of -$0.39, delivering a surprise of -378.57%.
Over the last four quarters, the company has beaten consensus EPS estimates just once.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Coinbase Global appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected ResultsAnother stock from the Zacks Financial - Miscellaneous Services industry, Houlihan Lokey (HLI - Free Report) , is soon expected to post earnings of $1.58 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of -14.1%. Revenues for the quarter are expected to be $609.92 million, down 7.5% from the year-ago quarter.
The consensus EPS estimate for Houlihan Lokey has been revised 0.6% lower over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +2.89%.
This Earnings ESP, combined with its Zacks Rank #3 (Hold), suggests that Houlihan Lokey will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Coinbase shares have been cut nearly in half over the past year, yet one staggering market projection sits at the heart of the bull case and could justify a dramatic reversal if it plays out.
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Our 24/7 Wall St. price target for Coinbase (NASDAQ:COIN | COIN Price Prediction) is $228.27 over the next 12 months. From the current price of $169.27, that means 34.86% upside. Our model rates the stock a buy with moderate confidence.
24/7 Wall St. Price Target Summary Metric Value Current Price $169.27 Price Target from 24/7 Wall St. $228.27 Upside/Downside 34.86% Recommendation BUY Confidence Level 50% That target may look high for a stock with back-to-back GAAP losses. The bull case rests on one very big number: a stablecoin market that Coinbase expects to grow from $300B to $3T by 2030. Through USD Coin (CRYPTO:USDC) economics and its Base blockchain, Coinbase sits close to the center of that market.
A Steep One-Year Slide Meets Multi-Year-Low Volatility Shares fell 5.32% over the past week and 12.07% over the past month. They are down 24.47% year to date and 49.17% over one year, inside a 52-week range of $139.11 to $373.25.
Second-quarter revenue came in at $1.22B, down 18.5% year over year and short of the $1.29B consensus. EPS was -$1.36, missing the -$0.2278 estimate, as spot volume fell 25% from the prior quarter.
There were bright points, though. Trading market share reached an all-time high of 10.3%, and adjusted EBITDA of $207.8M was positive for the 14th consecutive quarter.
Why Bulls See $341 Ahead Our bull case reaches $341.59. Stablecoins do much of the work.
CEO Brian Armstrong said Base processed about “$32 trillion in the last 12 months of stablecoin transfer volume,” and average USDC held in Coinbase products hit $20B. Tokenized real-world assets, which Coinbase projects could grow to $16T by 2030, add a second path to growth.
Prediction markets topped $100M annualized, and Coinbase One “passed a million subscribers.” CFO Alesia Haas pointed out that subscriber growth happened “during a down market.” Among analysts, 4 rate the stock Strong Buy and 19 rate it Buy.
What Could Go Wrong for Coinbase Our bear case is $197.35, but a retest of the 52-week low is a real risk. Transaction revenue tracks volatility, and Q3 transaction revenue through July 26 was only about $130M. Rate cuts squeeze stablecoin income, and long-term debt has climbed to $7.2B.
One analyst rates the stock Sell and 1 rates it Strong Sell. There is a counterpoint: much of the Q1 loss came from $482.4M in losses on crypto held for investment, which were largely non-cash. Cash also stands at $8.61B.
Coinbase vs. Robinhood, Interactive Brokers and CME Group Company Forward P/E Quarterly Revenue Growth (YoY) Coinbase N/A -18.5% Robinhood 45x 32.3% Interactive Brokers 28x 13.5% CME Group 22x 0.8% Robinhood Markets (NASDAQ:HOOD) competes directly with Coinbase for retail crypto and stock investors. It is valued at $88.89B, compared with Coinbase’s $38.02B, which shows what the market pays for multi-asset growth.
Interactive Brokers (NASDAQ:IBKR) is a brokerage with steadier growth, and its 1.37 beta contrasts sharply with Coinbase’s.
CME Group (NASDAQ:CME) lists crypto futures, which makes it the benchmark for Coinbase’s derivatives ambitions through Deribit. CME earns a 63.4% profit margin. Next to these peers, our target looks reasonable if transaction revenue recovers.
BUY Rating Rests on Stablecoin Scale The 24/7 Wall St. price target of $228.27 carries a buy rating at 50% confidence. What tips the scale is subscription and services revenue, now 48% of net revenue.
I’d grow more constructive if crypto volatility comes back while USDC balances keep rising. I’d stay cautious if the next earnings report shows another quarter of shrinking transaction revenue. The stablecoin opportunity outweighs the cyclical risk overall.
Here is where our model projects Coinbase could trade if current growth trends and market conditions hold over the longer term.
Year Base Case Bull Case 2026 $179.50 $207.42 2027 $237.29 $333.50 2028 $285.68 $522.93 2029 $313.37 $687.60 2030 $394.06 $857.39 These projections hinge on Coinbase continuing to carry out its Everything Exchange strategy. Results could land well above or below these figures depending on stablecoin adoption, crypto volatility and the outcome of the Clarity Act.
Contact [email protected] for any questions or corrections.
Akcie Coinbase letos klesly o 23,5 % kvůli slabší obchodní aktivitě; obchodují se za 72,51násobek očekávaného zisku, zatímco průměr v odvětví činí 15,05násobek.
Key Takeaways Coinbase shares have dropped 23.5% YTD, lagging the industry's 14.3% gain amid weak trading activity.COIN trades at 72.51X forward earnings versus the industry's 15.05X, signaling a stretched valuation.Coinbase's expansion into stablecoins, tokenized assets and global markets offers growth opportunities.
Shares of Coinbase Global Inc. (COIN - Free Report) have lost 23.5% year to date against the industry’s increase of 14.3%. The sector has risen 3.4% and the Zacks S&P 500 composite has gained 13.9% in the said time frame.
The downfall likely reflects a crypto market slowdown, declining trading volumes and weaker-than-expected earnings. Concerns about continued quarterly losses and falling transaction revenues also resulted in the drop.
Coinbase, a leading player in the crypto space, is well-positioned to gain from expanding its range of listed digital assets and tokenized equities, along with its international growth and strategic acquisitions. The company has been actively pursuing initiatives that support CEO Brian Armstrong’s vision of transforming Coinbase into an “everything exchange,” delivering a comprehensive suite of digital financial services.
COIN vs Industry, Sector, S&P 500 in 3 Months
Image Source: Zacks Investment Research
Shares of crypto-oriented company, Robinhood Markets (HOOD - Free Report) , have lost 10.99%, while those of Interactive Brokers Group, Inc. (IBKR - Free Report) have gained 31% year to date.
Coinbase Shares Are ExpensiveCoinbase is trading at a premium to the Zacks Financial Transaction Service Market. Its 12-month forward price-to-earnings of 72.51X is much higher than the industry average of 15.05X.
Image Source: Zacks Investment Research
Its Value Score of F suggests that the stock is not so cheap and indicates a stretched valuation at this moment.
Coinbase’s leading market position, diversification into higher-margin and recurring revenue streams—including USDC and stablecoin-related income, Data Vantage market data, subscriptions, and custody services—combined with improving regulatory clarity in the United States, likely support its premium valuation.
Coinbase is more expensive than Robinhood Markets and Interactive Brokers Group.
Optimistic Analyst Sentiment for COINThe Zacks Consensus Estimate for 2026 is pegged at a loss of 50 cents per share, an improvement from a loss of 62 cents expected 30 days ago. The consensus estimate for 2027 earnings has moved 4.8% north in the past 30 days.
Image Source: Zacks Investment Research
Consensus estimates for Robinhood Markets and Interactive Brokers Group’s 2026 and 2027 EPS have moved north in the past 30 days.
Growth Projections for COINThe Zacks Consensus Estimate for 2026 revenues and EPS indicates a year-over-year decrease. However, the consensus estimate for 2027 revenues and EPS implies a year-over-year increase. Long-term earnings are expected to improve 10%.
The Case for CoinbaseCoinbase is pursuing its vision of becoming an “everything exchange,” offering 24/7 access to digital assets, equities, commodities and derivatives through a unified platform. Recent initiatives include launching regulated derivatives in Canada, expanding its Webull partnership to provide crypto trading and custody services, and partnering with Moov to deliver stablecoin payment and custody infrastructure to community banks and credit unions.
Prediction markets offer another growth avenue, broadening Coinbase’s addressable market and reducing reliance on traditional crypto trading. International expansion remains a priority, with operations across Australia, Brazil, India, Japan, Singapore, the United Kingdom, Switzerland and the European Union, helping diversify its geographic revenue base.
The company is also expanding its product portfolio through additional cryptocurrencies and tokenized assets. Its selection of Chainlink as the oracle infrastructure for tokenized equities could support broader blockchain applications. Meanwhile, its partnership with Better Mortgage introduced a nationwide conforming mortgage product backed by crypto assets. In 2026, management plans to focus on real-world-asset perpetuals, specialized exchanges, advanced trading tools, decentralized finance infrastructure and opportunities in artificial intelligence and robotics.
Coinbase benefits from strong liquidity and relatively modest leverage, providing financial flexibility to pursue growth initiatives. However, its performance remains sensitive to cryptocurrency price fluctuations, elevated operating expenses, impairment charges and restructuring costs during market downturns. Although the company continues to gain market share, weaker industry conditions have constrained earnings growth. In the latest reported quarter, revenues declined as softer retail trading activity reduced transaction income, while lower cryptocurrency prices weighed on platform assets and overall profitability.
What Should Investors’ Stance Be?Coinbase aims to expand the crypto ecosystem, grow its spot trading market share among retail and institutional investors, and strengthen its platform. Higher USDC balances and market capitalization, along with relatively stable crypto prices, could drive more consistent revenues.
However, its premium valuation, subdued market volatility, weaker digital asset prices, near-term earnings and revenue pressures, and below-average return on equity pose significant risks. Therefore, investors should maintain a cautious stance toward the stock, which carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Coinbase v posledním týdnu října 2026 zpřístupní USDC uživatelům aplikace Samsung Wallet v USA; subúschovu prostřednictvím Coinbase Prime zajistí vedle licencovaného infrastrukturního partnera Bastion.
Key Takeaways COIN will bring USDC to U.S. Samsung Wallet users in late October 2026, with Coinbase Prime.Average USDC balances in Coinbase products hit a record $20 billion in Q2 2026, up 44% year over year.Wider USDC adoption could boost COIN's custody and payments business, but earnings rely on sustained usage. Coinbase Global (COIN - Free Report) is expanding its stablecoin distribution through a partnership with Samsung, bringing USD Coin (USDC) to Samsung Wallet users in the United States. The service is expected to launch in the last week of October 2026, with USDC as the default dollar stablecoin. Coinbase will provide subcustody through Coinbase Prime, alongside licensed infrastructure partner Bastion.
Samsung’s broad consumer reach could help Coinbase introduce USDC to users beyond its existing crypto customer base. Integrating stablecoins into a familiar digital wallet could encourage adoption for payments and cross-border transfers, strengthening Coinbase’s position in the digital payments ecosystem.
The opportunity is supported by rising adoption. In the second quarter of 2026, average USDC balances held in Coinbase products reached a record $20 billion, up 44% year over year. More than 30% of circulating USDC was held in Coinbase products at quarter-end.
Wider adoption could create opportunities across custody, payments and other stablecoin-related services. It may also support activity on Base, Coinbase’s Layer-2 blockchain network, if users transact through services connected to the network.
However, greater adoption will not automatically translate into higher earnings. The financial impact will depend on customer activity, transaction volumes, operating costs and revenue-sharing arrangements. If the partnership generates sustained usage, it could broaden Coinbase’s distribution and support revenue diversification beyond trading fees.
What Are Competitors Doing?PayPal Holdings (PYPL - Free Report) is broadening the reach of its PYUSD stablecoin through its established consumer and merchant network. Wider availability could support cross-border transfers and digital payments, helping PayPal connect traditional payment services with blockchain-based transactions.
Circle Internet Group (CRCL - Free Report) is expanding USDC adoption through partnerships that integrate stablecoin payments into existing business systems. On Oct. 7, 2026, Circle announced a partnership with Tereina to integrate USDC and EURC into enterprise workflows, starting with the SAP ecosystem. Wider USDC integration across consumer wallets, including Samsung Wallet, could increase stablecoin adoption and strengthen demand for Circle’s ecosystem.
COIN’s Price PerformanceShares of COIN have lost 55.5% in the past year compared with the industry decline of 27.9%.
Image Source: Zacks Investment Research
COIN’s ValuationCOIN trades at a price-to-earnings ratio of 74.44, significantly above the industry average of 15.11.
Image Source: Zacks Investment Research
Estimate Movement for COINThe Zacks Consensus Estimate for COIN’s 2026 and 2027 earnings per share (EPS) witnessed upward movement in the last 30 days.
Image Source: Zacks Investment Research
The consensus estimate for COIN’s 2026 revenues and earnings indicates a year-over-year decrease. Meanwhile, the consensus estimate for 2027 revenues and earnings implies a year-over-year increase.
COIN stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Průměrný objem USDC v produktech Coinbase dosáhl ve 2. čtvrtletí 2026 rekordních 20 mld. USD, což představuje meziroční nárůst o 44 %; Coinbase držela více než 30 % USDC v oběhu.
Key Takeaways COIN held a record $20B in average USDC in Q2 2026, up 44% year over year, with over 30% of circulation.USDC can support recurring revenues tied to reserve economics as circulation and platform balances increase.Rising USDC use in payments, custody, lending and Base could reduce reliance on volatile transaction revenues. Coinbase Global (COIN - Free Report) is increasingly being valued as more than a crypto trading platform, with USDC emerging as a potentially important long-term growth engine. Unlike transaction revenues, which are highly sensitive to crypto trading volumes, USDC can generate a more recurring revenue stream tied to broader adoption of blockchain-based payments and digital-dollar usage.
Stablecoins remain central to Coinbase’s revenue mix and payments strategy. Average USDC held in Coinbase products reached a record $20 billion in the second quarter of 2026, up 44% year over year, while more than 30% of circulating USDC was held in Coinbase products at quarter-end. As Coinbase participates in the economics of USDC reserves, rising circulation and higher balances across its platform can support continued revenue growth.
USDC is also evolving beyond a trading asset into broader financial infrastructure. Growing adoption by businesses, institutions and consumers for payments, settlement and value transfers could expand Coinbase’s monetization opportunities across custody, payments, trading, lending and onchain applications. Rising stablecoin activity on Base, Coinbase’s Layer-2 network, further strengthens this opportunity.
Increased stablecoin adoption can deepen Coinbase’s ecosystem and generate activity across multiple products, helping reduce its historical reliance on volatile transaction revenues. If stablecoins become a mainstream settlement layer, Coinbase’s distribution, custody and Base infrastructure could position USDC as a core pillar of long-term growth and subscription and services revenues.
What About COIN’s Peers?Stablecoins, especially USDC, are also fundamental to Circle Internet Group’s (CRCL - Free Report) business strategy. As USDC’s issuer, Circle earns revenues through interest on reserves and transaction flows. Stablecoins also support Circle’s expansion into payments, DeFi and global finance, reinforcing its role as a core infrastructure provider in the digital asset ecosystem.
Stablecoins play a growing role in BlackRock Inc.’s (BLK - Free Report) digital strategy. Through its partnership with Circle, it manages USDC reserves, gaining direct exposure to stablecoin infrastructure. This supports BlackRock’s broader push to modernize finance by leveraging blockchain technology for tokenized assets, real-time settlements and more efficient capital markets.
COIN’s Price PerformanceShares of COIN have lost 21.2% in the year-to-date period, underperforming the industry.
Image Source: Zacks Investment Research
COIN’s Expensive ValuationCOIN trades at a price-to-earnings ratio of 81.08, significantly above the industry average of 15.45.
Image Source: Zacks Investment Research
Estimate Movement for COINThe Zacks Consensus Estimate for COIN’s third-quarter and fourth-quarter 2026 earnings per share (EPS) witnessed northbound movement in the last 30 days. The same holds true for 2026 and 2027.
Akcie společnosti Coinbase za poslední rok klesly o 51 %, zatímco Bitcoin oslabil o 30 %. Za pět let Bitcoin vzrostl přibližně o 67 %, kdežto akcie Coinbase ztratily 21 %.
Coinbase has long been pitched as the smart, stable way to ride crypto without holding it directly, but the numbers behind that pitch tell a very different story about which bet actually holds its value.
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Over the last year, Coinbase (NASDAQ: COIN | COIN Price Prediction) has seen its shares fall by 51%. In contrast, Bitcoin (CRYPTO: BTC) has fallen 30%. This difference prompts a deeper look into the Coinbase stock versus Bitcoin debate. Many investors often view Coinbase as a more stable option for gaining exposure to cryptocurrency, particularly for retirement accounts.
As of October 2, 2026, Coinbase shares were priced at $183, while Bitcoin was trading around $86,189 as of October 5. So which investment has proven better for owning crypto, and which is more suitable for long-term investing?
Coinbase Shares Lag Behind Bitcoin Over One Year and Five
The gap in performance is significant. Over the past year, Coinbase’s stock lost 51%, whereas Bitcoin declined by 30%. This means that an investor who put $10,000 into each a year ago would now have approximately $4,900 in Coinbase shares and about $7,000 in Bitcoin.
A longer timeframe reveals an even bleaker picture for Coinbase. Over the past five years, its shares have fallen 21%, and they have fallen 19% so far in 2026. Meanwhile, Bitcoin’s value rose from around $51,500 in early October 2021, up about 67%, even after a recent 32% drop from its peak of $126,080.
Short-term numbers align with this trend. Over the last month, Coinbase shares increased by 4.6%, while Bitcoin gained about 6%. However, over the past week, Coinbase stock fell 6.2%, including a 3.3% drop on October 2, while Bitcoin rose 3.6%.
Business Risks Make Coinbase Stock More Volatile Than Bitcoin
When you hold Bitcoin, you own a single asset whose price fluctuates. In contrast, owning Coinbase stock means you’re investing in a business. Coinbase’s revenue depends on how much customers trade—trading activity correlates with crypto price movements. Additionally, Coinbase faces various challenges such as operational costs, fierce competition, and regulatory scrutiny that Bitcoin does not.
These extra complexities help explain why Coinbase’s stock can decline more sharply. When cryptocurrency prices fall, trading activity typically declines, reducing Coinbase’s revenue. The stock may also suffer even if Bitcoin’s price is stable. Furthermore, neither Coinbase nor Bitcoin pays dividends, meaning they don’t generate regular income for investors.
That said, Coinbase can also benefit from conditions that Bitcoin cannot. During a strong crypto market rally, increased trading volume can boost Coinbase’s earnings significantly, sometimes leading its stock to rise faster than Bitcoin’s price.
Historically, one of the main benefits of investing in Coinbase was the convenience it offered. Investors could include its shares in an IRA or brokerage account, while owning Bitcoin directly required a self-custody wallet or a custodian service.
However, the introduction of spot Bitcoin ETFs has changed this landscape. These funds hold Bitcoin and trade like regular stocks, allowing retirement savers to gain exposure to Bitcoin within the same accounts that can hold Coinbase shares. Additionally, states such as Indiana are now adding crypto options to public retirement plans. In fact, Coinbase acts as a custodian for many of these funds, earning fees in both scenarios.
Is Coinbase Stock or Bitcoin the Better Way to Own Crypto? Given the current performance, Bitcoin appears to be the better option for owning cryptocurrency. It has lost less over the past year, has gained value over the last five years, and carries no associated business risks, while Coinbase stock has declined. For those investing in retirement accounts, a spot Bitcoin ETF now offers the benefits of Bitcoin without the custody complications that made Coinbase appealing in the past.
This conclusion challenges the perception that Coinbase is the safer investment route, as its stock has shown larger swings in value both up and down. The outcome could change if Coinbase outperforms Bitcoin during a future crypto market rally, potentially showcasing how the business can add returns beyond simply holding the coin. Until then, will the Coinbase stock versus Bitcoin conversation continue to favor Bitcoin?
Contact [email protected] for any questions or corrections.
Coinbase získala schválení CFTC pro Coinbase Clearing LLC, což jí umožní zúčtovávat plně zajištěné futures, opce na futures a swapy na vlastní platformě. Tím posiluje svou integrovanou americkou derivátovou infrastrukturu.
Key Takeaways Coinbase can now clear fully collateralized futures, options on futures and swaps through its own platform.Vertical integration may cut third-party reliance, simplify operations & speed up regulated product launches.Native USDC collateral and 24/7 settlement support Coinbase's institutional-grade derivatives ecosystem. Coinbase Global (COIN - Free Report) recently received CFTC Approval for Coinbase Clearing LLC. This marks an important step in the company’s efforts to build a fully integrated U.S. derivatives platform. The approval completes Coinbase’s domestic derivatives infrastructure stack, giving it control over an exchange, futures commission merchant and derivatives clearing organization. The development further supports Coinbase’s ambition to evolve into a broader “everything exchange” through continued product and infrastructure expansion.
The approval enables Coinbase Clearing to clear fully collateralized futures, options on futures and swaps. Coinbase has highlighted native USDC collateral and 24/7 settlement capabilities as key features of the platform.
Vertical integration should expand Coinbase’s addressable market while improving the economics and flexibility of its derivatives business. By controlling clearing alongside execution and brokerage, the company can reduce its dependence on third-party infrastructure, simplify operations and potentially accelerate the introduction of new regulated products. This becomes increasingly important as derivatives account for a larger share of crypto trading activity. Coinbase is expanding beyond its traditional role as a cryptocurrency exchange toward becoming a broader financial-market infrastructure provider.
The approval also strengthens Coinbase’s ability to develop an institutional-grade, regulated derivatives ecosystem. At the same time, the company will continue to rely on existing partners for certain offerings, including margined derivatives and its planned launch of single-stock perpetuals.
Overall, greater control over the derivatives value chain should provide Coinbase with additional avenues for product expansion, enhance operational flexibility and potentially improve the operating leverage of its derivatives franchise as crypto markets continue to mature.
What About Its Peers?Robinhood Markets (HOOD - Free Report) stays focused on accelerating growth through rapid product innovation and global expansion. Robinhood has been engaging in opportunistic acquisitions to deepen its footprint and expand its product reach within the United States and globally. Robinhood also noted that AI features and fast rollouts are increasing engagement, premium monetization and retention, while stronger tools attract both retail and advanced traders.
Interactive Brokers (IBKR - Free Report) continues to explore growth opportunities in the emerging markets of Taiwan, Mexico and India. Given the rapid growth of its European business, Interactive Brokers has substantially expanded its operations there. Interactive Brokers has been undertaking several measures to enhance its global presence.
COIN’s Price PerformanceShares of COIN have lost 17.6% in the year-to-date period, underperforming the industry.
Image Source: Zacks Investment Research
COIN’s Expensive ValuationCOIN trades at a price-to-earnings ratio of 86.71, significantly above the industry average of 14.76.
Image Source: Zacks Investment Research
Estimate Movement for COINThe Zacks Consensus Estimate for COIN’s third-quarter and fourth-quarter 2026 earnings per share (EPS) witnessed northbound movement in the last 30 days. The same holds true for 2026 and 2027.
Coinbase a Citi rozšiřují spolupráci: institucionální klienti Citi mohou přes Coinbase přijímat platby ve stablecoinech a Coinbase spouští nové fiat virtuální účty.
Coinbase's new virtual accounts run on Citi's banking-as-a-service platform Summary
Coinbase and Citi deepened their partnership, letting Citi's institutional merchants accept stablecoins at checkout and powering Coinbase's new fiat virtual accounts.
Coinbase Global COIN, the crypto exchange, said it has deepened its collaboration with Citigroup C on two fronts. Citi's institutional clients using Spring by Citi, the bank's payment acceptance platform, can now take stablecoin payments at checkout through Coinbase's payments infrastructure without holding stablecoins themselves. Coinbase converts the tokens into fiat, and Citi settles the funds as the bank of record. Coinbase shares were down 0.38% intraday, as of 10:30 a.m. ET.
The second piece runs the other way. Coinbase chose Citi's Virtual Account Wallet, part of the bank's banking-as-a-service offering, to power Coinbase Virtual Accounts. These give payments customers bank-account-like functionality to accept, hold and send funds, with incoming fiat converted automatically into stablecoins.
Coinbase said the services will launch first in the U.S., with more capabilities to follow in the coming months, and pitched the merchant side as reaching a market of more than 150 million stablecoin holders worldwide. Brett Tejpaul, head of Coinbase Institutional, said Citi is the kind of regulated banking partner the industry needs to move digital assets "from experimentation to everyday commerce."
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
Coinbase vytváří infrastrukturu pro AI agenty, kteří mají platit ve stablecoinech bez běžného účtu. Ve 2. čtvrtletí letošního roku přes 99 % onchain agentic commerce proběhlo v USDC.
The next customer that Coinbase Global, Inc. (NASDAQ:COIN) is preparing for may not be human. AI agents are increasingly being built to discover services, make decisions and transact without waiting for a person.
Coinbase CEO Brian Armstrong now sees stablecoins as a natural rail for this emerging machine economy, as the company builds payment infrastructure around that shift.
The company’s x402 payment protocol allows AI agents to pay for APIs, data, software and other services directly in stablecoins, without conventional checkout flows. Its Coinbase Business product now explicitly pitches businesses on getting paid by AI agents—with "No agent account needed."
Armstrong, responding to Coinbase Predict’s post highlighting BlackRock, Inc‘s (NYSE:BLK) view that AI agents could become a major source of stablecoin demand, reduced the thesis to three steps:
"The number of agents will keep growing" "The number of agents that need to transact then keeps growing" "Crypto and stablecoins will be their go-to payment rail" His conclusion was even shorter: "Yep."
The significance isn’t simply that Armstrong agrees with BlackRock. It is that Coinbase is already building the infrastructure for the behavior Armstrong is describing.
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Coinbase launched Coinbase for Agents in June, allowing AI agents to trade, pay and execute financial workflows within user-defined limits. The company has also integrated its x402 and wallet infrastructure with Amazon Web Services’ Bedrock AgentCore Payments, allowing agents to discover services and make micropayments in USDC.
The company is therefore approaching AI agents from both sides of the transaction. An agent can spend. Businesses can accept those payments.
That distinction matters because traditional online payments were designed around humans: accounts, cards, invoices, subscriptions and checkout screens. Coinbase’s newer infrastructure is designed around software that may need to make frequent, small payments automatically.
Coinbase said in its second-quarter results that more than 99% of onchain agentic commerce was completed using USDC, while more than 90% of agentic stablecoin transaction volume ran on Base.
The AI-to-Crypto Link Gets More InterestingFor investors, the bigger question is whether AI creates a new source of recurring transaction activity for Coinbase’s ecosystem.
That remains an emerging market rather than a proven mass-adoption trend. But the potential connection is unusually direct: more agents could mean more software purchasing data, computing resources and digital services, which could mean more machine-to-machine payments.
Armstrong’s three-part thesis captures the bet. More agents → more transactions → more demand for the rails that let software move money.
The next catalyst to watch is whether agentic payments move from experiments and infrastructure launches into meaningful commercial activity.
If they do, Coinbase would not simply be serving people using crypto. It could provide the financial plumbing for customers who never need to open an account in the first place.
COIN vzrostly o více než 4 % poté, co Coinbase oznámila, že vybraným americkým retailovým zákazníkům zpřístupní přes aplikaci IPO. První nabídka bude Oura.
Coinbase stock COIN rose more than 4% on Monday as Bitcoin climbed above $86,000 and the cryptocurrency exchange announced plans to give eligible US retail customers access to initial public offerings through its app.
Coinbase said its new IPO-access service will launch with smart-ring maker Oura’s offering this week.
Eligible customers will be able to request shares at the IPO offer price before the stock begins public trading.
The move expands Coinbase’s efforts to offer products beyond cryptocurrency and into traditional financial markets.
Coinbase said eligible customers will be able to access a new IPO section within its app, fund their accounts, and submit a conditional offer to buy shares once an expected price range becomes available.
Oura is seeking to sell 50 million shares at between $40 and $44 apiece, targeting a valuation of approximately $15.6 billion at the top of the range.
The company plans to list on the Nasdaq under the ticker OURA.
Allocations through Coinbase can be full, partial or none depending on demand.
Coinbase Capital Markets, the exchange’s FINRA-registered broker-dealer, will aggregate customer orders and route them through Apex Clearing Corporation.
Coinbase said it will act as an agent rather than underwrite offerings, hold inventory or take the opposite side of customer trades.
The company is also imposing restrictions on early selling.
Customers who sell IPO shares within 30 days may be barred from participating in IPOs for the following 60 days, while repeat early sellers could receive smaller and less frequent allocations.
The IPO service adds another element to Coinbase’s push to build what CEO Brian Armstrong has called an “Everything Exchange.”
The company said the feature gives US customers early access to companies before they begin trading on public exchanges.
Coinbase has also expanded into stocks, options and other traditional-market products, allowing US customers to transfer existing stock portfolios and trade major stocks, indexes and exchange-traded funds through its platform.
In June, Coinbase launched pre-IPO perpetual futures, beginning with SpaceX, for eligible non-US users.
Those products provide synthetic price exposure to private companies and do not represent ownership.
The latest IPO product differs because it involves securities offered through Coinbase Capital Markets, with Apex providing execution, clearing and custody services.
Coinbase also filed a notice registration form with the Securities and Exchange Commission earlier this month seeking approval to begin listing equity perpetuals.
Coinbase shares were trading more than 5.5% higher in midday trading, reaching an intraday high above $208.
The stock reached its highest level since May as cryptocurrency markets rallied.
Bitcoin rose more than 6.2% over the previous 24 hours, crossing $86,000 for the first time since January. It was trading around $86,060 at the time of writing.
Coinbase said it plans to offer additional IPO opportunities as selling-group allocations become available, although it has not disclosed which offerings will follow Oura.
Several prominent companies, including Anthropic, Stripe, Chime and Anduril, are expected or reported to be considering US IPOs later this year, but their timing remains subject to change.
Coinbase has not said whether it will participate in any of those offerings.
The Senate’s crypto market structure bill flatlined again last week. A cloture vote on the CLARITY Act failed 49-50, with Democrats citing unresolved ethics provisions tied to Trump’s crypto business interests and a handful of Republicans crossing over to sink it.
COIN stock is up today. See the real-time price action here. No Clarity YetThe bill needed 60 votes to advance and would have handed the CFTC primary authority over digital assets. Coinbase Global Inc. (NASDAQ:COIN) shares dipped on the news, the usual reflex whenever “regulatory clarity” stalls.
But the stock’s reflexive dip misreads what’s actually driving Coinbase’s numbers. The company spent over a year publicly pushing for this legislation, and even torched a January markup by pulling its support the night before the vote over stablecoin and DeFi language it didn’t like.
The lobbying was real, but it was aimed at 2027 and beyond. Even a passed bill would still need an estimated 45 separate agency rulemakings across the SEC, CFTC and Treasury before it changed how the business runs day to day.
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A dead cloture vote doesn’t erase revenue Coinbase is already collecting. It pushes the structural upside further out, roughly where most people already expected it to land.
Volume Pays the Bills NowThe current model is holding up fine without the bill. William Blair analysts Andrew Jeffrey and Adib Choudhury cut their 2026 revenue estimate for Coinbase, according to the Block, but see earnings troughing in the back half of the year before rebounding in 2027.
They expect total trading volume to fall roughly 44% this year before rebounding more than 32% in 2027, and they argue this cycle is structurally different from 2022. Spot Bitcoin ETFs now exist, institutional flows have deepened and the regulatory backdrop has already matured even without new legislation.
Put simply, Coinbase doesn’t need Congress to hand it a rulebook to keep monetizing volume and volatility. Retail derivatives revenue alone has already crossed $200 million annualized, and the same analysts point to prediction markets as further diversification beyond spot trading fees.
Short-term, Coinbase’s P&L runs on how much people trade and how wildly prices swing — both have kept the lights on through a choppy 2026 regardless of what the Senate does.
Long-term, an eventual CLARITY-style framework opens product lines Coinbase can’t fully build under today’s patchwork rules for tokenized securities and broader derivatives access.
The bill’s death last week doesn’t kill either story. It confirms the rulemaking dividend was never a 2026 catalyst to begin with.
COIN Stock Price Activity: Coinbase stock was up 5.08% at $204.12 at the time of publication Monday, according to data from Benzinga Pro.
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Millions of people collect stablecoin rewards without knowing who actually funds them, and the Senate's failure to pass landmark crypto legislation left that question more complicated than ever.
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Stablecoin rewards are payments for holding dollar-pegged tokens, similar to interest on savings accounts. These payments continued even after the CLARITY Act, which aimed to limit them, failed in the Senate on September 15, 2026.
The lack of a cap did not boost Coinbase (NASDAQ:COIN | COIN Price Prediction) or Circle Internet Group (NYSE:CRCL) stock. Millions of people collect these rewards without ever asking who funds them.
Who Actually Pays the Yield?
A balance of USD Coin (CRYPTO:USDC) held on Coinbase can grow by a few percent annually without a single trade. This growth comes from income earned on reserves held in US Treasury bills and repurchase agreements, which pay close to the Secured Overnight Financing Rate, the benchmark for what banks charge each other overnight for cash.
In Q2 2026, Circle reported an average USDC circulation of $76.5 billion, yielding $668 million in reserve income, a 5% year-over-year increase. Coinbase earned $292 million from stablecoins, about a quarter of its total revenue.
Four parties stand between the policy rate and a user’s balance. The Federal Reserve sets the target rate, which reached a 4.00% upper bound on September 16, and short-dated Treasury bills yield roughly 3.87% to 4.08%. Circle collects that as reserve income and shares it with Coinbase, which distributes a portion to users as rewards. Somebody is paying that yield, and it is not the exchange.
The float behind it shrank last quarter. USDC circulation fell from $77.0 billion in March to $73.3 billion in June, along with a decline in the reserve return rate. Higher policy rates lift that rate from here, and the most recently reported quarter was moving the other way.
Why Banks Wanted Stablecoin Rewards Banned
Banks worry that interest-bearing stablecoins compete with no-interest checking accounts, potentially redirecting deposits that could support loans to exchanges. This has led to the GENIUS Act, effective January 2027, which prohibits stablecoin issuers from paying interest.
The CLARITY Act sought to balance the issue by banning issuer-paid interest that mimics bank deposits while allowing rewards based on trading and other activities. That compromise, negotiated with the White House and Senators Thom Tillis and Angela Alsobrooks, helped advance the bill, and Coinbase CEO Brian Armstrong argued at Davos that Americans should be able to earn more money on their money.
The American Bankers Association rejected the text, writing to Senate leadership in late July. Bank of America’s Ebrahim Poonawala called the resolution a net positive for banks that should alleviate deposit-flight concerns. The compromise died along with the broader legislation.
Why Coinbase and Circle Fell
Markets had been concerned that the CLARITY Act would limit rewards for stablecoin issuers. When the Senate failed to advance the bill, neither Circle nor Coinbase saw a relief rally. Circle ended the week of September 17 down 5.79%, while Coinbase gained only 0.98%, even after both stocks rebounded on Federal Reserve decision day.
Date Event CRCL COIN September 15 Senate fails to advance the CLARITY Act -5.79% on the week +0.98% on the week September 16 Federal Reserve raises its target to a 4.00% upper bound +5.76% on the session +5.75% on the session A higher Federal Reserve target increases reserve income from the USDC float, which is beneficial. However, rising rates generally reduce risk appetite in spot crypto trading, a significant revenue source for Coinbase.
The subscription and services segment, which houses the stablecoin line, was 48% of Coinbase’s second-quarter revenue. Trading fees carried the other half, and that half moves with volumes that shrink when yields climb.
Circle has seen improvements in its reserve-yield exposure but faces competition under the GENIUS Act. Morgan Stanley downgraded Circle from Equal Weight to Underweight on August 3, while Coinbase is impacted by both factors, meaning a legislative reprieve did not significantly boost its price.
Are Stablecoin Rewards Safe Now? With yield limits eliminated, rewards will continue for now. Circle’s $668 million in quarterly reserve income shows that the issuer side remains secure. The concern is the pass-through to Coinbase’s balance, which remains intact until Congress revisits the topic.
However, threats remain. The GENIUS Act’s ban on issuer-paid interest takes effect in January 2027, and the OCC and FDIC could presume a violation where an issuer pays an affiliate that in turn pays holders, as noted by StoneX. The American Bankers Association continues to lobby against these rewards, so the reward keeps arriving, the Federal Reserve keeps funding it, and a room full of bank lobbyists is still working to shut it off.
Contact [email protected] for any questions or corrections.
Coinbase Global Inc. (NASDAQ:COIN) v pátek vyskočila o 12,16 % na 195,12 USD, protože CFTC navrhla nová pravidla pro kryptoaktiva a trhy. Bitcoin také roste.
Coinbase Global Inc. (NASDAQ:COIN) shares are surging Friday along with other crypto-linked stocks as Bitcoin (CRYPTO: BTC) rises following a CFTC proposal this week to regulate crypto asset transactions and markets.
Coinbase Global stock is among today’s top performers. Why are COIN shares rallying? SEC Creates a Framework for Tokenized Stock TradingThe SEC introduced a five-year pilot program allowing qualified trading platforms to offer blockchain versions of U.S.-listed equities, with a catch: those tokenized shares have to carry the same dividend payments and voting rights as ordinary shares, and trading has to freeze whenever the actual stock’s exchange pauses activity.
Robinhood has positioned itself well ahead of this shift, having already run a similar model overseas. CEO Vlad Tenev has noted the company offers around 200 tokenized versions of U.S. stocks to customers in more than 120 countries internationally, though that access still isn’t extended to American users.
The SEC’s new pilot program could eventually give Robinhood room to bring that international offering stateside, though the rules governing it remain both temporary and narrowly defined for now.
CFTC Loosens Requirements for Prediction Market PlatformsAt the same time, the CFTC gave the green light this week to a category of technology providers it labels “passive software,” letting them connect users to CFTC-regulated products, including prediction markets, without having to register as brokers themselves, so long as they stay out of handling customer funds and don’t influence how trades get carried out.
The framework mirrors an approach already in use at crypto wallet Phantom, where more than 20 million users can already access similar prediction market features, and it remains valid only until the agency puts permanent rules in place.
Regulators Move Forward After Congress Stalls On CLARITY ActBoth regulatory actions land just after Congress hit a wall on crypto legislation, with the CLARITY Act coming up 11 votes shy of the 60 required to move forward this week. Wyoming Sen. Cynthia Lummis, who had pushed hardest for the bill’s passage, signaled that effort was essentially dead.
With Capitol Hill unable to pass comprehensive crypto rules, the CFTC and SEC appear to be filling that vacuum on their own, moving forward with regulatory action independent of congressional gridlock.
COIN Shares Are FlyingCOIN Price Action: Coinbase shares were up 12.16% at $195.12 at the time of publication on Friday, according to Benzinga Pro.
Coinbase just delivered one of its ugliest quarterly reports in years, yet a quiet transformation happening beneath the surface could make the spot trading slump largely irrelevant to its future.
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Coinbase (NASDAQ:COIN | COIN Price Prediction) has become a stock of two stories. One is the near-term problem: spot crypto volumes have cratered, Bitcoin (CRYPTO:BTC) sits well below its cycle peak, and the Q2 2026 earnings report was ugly.
The other is the bigger opportunity: stablecoins, derivatives, prediction markets, and Base are building a business that no longer needs Bitcoin to work. Our 24/7 Wall St. price target reflects both.
24/7 Wall St. Price Target Summary Metric Value Current Price $172.11 24/7 Wall St. Price Target $212.94 Upside 23.73% Recommendation BUY Confidence Level 50% Our 24/7 Wall St. price target for Coinbase is $212.94 over the next 12 months, with a moderate confidence level. The rating is a buy, driven by a diversifying revenue base that our model believes the market is underpricing after a brutal de-rating.
A Bitcoin Hangover Meets a Base Rally Coinbase has been through the wringer. Shares are down 47.37% over the past year and 23.89% year to date, though the last month brought a 15.92% bounce. The 52-week range runs from $139.11 to $402.16.
Q2 2026 revenue of $1.22 billion fell 18.5% year over year and missed consensus by 5.36%, with GAAP EPS of -$1.36. The driver was blunt: total crypto spot trading volume fell 25% quarter over quarter as volatility hit multi-year lows. Morningstar recently raised its fair value estimate on higher crypto prices, while a stalled Senate crypto bill dented sentiment this week.
Why Bulls See $360-Plus The bull case rests on the “Everything Exchange.” On the Q2 call, CEO Brian Armstrong said, “We’re diversifying revenue both on the trading fee side and on subscription and services with non-trading fees.”
Prediction markets already exceed $100 million in annualized revenue, average USDC held on platform hit an all-time high of $20 billion, and Base has processed roughly $32 trillion in trailing 12-month stablecoin transfer volume.
Management pegs the stablecoin market at $300 billion today, headed toward $3 trillion by 2030. Our bull scenario points to $361.40, a 110% return if Bitcoin re-accelerates and Deribit derivatives compound.
Risks Worth Watching The bear case is straightforward. Consumer transaction revenue fell 20% YoY in Q2 and institutional dropped 26%. Assets on Platform dropped to $246 billion from $294 billion. The FY2026 EPS estimate has collapsed from $0.8953 ninety days ago to -$1.9697 today, with 13 downward revisions in the past 30 days.
Counterpoint: Q2 adjusted EBITDA was still positive at $207.8 million (14 consecutive quarters), and management is taking $600 million of costs out versus the 2025 exit run rate. Our bear scenario lands at $186.62, still above today’s price.
How Coinbase Compares to Robinhood and CME Robinhood (NASDAQ:HOOD) is the sharpest comp on retail crypto and prediction markets. Q2 2026 revenue climbed 32% YoY to $1.31 billion, with event contracts revenue up more than tenfold to $156 million.
HOOD’s $87 billion market cap exceeds Coinbase’s $38 billion, despite smaller crypto exposure. That gap says the market is paying up for diversified retail flow, which is exactly where Coinbase is heading.
CME Group (NASDAQ:CME) is the regulated-derivatives yardstick. Q2 2026 revenue was $1.71 billion with adjusted EPS of $2.99, and CME is rolling out 24/7 crypto trading and prediction markets.
At a $99 billion market cap, CME trades at a premium multiple reflecting stable fee economics. That contrast makes our $212.94 target look reasonable.
Diversification Is the Real Story The 24/7 Wall St. price target of $212.94 implies a 23.73% one-year return, a buy at 50% confidence.
The tipping factor is subscription and services, which reached 48% of net revenue in Q2. The bull thesis strengthens if USDC balances and prediction-market revenue continue doubling. The setup weakens if Bitcoin breaks below $70,000 and drags spot volumes lower.
Year 24/7 Wall St. Price Target 2026 $181 2027 $211 2028 $240 2029 $263 2030 $288 These projections assume Coinbase continues executing the Everything Exchange strategy. Meaningful upside or downside could come from a regulated stablecoin boom, agentic-finance adoption on Base, or a prolonged spot-trading winter.
Contact [email protected] for any questions or corrections.
BTIG uvedla, že institucionální segment Coinbase tvoří asi 20 % celkových tržeb a je stále důležitějším tahounem růstu. Analytik Andrew Harte zopakoval doporučení Buy a cílovou cenu 240 USD.
A meeting with Coinbase Global Inc (NASDAQ:COIN) Institutional co-CEO Brett Tejpaul highlighted the contribution of this segment, which is likely underappreciated by investors, according to BTIG.
• Coinbase Global shares are sliding. What’s behind COIN decline?
The Coinbase Global Analyst: Analyst Andrew Harte reaffirmed a Buy rating and price target of $240.
The Coinbase Global Thesis: "The institutional business is an increasingly important contributor to Coinbase’s growth," Harte said in the note.
Check out other analyst stock ratings.
He added that this division:
Serves a wide range of asset managers, banks, retailers, ETF providers and exchange providers. Accounts for around 20% of total revenue. Is becoming far more robust than simply offering crypto trading capabilities. The analyst noted that Tejpaul aims to develop the institutional business through three phases:
Phase 1 – Building a core institutional crypto platform.
Phase 2 – It is now a key focus and entails extending the infrastructure into payments and stablecoins.
Phase 3 – This is the longer-term vision of expanding the business into tokenized assets and continuous markets over time.
Crypto-As-A-Service: Harte further stated that Phase 2 of extending the institutional infrastructure into payments is gaining traction. "Coinbase now has more than 200 institutional clients who pay for access to its technology stack via the Coinbase Developer Platform," which is being called crypto-as-a-service, the analyst wrote.
These institutional clients differ from the traditional investment firms that Coinbase Global has served, Herte said. They include fintechs, global banks and payments platforms, he added.
The analyst further mentioned that Tejpaul highlighted the following:
Five of the world’s Global Systemically Important Banks (GSIBs) have onboarded with Coinbase infrastructure.The institutional payments opportunity was opened by GENIUS, which triggered a surge in demand from corporations and enterprises seeking stablecoin payment capabilities.Nonbank payment providers are approaching a "strategic inflection point," and some believe blockchain adoption is important to remain competitive.Large U.S. corporations are revisiting crypto payments.The partnership with Amazon.com Inc (NASDAQ:AMZN) serves as "a significant proof point for Phase 2."Coinbase is positioning USDC, Base, and x402 as the full stack for agentic payments.COIN Price Action: Shares of Coinbase Global had declined by 3.04% to $166.88 at the time of publication on Wednesday.
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Akcie Coinbase Global ve středu stagnují po úterním propadu o 10 % poté, co Senát nepostoupil návrh Digital Asset Market Clarity Act. Nejasnosti kolem regulace digitálních aktiv tak zůstávají.
Shares of Coinbase Global Inc. (NASDAQ:COIN) are trading flat Wednesday morning following a 10% decline on Tuesday, triggered by the U.S. Senate’s failure to advance the Digital Asset Market Clarity Act.
Investors are pausing to digest the long-term regulatory implications of the legislative roadblock alongside macro caution ahead of the Federal Reserve’s interest rate decision later today.
Coinbase Global stock is showing volatility. What’s the outlook for COIN shares? Senate Procedural Defeat Leaves SEC and CFTC Regulatory Jurisdiction UnresolvedThe legislative setback occurred on Tuesday when a procedural cloture motion failed on a 49–50 vote, falling well short of the 60-vote threshold required to bring the CLARITY Act to a full floor debate. The bipartisan legislation aimed to establish a federal market structure for digital assets by formally dividing oversight responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Its failure leaves digital asset operators without a statutory framework, reverting market oversight to agency-level rulemaking and legal enforcement. The procedural defeat came despite active corporate lobbying; Coinbase Chief Executive Officer Brian Armstrong had publicly endorsed the bill, noting that key industry concerns had been resolved and predicting that statutory clarity would accelerate institutional adoption.
Following Tuesday’s vote, Armstrong described the outcome as disappointing but insisted that regulatory advancement would move forward through existing regulatory channels, stating: "The SEC and CFTC have the tools they need to create clear rules under existing authority, and I expect they will begin working on this in earnest. So, clarity is coming to crypto regardless."
COIN Shares Pause Wednesday MorningCOIN Price Action: Coinbase Global shares were trading at $171.45 at the time of publication on Wednesday, according to Benzinga Pro data.
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Coinbase tvrdí, že jeho tokenizované akcie nastavují standard: jsou plně kryté podkladovými akciemi a zahrnují dividendy i hlasovací práva. Nasdaq mezitím rozšiřuje partnerství s Payward a do vývoje Nasdaq Equity Tokens vkládá 100 milionů dolarů; spuštění je plánováno na 2. čtvrtletí 2027.
Coinbase Global, Inc. (NASDAQ:COIN) has set a new standard for tokenized stocks: real securities, fully backed by underlying shares, with dividends and voting rights built into the model.
But Nasdaq, Inc. (NASDAQ:NDAQ) is putting $100 million behind Kraken’s parent company, Payward, as Wall Street moves to build its own rails for the same onchain future.
Coinbase Wants the StandardCoinbase CEO Brian Armstrong says the company’s tokenized stocks give eligible non-U.S. investors 24/7 access to U.S. equities through blockchain-based tokens, with each token backed 1:1 by an underlying share held in regulated custody.
The bigger opportunity, however, may be the infrastructure that makes those assets tradable, programmable and usable across digital markets.
Armstrong argues Coinbase’s approach is not simply creating a token that tracks a stock’s price. Its tokens represent a beneficial claim on real shares held in bankruptcy-remote custody, while dividends and stock splits are reflected onchain. The company designed the assets to work across the Base ecosystem, where they can be traded, lent and used as collateral around the clock.
That distinction matters because tokenized equities currently span very different structures. Some provide a legal claim on an underlying security, while synthetic or derivative products can provide price exposure without ownership or governance rights.
Coinbase is effectively betting that investors will eventually demand the former.
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Nasdaq Wants the RailsNasdaq, meanwhile, is betting on Payward, expanding a partnership to develop Nasdaq Equity Tokens. It expects those tokens to launch in the second quarter of 2027.
While Nasdaq brings a regulated market infrastructure, Payward brings Kraken’s crypto-native trading platform and xStocks infrastructure. The companies say they want tokenized equities to move across market environments while preserving ownership rights, transparency and governance.
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That makes the Coinbase-Nasdaq rivalry bigger than a fight over who gets to sell tokenized versions of Nvidia Corp (NASDAQ:NVDA) or Apple Inc (NASDAQ:AAPL).
The Real Prize Is Wall Street’s PlumbingTokenized equities remain tiny—Reuters estimates the market at $3 billion with under $30 billion in monthly volume—making the infrastructure race crucial.
While Coinbase integrates tokenized stocks into DeFi using Chainlink pricing oracles on Base, Nasdaq aims to connect blockchain assets directly to TradFi.
The ultimate winner won’t just list tokens; it will own the bridge connecting traditional securities to an always-on financial system.
Why it MattersThe key signal for investors is clear: tokenization is shifting from a crypto novelty into a high-stakes infrastructure battle. Coinbase is betting on native DeFi integration, while Nasdaq relies on traditional Wall Street credibility.
Real scale won’t happen overnight. Watch for regulatory clarity, investor adoption and—crucially—whether public companies begin issuing tokenized shares with full voting and corporate rights.
Coinbase Global Inc. (NASDAQ:COIN) shares are trading higher Monday after Senate Republicans released a revised draft of the CLARITY Act ahead of Tuesday’s procedural vote, boosting odds the crypto market-structure bill advances.
Coinbase Global stock is among today’s top performers. What’s driving COIN stock higher? Revised CLARITY Act Draft Lifts Odds of Senate PassageTuesday afternoon brings a critical test for the CLARITY Act, with lawmakers needing 60 votes at 2:15 p.m. ET just to clear the procedural hurdle that would let the crypto market-structure bill move into formal debate and amendments.
Former Democratic Rep. Tim Ryan, who co-chairs the Blockchain Innovation Project and sits on Coinbase’s Global Advisory Council, told Benzinga “I think we can get there,” citing two Democratic senators who crossed party lines to help the bill clear committee back in May as a sign others might follow.
Ryan said resistance to the bill also comes from entrenched financial interests wary of new competition, pointing to lobbying from both banks and crypto groups over how stablecoin rewards could pull deposits from community lenders, an issue directly relevant to Coinbase given its central role in that debate and the roughly $20 billion in average USDC held on its platform last quarter, over 30% of all USDC in circulation.
Not everyone in the Democratic caucus is on board, though. Senate Democrats issued a joint statement arguing the current text still doesn’t go far enough on ethics safeguards, consumer protections, illicit finance rules and conflict-of-interest provisions.
Compass Point Upgrades Coinbase, Citing Bitcoin RecoveryAdding to the bullish backdrop, Compass Point analyst Ed Engel upgraded Coinbase to Neutral from Sell and raised the price target to $177 from $130.
Engel pointed to growing signs that Bitcoin (CRYPTO: BTC) has turned the corner off a cyclical low point, noting the current cycle is unfolding in line with the roughly four-year pattern the asset has followed in the past. He cited the record $3 billion wipeout of short positions on Aug. 19, the largest such liquidation bitcoin has ever seen, along with bitcoin’s climb past the $67,000 level that marks the average cost basis for short-term holders, a move that’s pushed 65% of those holders into profitable territory.
Engel said he continues to view rising competition as a lasting drag on what Coinbase can charge and how much it can keep as profit, yet found it tough to stay bearish on the company’s earnings trajectory given his belief that retail trading activity, a metric that tends to trail behind price action in crypto cycles, should pick back up if the broader market keeps rallying. That view underpins his new $177 target, which he calculated by applying 28 times multiple to his estimate of the company’s earnings at the midpoint of its cycle.
COIN Shares Are SurgingCOIN Price Action: Coinbase shares were up 9.24% at $191.46 at the time of publication on Monday, according to Benzinga Pro.
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Coinbase se spojila s Moov, aby komunitním bankám a úvěrovým družstvům nabídla úschovu stablecoinů, platby a vypořádání. Tím rozšiřuje využití USDC mimo uživatele kryptoměn do běžného bankovnictví.
Key Takeaways Coinbase and Moov will embed stablecoin custody, payments and settlement into community banking workflows.Coinbase supplies crypto infrastructure while Moov provides payments and banking integration for institutions.Coinbase sees stablecoins, especially USDC, as core to its shift toward payments and financial infrastructure. Coinbase Global (COIN - Free Report) has partnered with Moov to bring stablecoin payments and custody infrastructure to community banks and credit unions — a move that meaningfully extends crypto's reach beyond digitally native users into the mainstream banking system.
Community banks and credit unions hold substantial deposits and maintain close relationships with consumers and small businesses, but typically lack the resources to build digital-asset infrastructure on their own. This partnership addresses that gap. Coinbase supplies the underlying crypto infrastructure, Moov contributes the payments and banking integration layer, and financial institutions bring their established customer trust — together embedding stablecoin custody, payments and settlement directly into existing banking workflows.
The deal reinforces Coinbase's broader strategy of placing stablecoins, especially USDC, at the core of its evolution from a crypto trading exchange into a global payments and financial infrastructure provider. For Coinbase, the benefits go beyond transaction fees. Custody and payments capabilities can deepen institutional relationships, generate recurring infrastructure revenues and establish the company as a foundational "picks and shovels" player in the stablecoin economy. As regulatory clarity improves and adoption grows, Coinbase stands to benefit from operating leverage, since once the infrastructure is in place, additional transaction volume can flow through at attractive margins.
Ultimately, this partnership strengthens the narrative of Coinbase transforming into a broader financial infrastructure platform. If stablecoins evolve into a mainstream settlement and payments layer, Coinbase's capacity to distribute that infrastructure through thousands of trusted community financial institutions could emerge as a significant long-term growth driver.
What About COIN’s Peers?Stablecoins, especially USDC, are also fundamental to Circle Internet Group’s (CRCL - Free Report) business strategy. As USDC’s issuer, Circle earns revenues through interest on reserves and transaction flows. Stablecoins also support Circle’s expansion into payments, DeFi, and global finance, reinforcing its role as a core infrastructure provider in the digital asset ecosystem.
Stablecoins play a growing role in BlackRock Inc.’s (BLK - Free Report) digital strategy. Through its partnership with Circle, it manages USDC reserves, gaining direct exposure to stablecoin infrastructure. This supports BlackRock’s broader push to modernize finance by leveraging blockchain technology for tokenized assets, real-time settlements and more efficient capital markets.
COIN’s Price PerformanceShares of COIN have lost 22.5% in the year-to-date period, underperforming the industry.
Image Source: Zacks Investment Research
COIN’s Expensive ValuationCOIN trades at a price-to-earnings ratio of 82.52, significantly above the industry average of 16.24.
Image Source: Zacks Investment Research
Estimate Movement for COINThe Zacks Consensus Estimate for COIN’s third-quarter and fourth-quarter 2026 earnings per share (EPS) witnessed northbound movement in the last 30 days. The same holds true for 2026 and 2027.
Coinbase vzrostla o 6 % po zvýšení doporučení od Compass Point na Neutral ze Sell před hlasováním Senátu o zákonu Clarity Act. Strategy přidává 3 %, zatímco MARA po snížení ratingu od JPMorgan klesá o 2 %.
A Senate floor vote on crypto market-structure legislation is splitting the sector in real time, lifting some names while a JPMorgan downgrade punishes a miner that Bitcoin's rally cannot save.
Coinbase Global (NASDAQ:COIN | COIN Price Prediction) shares are up 6% to $185.34 Monday morning after Compass Point analyst Ed Engel upgraded the exchange operator to Neutral from Sell ahead of a scheduled Senate floor vote on crypto market-structure legislation. The bounce for Coinbase stock trims an 18% year-to-date decline that had made the exchange one of the sector’s most bruised names heading into this week.
Strategy (NASDAQ:MSTR) stock is rising 3% to $135.20, riding sympathy from the underlying asset it holds on its balance sheet. Meanwhile, MARA (NASDAQ:MARA) stock is sliding 2% to $11.69 on a separate JPMorgan rating cut, a notable divergence from the rest of the crypto-linked complex today.
Bitcoin (CRYPTO:BTC) is the asset doing the lifting, and passive vehicles are following it higher. The iShares Bitcoin Trust ETF (NASDAQ:IBIT) is up 1%, while the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is down 0.8%, a split showing this corner of the market is trading on its own catalyst rather than the AI-led selling weighing on the broader index. Crypto-linked equities are running on regulatory and analyst signals today, not the same macro currents pulling large-cap tech lower.
Compass Point Upgrade Meets Clarity Act Optimism Engel lifted his price target on Coinbase to $177 alongside the rating change, citing a Bitcoin rebound and the Senate’s upcoming floor vote on the Digital Asset Market Clarity Act (Clarity Act). He argued that Bitcoin has traditionally traded in four-year cycles, that the current one is tracking close to those long-run patterns, and that rising expectations of a recovery from the bottom drove the upgrade of Coinbase.
The Senate is scheduled to vote on the Clarity Act this week, in what’s expected to be the last vote on the legislation before the November midterm elections. It would establish a new regulatory structure for digital assets, and it cleared the Senate Banking Committee in May before stalling. Crypto companies back the measure, U.S. banks have lobbied against it over stablecoin interest payments, and Senate Democrats say they can’t support it without ethics provisions barring officials from profiting from crypto ventures.
Miner Divergence on a JPMorgan Downgrade MARA is moving the other way on news of its own. JPMorgan cut the miner to Underweight from Neutral and lowered its price target to $11, close to where MARA stock is trading. The bank cited MARA’s capital-light joint venture with Starwood Digital Ventures, under which MARA contributes powered land sites while Starwood handles design, development, tenant sourcing, and operations.
That structure leaves MARA with half the value the venture creates, which is why a firmer Bitcoin price isn’t rescuing the miner today. MARA stock is still up 30% year to date even after today’s slip, so a bank note challenging the economics of its most-hyped pivot lands on a name that had already run. The stock is trading close to the $11 target, meaning the downgrade doesn’t demand another leg lower so much as it caps upside from here, according to JPMorgan.
What to Watch The split here is between exchange and balance-sheet exposure to Bitcoin on one side and mining economics on the other. Coinbase and Strategy rise with the coin’s price fairly directly, while MARA’s problem is the structure of a joint venture and what a bank thinks that arrangement is worth, which a firmer Bitcoin price does not fix. The year-to-date figures invert the day’s move as well, with MARA still up on the year while falling today and Coinbase down on the year while leading the group higher.
For Coinbase, the bull case is that a Senate vote this week could settle the market-structure question the sector has waited years on, and the analyst behind the upgrade argues tokenized equities arrive next year regardless of the outcome. Yet, the bear case for Coinbase is that Engel expects the vote to fail and set a $177 target the stock has already traded through, so the straightforward part of this repricing may be finished at current levels.
The Senate vote is the next scheduled event for Coinbase, and President Donald Trump has publicly called on the Senate to pass the bill, adding a political element on top of the analyst call. Investors may want to keep an eye on whether Coinbase holds above the Compass Point $177 target into the close, with position sizing in their exposure reflecting the binary nature of the week’s catalyst.
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Coinbase rozšiřuje svou strategii na „Everything Exchange“ a cílí na deriváty, predikční trhy, stablecoiny a platby. Alesia Haas uvedla, že firma už působí ve čtyřech obchodních vertikálách.
Strategic Strike: Strategy Deploys $370M to Fortify BitcoinCoinbase Global NASDAQ: COIN is expanding beyond its origins as a spot cryptocurrency trading platform, with Chief Financial Officer Alesia Haas outlining a strategy centered on an “Everything Exchange,” stablecoins, payments and on-chain infrastructure during a Citi Research conference discussion.
Haas said the company’s addressable market has broadened materially over the past 12 to 18 months. Coinbase now operates across spot crypto, derivatives, traditional equities, tokenized equities for non-U.S. customers and prediction markets, she said. Its derivatives business includes crypto contracts as well as contracts tied to commodities and metals.
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Blueprint for a Boom: SEC Clears the Crypto Runway“What has gone from being… a single-product spot crypto trading platform, has meaningfully expanded out to four trading verticals,” Haas said. She added that the broader product set could diversify revenue and create additional growth opportunities as customers trade more assets on one platform.
Focus on Derivatives, Prediction Markets and USDC Haas said Coinbase’s publicly stated priorities this year are expanding the Everything Exchange and growing stablecoin- and payments-related businesses. Within the exchange strategy, she highlighted derivatives and prediction markets as products requiring the most scaling and showing the strongest new product-market fit.
Japan’s Crypto Overhaul Could Open the Door to a Wave of Institutional MoneyPrediction markets, a product Haas described as approximately six months old, have gained traction as Coinbase adds contract types such as crypto binaries and Combos. She said crypto binary contracts allow users to express a view on short-term crypto price movements without committing the capital required to buy or trade the underlying asset directly.
According to Haas, prediction-market activity so far has come from existing Coinbase users rather than paid acquisition efforts. The company has not yet used the product as a growth-marketing channel because it is still focused on strengthening and scaling the offering. She also said Coinbase has not seen cannibalization of its other products, describing prediction-market revenue to date as incremental.
Coinbase One, the company’s paid membership program, exceeded 1 million subscribers during the second quarter, Haas said. She characterized the milestone as notable because it occurred against a backdrop of weaker crypto markets. The membership currently provides benefits largely tied to spot crypto trading, but Haas said Coinbase sees opportunities to expand benefits into derivatives, prediction markets and adjacent services. She also cited the Coinbase card and USDC rewards as valuable parts of the membership offering.
Disclosure Changes and Expense Discipline Haas said Coinbase has begun adjusting its disclosures as revenue becomes more diversified. In its second-quarter earnings presentation, the company began separating spot and derivatives trading volume, along with stablecoins and other categories, rather than presenting a single aggregate trading-volume figure.
“As our revenue diversifies, we will look to then update financial disclosures accordingly,” Haas said, adding that the company will continue evaluating ways to make its results more transparent for investors and analysts.
On costs, Haas said Coinbase is focused on maintaining expense discipline while continuing to develop products. She pointed to productivity gains from artificial intelligence, saying the company has reported meaningfully higher year-over-year pull requests and improved quality. Coinbase expects its 2026 expenses to look “very much like” 2025 expenses, excluding changes associated with USDC rewards, she said.
Haas reiterated Coinbase’s commitment to remaining adjusted EBITDA positive and said an improvement in crypto prices would accrue to the company’s bottom line. She also said the company’s development pace has not slowed despite the lower headcount base.
Tokenized Equities and Regulation Coinbase recently introduced one-for-one-backed tokenized equities on its Base network for customers outside the U.S., Haas said. She described the product as an equity held on blockchain infrastructure that is eligible for dividends and would eventually include voting rights once the technology is added to the roadmap.
Haas said Coinbase views the product as a “security plus,” combining ownership rights associated with a traditional security with the ability to self-custody, transfer and use the asset outside the existing intermediary system. She emphasized that customers must complete know-your-customer procedures.
She distinguished between tokenized securities representing actual securities and structures that are derivatives or other products, arguing that investors need clear taxonomy and education about the risks of what they are buying. Haas compared the distinction to differences among stablecoins, including algorithmic stablecoins and one-for-one-backed USDC.
On U.S. digital-asset regulation, Haas said Coinbase was “cautiously optimistic” about a September 15 congressional vote related to the Digital Asset Market Clarity Act. She said congressional action would be more durable, but added that the company’s roadmap does not depend on one outcome because the Securities and Exchange Commission and Commodity Futures Trading Commission are also pursuing regulatory clarity through rulemaking.
Base and Agentic Payments Haas said Coinbase sees long-term potential in agentic payments and Base, its blockchain network. Base sequencer fees are included in Coinbase’s other transaction revenue, she said, though the category is not currently material enough to disclose separately.
She said agentic-payment adoption may initially emerge in micropayment use cases, including agents purchasing inference, before broadening into other payment activity. Coinbase is using Base as part of its developer platform, offering developers USDC on Base alongside payment tools.
Haas said Coinbase remains a strong supporter of permissionless blockchain architecture, citing its security and resiliency benefits. While she expects both centralized and decentralized systems to coexist, she said centralized platforms will retain advantages in areas such as security and low-latency trading.
Looking ahead, Haas said Coinbase aims to unify tradable assets on a single technology stack, enabling features such as cross-margin and greater trading efficiency. She said the company believes this could support higher volumes and market share as its addressable market continues to expand.
About Coinbase Global (NASDAQ:COIN)Coinbase Global, Inc operates a digital asset and cryptocurrency platform serving retail users, institutions, developers and ecosystem partners. Through its exchange, customers can buy, sell, convert, store and transfer a range of cryptocurrencies and other digital assets. The company also provides an advanced trading platform for more experienced users and services designed for institutional trading and market access.
Its product offerings include custodial services, institutional prime brokerage and custody, staking services, a self-custody wallet, and tools that enable developers and businesses to build applications using blockchain networks.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Kevin Hassett na konci roku 2025 držel akcie Coinbase v hodnotě 1 až 5 milionů USD, zatímco Bílý dům přepisoval kryptopolitiku. Uvedl, že se kvůli tomu z kryptoměnových záležitostí vyřadil.
White House National Economic Council Director Kevin Hassett held between $1 million and $5 million worth of shares in crypto giant Coinbase at the end of 2025, as President Donald Trump's administration rapidly rewrote federal cryptocurrency policy.
Hassett's previously unreported 2025 annual financial disclosure lists the investment as vested Coinbase shares. He formerly worked as an advisor to the company. The filing shows he had not fully divested from the company nearly 11 months into Trump's second term. While the filing was recently released, it doesn't indicate whether Hassett still holds the shares as it covers only 2025.
Three days after taking office in 2025, Trump established the President's Working Group on Digital Asset Markets within the NEC. His executive order included Hassett's White House position or a designee as a member and required the group's final recommendations to reach Trump through Hassett's office.
The group, chaired by the then-White House crypto advisor David Sacks, went on to propose sweeping regulatory changes to digital-asset markets, banking, stablecoin and taxation. The administration has also reversed Biden-era crypto policies, created a government bitcoin reserve and pushed Congress toward a broader federal regulatory framework.
Hassett, who advised Coinbase from 2021 until January 2025 before joining the White House, has said he stayed out of crypto matters while ethics officials addressed his investment.
The White House declined to answer CNBC's questions about whether Hassett still holds the shares or whether holding them has prevented him from working on matters within his office's purview.
When CNBC asked about the shares in June 2025, Hassett said he had not sold them because he did not want to create the appearance that he was timing a sale. He said he had received guidance from "the ethics people" and was determining "what needs to be done."
"Meanwhile, I have recused from any matter that's related to crypto," Hassett said on CNBC's "Squawk Box."
The White House, in response to CNBC's questions about the new financial disclosure, indicated that recusal continues.
"Since day one, Kevin Hassett has and continues to be in full compliance with all ethical requirements, including his recusal from all cryptocurrency-related matters," White House spokesperson Kush Desai told CNBC in a statement.
The holdings raise questions, an ethics expert said, about whether Hassett's Coinbase stake created potential overlaps with his official duties and whether managing those conflicts through recusal sidelined one of Trump's top economic advisors from a major policy priority housed within the council he leads.
"I think he's got a major conflict of interest, or the appearance of one," said Virginia Canter, chief counsel and director of ethics and anti-corruption at Democracy Defenders Fund.
What remains unclear is what a recusal means in practice — which meetings, decisions or policy discussions has Hassett avoided and how much of his work as NEC director has it affected.
The crypto working group's final report lists Robin Colwell, a deputy assistant to the president for national economic policy, as the NEC representative rather than Hassett.
But recusal can only solve so much, said Canter, who previously served as an ethics lawyer at the Securities and Exchange Commission. If Hassett's recusal extended broadly across crypto, it could have sidelined him from a major part of his job, she said, like coordinating economic policy across agencies such as the Treasury and Commerce Departments, the SEC and the Commodity Futures Trading Commission, all of which were represented on the crypto working group.
"Crypto was a major initiative of the Trump administration," Canter said. "Did [Hassett] not review anything in crypto? Did he not participate in any meeting with the administration on policy? Did everyone know not to talk about crypto around him? I doubt it."
During Trump's second term, crypto has also become a major source of personal income for the president. Trump reported more than $1.4 billion in income from his family's cryptocurrency ventures in 2025, including through Trump-linked World Liberty Financial.
Meanwhile, Coinbase, whose shares have tanked since Trump returned to office, has been a key player in the industry's push for a new federal regulatory framework.
Just over a month into Trump's term, the SEC dismissed with prejudice its enforcement lawsuit against Coinbase, meaning it can't bring the same claim again. The SEC said the move was intended to facilitate its broader overhaul of cryptocurrency regulation and was not based on an assessment of the merits of the case, which in 2023 charged Coinbase with operating an unregistered securities exchange and for failing to properly register its crypto staking program.
Coinbase was also a major financial backer of the Fairshake super PAC and its affiliates during the 2024 elections, and crypto groups have continued spending heavily ahead of this year's midterms as the industry presses Congress to pass new digital-asset rules.
Coinbase has pledged another $25 million in spending ahead of this year's midterms as the crypto industry presses Congress to pass new digital-asset rules.
Coinbase CEO Brian Armstrong has repeatedly met with Trump and senior White House officials. He attended Trump's White House crypto summit in March 2025, met privately with Trump this March and returned to the White House in August as Trump pressed Congress to pass the Clarity Act.
That push remains active. Armstrong told CNBC on Thursday that the Clarity Act was "ready to get a yes vote" ahead of a key Senate vote expected Sept. 15. Even if the bill fails, he said, SEC and CFTC rulemaking would provide the industry greater regulatory clarity.
"We're going to get regulatory clarity one way or another," Armstrong said.
Coinbase se spojila s Moov, aby komunitním bankám a úvěrovým družstvům nabídla služby se stablecoiny včetně přijímání, vypořádání a financování v reálném čase. Partnerství přichází před klíčovým hlasováním Senátu o zákonu Clarity Act.
Coinbase is partnering with financial services provider Moov to increase access to stablecoin capabilities such as acceptance, settlement and real-time funding for community banks and credit unions ahead of a key vote on crypto legislation in the U.S. Senate next week.
The partnership, shared exclusively with CNBC, comes just days before a crucial preliminary vote on the Senate floor to advance the Clarity Act. The bill, which has languished in Senate limbo for months, would set up a first-of-its-kind regulatory framework for cryptocurrencies and other types of digital assets.
Coinbase and other parts of the crypto industry have pushed hard for the Senate to pass the bill. But the Clarity Act has run into opposition from banks, which are opposed to interest-like rewards offered on crypto exchanges and warn they could cause deposit flight from community banks and credit unions. The new partnership may help bridge the divide between community banks and crypto.
Under the agreement, Coinbase will provide digital asset infrastructure while Moov will connect that infrastructure to its payment systems that financial institutions and their customers already use — delivering stablecoin capabilities and payment rails to community banks. Moov already services more than 1,000 community banks and credit unions across the U.S., according to a press release announcing the partnership, connecting them to card acquiring and issuing and real-time payment rails.
"Community banks and credit unions have witnessed their customers use digital assets for years," said Ryan VanGrack, vice chair and head of corporate affairs at Coinbase. "Through our partnership with Moov, Coinbase is delivering the regulated infrastructure they need to offer these services directly — embedded right into their existing systems."
Wade Arnold, co-founder and CEO of Moov, said, "Business customers of community institutions are already being asked to accept stablecoins, and today they go outside their institution to do it."
"We built this so the answer comes from their primary FI instead. Merchants need acceptance and disbursement now. What comes next is bigger: funding that doesn't stop for weekends or holidays, because the rail doesn't close. Institutions that add this now will be positioned for both," he said.
Moov counts Citizens Bank as one of its existing customers. Jill Castilla, chairman, president and CEO of Oklahoma-based Citizens Bank of Edmond, said in a statement that the bank's "small business customers are looking for ways to lower interchange costs and get paid faster."
The Clarity Act's fate on the Senate floor, meanwhile, remains far from certain. The bill needs at least 60 votes in the Senate to advance, and it's unclear if it currently has the support. Democrats have expressed concern over proposed ethics language in the bill that they say doesn't go far enough to prevent public officials from profiting from crypto. And some Republicans are wary of the bill's potential impacts on community banks.
The bill is scheduled to come to a preliminary vote next Tuesday.
Brian Armstrong uvedl, že americký zákon Clarity Act může přinést větší regulační jasno pro kryptoměny i bez schválení Senátem. Coinbase jej považuje za velký milník pro institucionální kapitál.
The Clarity Act, which seeks to establish a U.S. federal framework for digital assets, is likely to pass given broad support from crypto firms, law-enforcement groups and several banks, Coinbase CEO Brian Armstrong said.
The legislation was ready to be supported by the Senate, Coinbase CEO Brian Armstrong told CNBC's "Squawk Box Asia" on Thursday, saying people he has spoken with are on board with the legislation.
While Armstrong was upbeat about the prospects of the legislation getting the Senate's approval, he said even if that doesn't happen, the sector will get greater regulatory clarity.
"Frankly, if it doesn't pass, it's also going to be a good outcome because the SEC and the CFTC have said that they're ready to publish rulemaking, and we're going to get regulatory clarity one way or another on the 15th or the day or two after," he said.
Coinbase has been a vocal supporter of the Clarity Act, which aims to define oversight of digital assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission, that's set for a Senate vote on Sept. 15.
Securing 60 votes has emerged as a key challenge, with ethics provisions among the issues under negotiation.
"The way to get 60 votes is with good ethics legislation as well as rounding out some of the things that are still outstanding," Democratic Senator Ruben Gallego of Arizona said at the Wyoming Blockchain Symposium last month.
Armstrong said the details of the ethics provisions were still being worked out and negotiated, but appeared "very close to a solution" ahead of the vote.
He described the potential passage of the Clarity Act as a "regulatory checkbox" that could help unlock institutional capital and pave the way for products such as tokenized equities in the U.S. "It'd be a big milestone."
The Clarity Act, introduced in May 2025 to establish clearer rules for the U.S. crypto industry, passed the House last July.
Beyond crypto tradingCoinbase has been diversifying its business beyond crypto spot trading, which Armstrong said has "basically been down for the last year."
About half of Coinbase's revenue comes from trading, Armstrong said. The company has expanded its trading business into areas including stocks, commodities and foreign exchange, while its non-trading revenue includes stablecoin and institutional custody.
Coinbase reported second-quarter results in July, with revenue falling to $1.2 billion from $1.5 billion a year earlier. The company posted a net loss of $359.5 million, compared with a profit of $1.43 billion in the year-ago period. Coinbase missed Wall Street's expectations for both revenue and earnings for a third straight quarter.
Coinbase has also been expanding overseas, establishing presence in the United Arab Emirates and Singapore, which Armstrong described as its Asia hub.
Establishing those hubs had been important during periods when the U.S. regulatory environment was less permissive, he said, adding that Coinbase also looks to expand in markets where governments are more receptive to crypto.
"We basically just try to grow when we have windows and we try to bide our time in the areas where we're sensing hostility," Armstrong said.
Coinbase shares have fallen nearly 23% so far this year. Armstrong attributed some of the pressure on the company's financials to crypto spot trading being down for the last year.
Bitmine hält 4,9 % des gesamten ETH-Umlaufs von 122,0 Millionen
Bitmine hat in nur 15 Monaten bereits 97 % des Weges zur „Alchemy of 5 %" zurückgelegt
Krypto-Aktien leisten den größten Beitrag zum bisherigen Quartalsverlauf des Russell 1000 und stellen 4 der 21 führenden Titel dar
Der Kursgewinn der Bitmine-Stammaktie von 99 % seit Quartalsbeginn ist der viertbeste im Russell 1000
ETH ist bislang die Makro-Anlageklasse mit der besten Wertentwicklung im 3. Quartal 2026 und übertrifft den S&P 500 um 5.430 Basispunkte
Bitmine wurde am 26. Juni 2026 in den Russell 1000 Large-Cap-Index aufgenommen
Die Vorzugsaktien der Serie A von Bitmine werden an der NYSE unter dem Symbol BMNP gehandelt
Bitmine verfügt über 5.067.309 gestakte ETH, was bei einem Kurs von 2.495 US-Dollar pro ETH einem Wert von 12,6 Milliarden US-Dollar entspricht. MAVAN (Made in America VAlidator Network) ist eine führende Ethereum-Staking-Plattform für BMNR und institutionelle Anleger
Bitmine hält Anteile im Wert von 91 Millionen US-Dollar an Eightco (NASDAQ: ORBS), das mittlerweile zu den wenigen börsennotierten Aktien weltweit zählt, die Anlegern ein indirektes Engagement in OpenAI ermöglichen
Die Summe aus Bitmines Krypto-Beständen, gesamten Barmitteln und marktfähigen Wertpapieren sowie „Moonshots" beläuft sich auf 15,7 Milliarden US-Dollar, darunter 5,93 Millionen ETH-Token, Barmittel und marktfähige Wertpapiere im Gesamtwert von 593 Millionen US-Dollar sowie weitere Krypto-Bestände
Bitmine wird weiterhin von einer erstklassigen Gruppe institutioneller Investoren unterstützt – darunter Cathie Wood (ARK), MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital sowie der Privatinvestor Thomas „Tom" Lee –, um das Ziel des Unternehmens zu fördern, 5 % der ETH-Bestände zu erwerben
, /PRNewswire/ -- (NYSE: BMNR) Bitmine Immersion Technologies, Inc. („Bitmine" oder das „Unternehmen"), ein Unternehmen im Bitcoin- und Ethereum-Netzwerk, dessen Schwerpunkt auf dem Aufbau von Kryptowährungsbeständen für langfristige Investitionen liegt, gab heute bekannt, dass sich die Bestände an Kryptowährungen sowie an Barmitteln und marktgängigen Wertpapieren und „Moonshots" auf insgesamt 15,7 Milliarden US-Dollar belaufen.
Bitmine Weekly Update
CRYPTO: Biggest contributor to Russell 1000 in 3Q are crypto
Asset Performance relative to S&P 500 since June 30, 2026
ETH/BTC ratio: Future tailwinds of Tokenization and AI
STAKING: BMNR now staking over 5 million ETH as of
ALCHEMY of 5%: BMNR ranked #81 by 5D avg daily
Stand 7. September 2026, 14:00 Uhr ET, setzen sich die Krypto-Bestände des Unternehmens zusammen aus 5.929.198 ETH zu einem Kurs von 2.495 US-Dollar pro ETH (laut Coinbase, NASDAQ: COIN), 211 Bitcoin (BTC), einer Beteiligung in Höhe von 180 Millionen US-Dollar an Beast Industries, einer Beteiligung in Höhe von 91 Millionen US-Dollar an Eightco Holdings (NASDAQ: ORBS) („Moonshots") sowie Barmitteln und marktgängigen Wertpapieren in Höhe von insgesamt 593 Millionen US-Dollar. Die ETH-Bestände von Bitmine machen 4,9 % des ETH-Angebots (von 122,0 Millionen ETH) aus.
„Seit dem 30. Juni sind vier der 21 Aktien mit der besten Wertentwicklung im Russell 1000 kryptobezogene Titel. Diese Outperformance spiegelt die Tatsache wider, dass Ethereum bislang die Anlageklasse mit der besten Wertentwicklung im dritten Quartal ist. Unserer Ansicht nach müssen Fondsmanager, deren Portfolios am Russell 1000 ausgerichtet sind, prüfen, ob sie über ein ausreichendes Engagement in Kryptowährungen verfügen, angesichts des überproportionalen Beitrags dieser Gruppe zu den Gewinnen des Russell 1000 in diesem Quartal. Bemerkenswert ist, dass die Stammaktie von Bitmine mit einem Gewinn von 99 % die viertbeste Wertentwicklung aufweist, verglichen mit 3 % für den Russell-1000-Benchmark", erklärte Thomas „Tom" Lee, Vorstandsvorsitzender von Bitmine.
Tom DeMark, Gründer von DeMark Analytics und Kapitalmarktberater von Bitmine, erwartet, dass ETH in den kommenden Wochen einen starken Aufschwung verzeichnen wird. Tom DeMark erklärte: „Im August bewegte sich ETH seitwärts, ohne nach unten auszubrechen, und der 12-Tage-Indikator lief aus, was auf eine Fortsetzung des Aufwärtstrends hindeutet. Wir glauben, dass dies die Fortsetzung des vorherigen Aufwärtstrends weiter untermauert. Wir gehen davon aus, dass die starke eintägige Rallye der letzten Woche wahrscheinlich ein Vorgeschmack auf den bevorstehenden Anstieg war."
„Zu Beginn des letzten Monats des kalendarischen dritten Quartals 2026 ist ETH der Makro-Anlageklasse mit der besten Performance in diesem Quartal und hat den S&P 500 bis zum vergangenen Freitag um 5.430 Basispunkte übertroffen. Tatsächlich sind die drei Vermögenswerte mit der besten Wertentwicklung seit dem 30. Juni ETH, BTC und SOL", erklärte Lee. „Wir glauben, dass dies die Voraussetzungen dafür schafft, dass institutionelle Anleger ihre Krypto-Bestände aufstocken, angesichts der bislang im Kalenderquartal 3 gegenüber anderen Makro-Anlagen erzielten erheblichen Outperformance von Kryptowährungen."
„Wir glauben, dass es in den letzten Monaten des Jahres 2026 zahlreiche positive Impulse geben wird", erklärte Lee. „Dazu gehört die bevorstehende Abstimmung über den CLARITY Act, die für Mitte September angesetzt ist. Zudem haben koreanische Investoren wieder begonnen, Kryptowährungen zu kaufen und sich von KI-Aktien abzuwenden. Unserer Ansicht nach wird der 4-Jahres-Zyklus in den nächsten Wochen seinen Tiefpunkt erreichen. Dies schafft die Voraussetzungen für eine voraussichtlich beträchtliche Beteiligung institutioneller Anleger am Kauf von Kryptowährungen in den letzten Monaten des Jahres 2026, insbesondere angesichts der positiven Impulse durch Tokenisierung und Agentic-AI."
„Dieses ETH/BTC-Verhältnis ist während Krypto-Haussezyklen gestiegen, angetrieben durch die zunehmende Nutzung von Ethereum im Vergleich zu Bitcoin. Diese früheren Zyklen wurden durch ICOs (2017–2018), NFTs (2020–2021) und Stablecoins (2025) befeuert. Im bevorstehenden Kryptozyklus sehen wir einen Anstieg des ETH/BTC-Verhältnisses, angetrieben durch die Tokenisierung an der Wall Street auf der Blockchain und durch agentenbasierte KI, die Blockchains nutzt", fuhr Lee fort.
„In der vergangenen Woche haben wir 28.086 ETH erworben. Die Erfolgsbilanz von Bitmine beim konsequenten Kauf von Kryptowährungen ist von keinem börsennotierten Unternehmen weltweit übertroffen. Bitmine hat seit Einführung der ETH-Treasury-Strategie am 30. Juni 2025 jede einzelne Woche ETH gekauft", erklärte Lee.
Am 16. Juli 2026 veröffentlichte Bitmine die neueste Botschaft des Vorstandsvorsitzenden (Link hier) für Juli 2026. Der Titel der Botschaft lautet: „ETH is the cure for the Uncanny Valley of Wealth."
Anfang 2026 startete Bitmine MAVAN (das ‚Made in America VAlidator Network'), die Staking-Plattform für institutionelle Anleger. Ursprünglich zur Unterstützung der eigenen Ethereum-Treasury von Bitmine entwickelt, hat MAVAN sein Angebot inzwischen auf institutionelle Investoren, Verwahrstellen und Ökosystem-Partner ausgeweitet, die auf der Suche nach erstklassiger Staking-Infrastruktur sind. Ein Teil der ETH von Bitmine ist bereits auf der MAVAN-Plattform gestakt.
Zum 7. September 2026 beläuft sich die Gesamtmenge der bei Bitmine gestakten ETH auf 5.067.309 (12,6 Milliarden US-Dollar bei einem Kurs von 2.495 US-Dollar pro ETH). „Bitmine hat mehr ETH gestakt als jede andere Organisation weltweit. Im Vollausbau (wenn die ETH von Bitmine vollständig von MAVAN und dessen Staking-Partnern gestakt werden) beläuft sich die prognostizierte ETH-Staking-Rendite auf annualisierter Basis auf 386 Millionen US-Dollar (basierend auf einer 7-Tage-BMNR-Rendite von 2,61 %)", erklärte Lee.
„Die annualisierten Staking-Erträge werden nun auf 330 Millionen Dollar geschätzt. Und diese 5,1 Millionen ETH machen 85 % der 5,93 Millionen ETH aus, die Bitmine hält. Die eigenen Staking-Aktivitäten von Bitmine erzielten eine 7-Tage-Rendite von 2,61 % (auf Jahresbasis)", fuhr Lee fort.
Bitmine ist eine der am häufigsten gehandelten Aktien in den USA. Nach Angaben von Fundstrat verzeichnete die Aktie ein durchschnittliches tägliches Handelsvolumen von 1,10 Milliarden US-Dollar (5-Tage-Durchschnitt, Stand: 4. September 2026) und belegte damit Platz 81 in den USA – hinter Intuit Inc. (Platz 80) und vor TJX Companies, Inc. (Platz 82) unter 5.704 in den USA notierten Aktien (statista.com und Fundstrat-Studie).
Die Krypto-Bestände von Bitmine sind die größte Ethereum-Reserve und die zweitgrößte globale Reserve, hinter Strategy Inc., das Berichten zufolge 840.447 BTC im Wert von etwa 66 Milliarden US-Dollar besitzt. Bitmine bleibt die weltweit größte ETH-Treasury.
Das Management von Bitmine ist der Ansicht, dass der GENIUS Act und das Project Crypto der Securities and Exchange Commission (SEC) für die Finanzdienstleistungen 2026 ebenso transformativ sind wie die Maßnahme der USA vom 15. August 1971, die das Bretton-Woods-System beendete und den US-Dollar vor 55 Jahren vom Goldstandard abkoppelte. Dieses Ereignis aus dem Jahr 1971 war der Auslöser für die Modernisierung der Wall Street und führte zur Entstehung der legendären Wall-Street-Giganten sowie der heutigen Finanz- und Zahlungsinfrastruktur. Diese erwiesen sich als bessere Investitionen als Gold.
Die Nachricht des Chairman von Bitmine finden Sie hier:
https://www.Bitminetech.io/chairmans-message
Die Präsentation der Ergebnisse für das gesamte Geschäftsjahr 2025 sowie die Unternehmenspräsentation finden Sie hier: https://Bitminetech.io/investor-relations/
Wenn Sie an aktuellen Informationen interessiert sind, melden Sie sich bitte hier an: https://Bitminetech.io/contact-us/
Informationen zu Bitmine
Bitmine Immersion Technologies, Inc. (NYSE: BMNR) ist gemeinsam mit seinen Tochtergesellschaften („Bitmine" oder das „Unternehmen") ein Unternehmen für Blockchain-Technologie-Infrastruktur, das in den Bereichen institutionelles Staking und Validierung digitaler Vermögenswerte, Bitcoin-Mining sowie strategische Verwaltung digitaler Vermögenswerte tätig ist. Als weltweit führendes Ethereum-Treasury-Unternehmen setzt es eine innovative Strategie für digitale Vermögenswerte für institutionelle Anleger und Teilnehmer am öffentlichen Markt um. Das Unternehmen stellt eine Staking- und Validierungsinfrastruktur auf institutionellem Niveau bereit – über die es Staking-Prämien und Validierungserträge erzielt – und betreibt darüber hinaus Bitcoin-Mining-Aktivitäten. Bitmine hält digitale Vermögenswerte strategisch und erzielt Erträge aus diesen Beständen, um Liquidität und Kapitalbildung zu unterstützen. Seit 2025 hat das Unternehmen seine Kapazitäten im Bereich der Blockchain-Infrastruktur ausgebaut, unter anderem durch die Entwicklung und Einführung von MAVAN, seiner Plattform für institutionelles Staking und Validierung. Zu den Aktivitäten des Unternehmens gehören darüber hinaus Investitionen in Blockchain-Projekte in der Frühphase („Moonshot"-Investitionen) sowie ergänzende Dienstleistungen in den Bereichen Mining, Hosting und Beratung.
Weitere Informationen finden Sie auf X:
https://x.com/bitmnr
https://x.com/fundstrat
Zukunftsgerichtete Aussagen
Diese Pressemitteilung enthält Aussagen, die „zukunftsgerichtete Aussagen" im Sinne des Private Securities Litigation Reform Act von 1995 in seiner jeweils gültigen Fassung darstellen. Zukunftsgerichtete Aussagen umfassen alle Aussagen, die nicht rein historischer Natur sind und im Allgemeinen an Begriffen wie „erwartet", „prognostiziert", „beabsichtigt", „plant", „glaubt", „voraussehen", „schätzen", „prognostizieren", „Ziele", „streben an", „könnte", „wird", „würde", „könnte", „sollte", „ansieht", „sieht" oder ähnliche Ausdrücke, die Verneinung solcher Begriffe oder andere vergleichbare Formulierungen. Diese Pressemitteilung enthält insbesondere zukunftsgerichtete Aussagen, die unter anderem Folgendes betreffen: (i) das Ziel des Unternehmens, 5 % des gesamten ETH-Angebots zu erwerben (die Initiative „Alchemy of 5 %"), sowie Aussagen, wonach das Unternehmen dieses Ziel in 15 Monaten zu 97 % erreicht habe; (ii) die Strategie des Unternehmens zum Aufbau digitaler Vermögenswerte und zur Verwaltung der Treasury-Bestände, einschließlich Aussagen zu den fortlaufenden wöchentlichen ETH-Zukäufen seit Einführung der ETH-Treasury-Strategie am 30. Juni 2025 sowie zum Status des Unternehmens als weltweit größter ETH-Treasury-Verwalter; (iii) die Staking-Aktivitäten des Unternehmens, einschließlich der prognostizierten annualisierten ETH-Staking-Erträge von etwa 386 Millionen US-Dollar bei vollem Umfang (unter der Annahme, dass die ETH von Bitmine vollständig von MAVAN und seinen Staking-Partnern unter Verwendung einer 7-Tage-BMNR-Rendite von 2,61 % gestaked wird), der derzeit prognostizierten annualisierten Staking-Erlöse von etwa 330 Millionen US-Dollar sowie der 7-Tage-Rendite von 2,61 % (annualisiert); (iv) die Expansion von MAVAN zur Betreuung institutioneller Anleger, Verwahrstellen und Ökosystempartner, die eine erstklassige Staking-Infrastruktur suchen, sowie die angestrebte Position als führende Anlaufstelle für Ethereum-Staking für BMNR und institutionelle Anleger; (v) Erwartungen hinsichtlich der zukünftigen Kursentwicklung von ETH und der Marktbewegungen, einschließlich der Erwartung von Tom DeMark, dass ETH in den kommenden Wochen auf der Grundlage technischer Analysen einen starken Aufwärtstrend verzeichnen wird, sowie der Überzeugung, dass die Seitwärtsbewegung im August eine erneute Aufwärtsbewegung andeutet; (vi) Aussagen zur Wertentwicklung von ETH als dem bislang leistungsstärksten Makro-Anlagewert im dritten Quartal 2026, der den S&P 500 um 5.430 Basispunkte übertrifft, sowie dazu, dass dies die Voraussetzungen dafür schafft, dass institutionelle Anleger ihre Krypto-Bestände aufstocken; (vii) die Überzeugung des Managements, dass es im Vorfeld der letzten Monate des Jahres 2026 mehrere positive Impulse gibt, darunter die bevorstehende Abstimmung über den CLARITY Act, die für Mitte September 2026 angesetzt ist, erneute Käufe durch koreanische Investoren und eine Umschichtung weg von KI-Aktien, die Einschätzung, dass der vierjährige Kryptozyklus in den nächsten Wochen seinen Tiefpunkt erreichen wird, sowie die Erwartung einer beträchtlichen Beteiligung institutioneller Anleger am Kauf von Kryptowährungen in den letzten Monaten des Jahres 2026, insbesondere angesichts der günstigen Rahmenbedingungen durch Tokenisierung und agentische KI; (viii) Aussagen und Erwartungen bezüglich des ETH/BTC-Verhältnisses, darunter die Annahme, dass das Verhältnis im kommenden Kryptozyklus steigen wird, angetrieben durch die Tokenisierung an der Wall Street auf der Blockchain und durch agentische KI, die Blockchains nutzt – ähnlich wie in früheren Zyklen, die durch ICOs (2017–2018), NFTs (2020–2021) und Stablecoins (2025) befeuert wurden; (ix) die Überzeugung des Managements, dass der GENIUS Act und das SEC-Projekt „Crypto" für die Finanzdienstleistungen im Jahr 2026 ebenso transformativ sein werden wie das Ende des Bretton-Woods-Systems im Jahr 1971 und dass sich die daraus resultierenden Investitionen als besser als Gold erweisen werden; (x) Aussagen, dass Krypto-Aktien den bislang größten Beitrag zum Quartalsergebnis des Russell 1000 geleistet haben und dass Fondsmanager, die sich am Russell 1000 orientieren, prüfen müssen, ob sie ausreichend in Kryptowährungen engagiert sind; (xi) Aussagen zu den Investitionen des Unternehmens, darunter, dass seine Beteiligung an Eightco Holdings (NASDAQ: ORBS) bietet Anlegern ein indirektes Engagement in OpenAI und dessen Beteiligung in Höhe von 180 Millionen US-Dollar an Beast Industries; und (xii) Aussagen zum Wert der Kryptowährungen, Barmittel, marktfähigen Wertpapiere und „Moonshot"-Bestände des Unternehmens, einschließlich eines Gesamtbestands von 15,7 Milliarden US-Dollar und ETH-Beständen, die 4,9 % des gesamten ETH-Angebots ausmachen.
Diese zukunftsgerichteten Aussagen sind mit erheblichen Risiken und Ungewissheiten verbunden, die dazu führen könnten, dass die tatsächlichen Ergebnisse wesentlich von den ausdrücklichen oder implizierten Ergebnissen abweichen. Zu den Faktoren, die solche Unterschiede verursachen oder dazu beitragen könnten, gehören unter anderem: die extreme Volatilität und Unvorhersehbarkeit der Kurse digitaler Vermögenswerte, einschließlich ETH und Bitcoin, sowie der spekulative Charakter von Investitionen in digitale Vermögenswerte; das Risiko, dass sich historische Kursbewegungen von ETH, Indikatoren der technischen Analyse und die relative Wertentwicklung im Vergleich zu anderen Makro-Anlageklassen nicht wiederholen oder kein Hinweis auf die zukünftige Wertentwicklung sind; die Abhängigkeit des Unternehmens von Preisquellen Dritter (einschließlich Coinbase) und gemeldeten Marktwerten bei der Berechnung des Werts seiner Bestände an Kryptowährungen, Barmitteln, marktgängigen Wertpapieren und „Moonshot"-Anlagen sowie das Risiko, dass diese Werte nach dem in dieser Pressemitteilung genannten Datum und Zeitpunkt erheblich schwanken; Veränderungen der Marktbedingungen, die sich auf den Handelspreis und das Handelsvolumen der Stammaktien und der Vorzugsaktien der Serie A des Unternehmens auswirken, sowie das Risiko, dass die Aufnahme des Unternehmens in den Russell-1000-Index nicht die erwarteten Vorteile bringt oder dass der Beitrag von Krypto-Aktien zur Indexperformance nicht anhält; die Fähigkeit des Unternehmens, seine Strategie zum Erwerb digitaler Vermögenswerte erfolgreich umzusetzen, seine wöchentlichen ETH-Käufe fortzusetzen und seine ETH-Akquisitionsziele zu erreichen, einschließlich des Ziels „Alchemy of 5 %"; die Fähigkeit des Unternehmens, seinen Geschäftsbetrieb, die Ethereum-Treasury-Aktivitäten und die MAVAN-Expansion zu finanzieren; operative, sicherheitsbezogene und technologische Risiken im Zusammenhang mit den Staking- und Validierungsaktivitäten des Unternehmens, einschließlich Netzwerkausfällen, Slashing-Ereignissen, Cybersicherheitsverletzungen und Protokolländerungen; das Risiko, dass die tatsächliche Staking-Beteiligung, die Renditen, Belohnungen und Erlöse wesentlich von den in dieser Pressemitteilung beschriebenen Prognosewerten abweichen, die auf einer 7-Tage-Rendite basieren und davon ausgehen, dass ETH in großem Umfang vollständig gestaked wird; den Wettbewerb in den Bereichen digitale Vermögenswerte, Staking und Mining; die Abhängigkeit des Unternehmens von Schlüsselpersonen, einschließlich der Führungsspitze und Beratern wie Tom DeMark; regulatorische Entwicklungen, die digitale Vermögenswerte, die Blockchain-Technologie und Staking-Aktivitäten in den Vereinigten Staaten und weltweit betreffen, einschließlich des Zeitpunkts und des Ausgangs der geplanten Abstimmung über den CLARITY Act sowie der endgültigen Verabschiedung, Umsetzung und Auslegung des GENIUS Act und anderer anhängiger Gesetzgebungsvorhaben und Regulierungsinitiativen; Maßnahmen der SEC, der CFTC und anderer Aufsichtsbehörden, die digitale Vermögenswerte und damit verbundene Geschäftsbereiche betreffen; Risiken im Zusammenhang mit den Investitionen des Unternehmens in Blockchain-Projekte in der Frühphase („Moonshot"-Investitionen), einschließlich der Investitionen in Eightco Holdings (einschließlich Art und Umfang eines etwaigen indirekten Engagements bei OpenAI) und Beast Industries; makroökonomische Faktoren, darunter Inflation, Zinssätze, die Geldpolitik der Federal Reserve, die Lage auf dem Arbeitsmarkt und die allgemeine Wirtschaftslage, die die Stimmung der Anleger gegenüber digitalen Vermögenswerten beeinflussen, einschließlich des Verhaltens koreanischer und anderer internationaler Investoren; die Genauigkeit der Prognosen aus technischen Analysen und der Erwartungen des Managements hinsichtlich der ETH-Kursentwicklungen, des ETH/BTC-Verhältnisses sowie der Auswirkungen von Tokenisierung und agentenbasierten KI-Anwendungen auf Ethereum; die Unvorhersehbarkeit von Marktzyklen bei Kryptowährungen und die Genauigkeit der Erwartungen hinsichtlich zukünftiger Kryptozyklen, einschließlich der Frage, ob der Vierjahreszyklus wie erwartet seinen Tiefpunkt erreicht und ob eine institutionelle Beteiligung eintritt; Änderungen am Ethereum-Protokoll, einschließlich der Staking-Mechanismen, der Anforderungen an Validatoren und der Belohnungsstrukturen; die Leistung von Drittanbietern, Börsen, Verwahrstellen und Staking-Partnern; Risiken im Zusammenhang mit der Konzentration der Vermögenswerte des Unternehmens in digitalen Währungen, insbesondere Ethereum; sowie die sonstigen Risikofaktoren, die in den bei der SEC eingereichten Unterlagen des Unternehmens beschrieben sind.
Die in dieser Pressemitteilung enthaltenen zukunftsgerichteten Aussagen basieren auf Informationen, die der Geschäftsführung zum Zeitpunkt dieser Veröffentlichung zur Verfügung standen, und spiegeln die aktuellen Erwartungen, Schätzungen, Prognosen, Projektionen, Ansichten und Überzeugungen der Geschäftsführung hinsichtlich zukünftiger Ereignisse und Umstände wider. Die tatsächlichen Ergebnisse können aufgrund einer Reihe von Faktoren, einschließlich der oben beschriebenen sowie der im Abschnitt „Risikofaktoren" des Jahresberichts des Unternehmens auf Formular 10-K für das am 30. September 2025 endende Geschäftsjahr, der am 21. November 2025 bei der SEC eingereicht wurde, in den Quartalsberichten des Unternehmens auf Formular 10-Q sowie in den sonstigen bei der SEC eingereichten Unterlagen des Unternehmens, in ihrer jeweils geänderten oder aktualisierten Fassung. Kopien dieser Unterlagen sind auf der Website der SEC unter www.sec.gov und auf der Website des Unternehmens unter https://Bitminetech.io/investor-relations/.Forward-looking verfügbar. Das Unternehmen weist die Leser darauf hin, sich nicht unangemessen auf zukunftsgerichtete Aussagen zu verlassen, die lediglich den Stand zum Zeitpunkt ihrer Veröffentlichung widerspiegeln. Bitmine lehnt ausdrücklich jegliche Verpflichtung oder Zusage ab, zukunftsgerichtete Aussagen zu aktualisieren, zu überarbeiten oder zu ergänzen, um Änderungen seiner Erwartungen oder Änderungen der Ereignisse, Bedingungen oder Umstände, auf denen solche Aussagen beruhen, widerzuspiegeln, es sei denn, dies ist nach geltendem Recht oder geltenden Vorschriften erforderlich.
Coinbase spustila v Kanadě regulované futures na kryptoměny, komodity a indexy pro oprávněné obchodníky. Firma uvádí, že objem krypto derivátů je asi 4,4krát vyšší než spot.
Key Takeaways Coinbase launched regulated crypto, commodity and index futures in Canada for eligible traders.Coinbase says crypto-derivatives volume is about 4.4 times spot, expanding its addressable market.The Canada rollout could boost transaction revenues and serve as a blueprint for other global markets. Coinbase Global (COIN - Free Report) continues to advance its ambition of becoming the industry’s leading “everything exchange.” Its latest strategic initiative—the launch of regulated derivatives in Canada—expands the company’s addressable market, strengthens customer engagement and supports its evolution into a comprehensive financial platform.
Through Coinbase Financial Markets, Coinbase has become the first major crypto-native platform to offer direct access to native crypto futures in Canada. Eligible traders in Canada can access 23 perpetual and dated futures linked to assets such as Bitcoin, Ethereum and Solana. The offering also includes five commodity futures covering gold, silver and oil, along with index futures such as COIN50. Nano-sized contracts and leverage of up to 10 times make these products more capital-efficient and accessible to sophisticated investors.
The launch is strategically significant as derivatives account for a substantial share of global crypto trading. Coinbase estimates that crypto-derivatives volume is approximately 4.4 times that of the spot market. Establishing a presence in Canada’s derivatives market could therefore lift trading activity and transaction revenues while reducing Coinbase’s reliance on traditional spot-market volumes. A successful rollout could also serve as a blueprint for introducing regulated derivatives in other international markets.
Overall, the derivatives launch in Canada is a positive for Coinbase. It expands the company’s product portfolio, provides exposure to a considerably larger trading pool and reinforces its strategy of building a regulated global financial platform.
What About COIN’s Peers?Circle Internet Group’s (CRCL - Free Report) international expansion strengthened its position as a global fintech powerhouse. By expanding its footprint across Europe, Asia and Latin America, Circle has gained stronger access to regulated digital markets. By accelerating global USDC adoption, Circle positions itself for sustained growth and leadership in the rapidly evolving digital financial ecosystem.
Robinhood Markets’ (HOOD - Free Report) international expansion enables it to tap into rising global retail investing demand. By establishing operations in the United Kingdom and Asia, Robinhood broadens revenue streams and reduces reliance on U.S. markets. With strategic acquisitions and regional hubs, Robinhood is well-positioned for sustained growth and a stronger presence in the global fintech landscape.
COIN’s Price PerformanceShares of COIN have lost 15% in the year-to-date period, underperforming the industry.
Image Source: Zacks Investment Research
COIN’s Expensive ValuationCOIN trades at a price-to-earnings ratio of 73.06, significantly above the industry average of 16.52.
Image Source: Zacks Investment Research
Estimate Movement for COINThe Zacks Consensus Estimate for COIN’s third-quarter and fourth-quarter 2026 earnings per share (EPS) witnessed southbound movement in the last 30 days. The same holds true for 2026 and 2027.
Washington's push to regulate stablecoins sent Circle Internet stock soaring past a key threshold this morning, even as 21 of the biggest names in traditional finance quietly assembled a rival that could upend the very advantage regulators are handing Circle.
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Stablecoin regulation is driving a sharp rerating in Circle Internet stock this morning, as a policy push in Washington outweighs the news of a bank-led rival coin. Circle Internet Group (NYSE:CRCL | CRCL Price Prediction) stock is up 14% to $100.63 in morning trading, a decisive move that pushes the shares above the psychologically important $100 level.
The broader benchmarks are calmer but still constructive. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.91% to $772.09, tracking the S&P 500 higher this morning. Circle Internet stock was up 12% year to date through the prior close, so today’s advance stacks on an already hot run and lifts the year-to-date gain sharply from that mark.
Testimony Fuels the Rally Circle President Heath Tarbert testified before the House Financial Services Committee, urging full implementation of the GENIUS Act, the federal framework for payment stablecoins covering reserve requirements, redemption at par, and disclosures that takes effect no later than January 2027. Tarbert warned lawmakers that the country risks losing financial influence if the next generation of money and capital markets is built on infrastructure governed outside the United States, and he called for closing offshore loopholes.
Tarbert stated, “Congress cannot determine which technologies will succeed. It can determine whether American law, American institutions, and the dollar will remain embedded in the systems that do.” Circle Internet issues USDC, the second-largest stablecoin, with a circulating supply of 73.7 billion tokens, according to Circle Internet Group.
A federal charter, tighter reserve rules, and closed offshore loopholes read as a direct tailwind for the issuer with the deepest U.S. regulatory footprint. Circle already secured its OCC federal trust bank charter and set up Circle National Trust as a supervised foundation for institutional digital-asset services.
Bank Consortium Adds the Bear Case The counterweight in this story sits on the other side of the same regulatory frame. Goldman Sachs (NYSE:GS) is a member of a consortium of 21 financial institutions planning to issue a dollar-pegged stablecoin in the first half of 2027, backed one-to-one by reserves on public blockchains, expanded from the 10 banks involved at its announcement. Goldman Sachs and its consortium peers first floated the group in October 2025, and the roster has more than doubled since, according to Goldman Sachs Group Inc.
That’s the tension worth sitting with. The same regulation that legitimizes USDC also legitimizes a competing bank-issued token backed by balance sheets and customer relationships Circle can’t match. For now, the near-term reading favors Circle Internet, since USDC has scale and distribution today while the consortium product isn’t due for more than a year.
Peers and the Crypto Backdrop Coinbase Global (NASDAQ:COIN) is Circle’s primary USDC distribution partner and shares in reserve economics, and Coinbase stock is riding the same wave this morning. Coinbase confirmed on its most recent call that the Circle partnership auto-renewed on the same terms, which removes a near-term overhang that had weighed on both names. COIN stock jumped 10% $191.98 in Thursday morning trading.
Meanwhile, the iShares Bitcoin Trust ETF (NASDAQ:IBIT) is advancing 4% to $45.74 alongside firmer crypto prices, a helpful backdrop for stablecoin sentiment even though the fund’s mandate is pure Bitcoin (CRYPTO:BTC) exposure. BlackRock (NYSE:BLK), the ETF’s sponsor, is a Circle institutional partner and a founding validator on Circle’s forthcoming Arc network, tying the largest asset manager on the planet directly into the USDC ecosystem.
Cathie Wood’s ARK Invest added conviction to the narrative last week. On August 31, Wood’s firm bought 35,192 Circle Internet shares worth roughly $3.36 million, days after Circle announced a front-of-shirt partnership with Chelsea Football Club.
What to Watch Next The next moves on GENIUS Act rulemaking and any concrete consortium filings in the coming weeks may reset the debate. The Arc mainnet public launch on September 16 is the next scheduled catalyst on Circle’s calendar, with BlackRock’s BUIDL tokenized fund and DTCC’s tokenized-securities pipeline lined up as flagship use cases.
With the bulk of Circle Internet stock’s advance concentrated in the past month and tied to a legislative timetable rather than delivered results, investors sizing their exposure should keep their positions moderate. A framework that arrives with 21 large banks on the other side is a two-edged catalyst, and the trade could turn quickly if consortium timelines accelerate.
Contact [email protected] for any questions or corrections.
Coinbase rozšířila partnerství s Webull do Kanady a poskytne mu obchodování s kryptoměnami, likviditu i institucionální úschovu prostřednictvím Crypto-as-a-Service. Webull Canada bude zajišťovat pouze provádění pokynů.
Key Takeaways Coinbase brings crypto trading and institutional-grade custody to Webull Canada through its platform.Webull retains customers while Coinbase supplies liquidity, trading technology and custody services.Coinbase's Canada expansion creates a potentially scalable, asset-light revenue opportunity. Coinbase Global (COIN - Free Report) recently expanded its partnership with Webull to bring crypto trading and custody to Canada. This strategic endeavor once again reflects that COIN is leaving no stone unturned to be a critical infrastructure for the global financial system’s transition toward digital assets.
Under the agreement, Webull Canada will use Coinbase’s Crypto-as-a-Service platform for trade execution and institutional-grade custody. The companies have already introduced similar offerings in the United States, Brazil and Australia, allowing Coinbase to monetize its technology and infrastructure internationally without directly acquiring retail customers.
Webull Canada Crypto Limited, regulated by the Canadian Investment Regulatory Organization, will provide order-execution-only crypto trading. Coinbase Canada operates as a registered Restricted Dealer. This regulatory framework, coupled with rising demand for digital assets, supports the expansion of institutional-grade crypto services.
Coinbase will supply liquidity, trading technology and custody services, while Webull retains the customer relationship. This arrangement creates a potentially scalable, asset-light revenue opportunity for Coinbase as brokers, banks and fintech platforms increasingly seek to add crypto capabilities.
The expansion also appears well timed. An Ontario Securities Commission survey showed that crypto-asset ownership in Canada rose to 25% from 10% in 2023. Against this backdrop, Coinbase is strengthening its position at the center of the financial sector’s transition onchain.
What About COIN’s Peers?Circle Internet Group’s (CRCL - Free Report) international expansion strengthened its position as a global fintech powerhouse. By expanding its footprint across Europe, Asia and Latin America, Circle has gained stronger access to regulated digital markets. By accelerating global USDC adoption, Circle positions itself for sustained growth and leadership in the rapidly evolving digital financial ecosystem.
Robinhood Markets’ (HOOD - Free Report) international expansion enables it to tap into rising global retail investing demand. By establishing operations in the United Kingdom and Asia, Robinhood broadens revenue streams and reduces reliance on U.S. markets. With strategic acquisitions and regional hubs, Robinhood is well-positioned for sustained growth and a stronger presence in the global fintech landscape.
COIN’s Price PerformanceShares of COIN have lost 16.8% in the year-to-date period, underperforming the industry.
Image Source: Zacks Investment Research
COIN’s Expensive ValuationCOIN trades at a price-to-earnings ratio of 78.19, significantly above the industry average of 17.02.
Image Source: Zacks Investment Research
Estimate Movement for COINThe Zacks Consensus Estimate for COIN’s third-quarter and fourth-quarter 2026 earnings per share (EPS) witnessed southbound movement in the last 30 days. The same holds true for 2026 and 2027.
Image Source: Zacks Investment Research
The consensus estimates for COIN’s 2026 revenues and earnings indicate year-over-year decreases. Nonetheless, the consensus estimates for 2027 revenues and earnings imply year-over-year increases.
COIN stock currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
CEO Coinbase Brian Armstrong zvažuje odchod z Kalifornie kvůli navrhované dani z majetku, kterou označil za „hluboce neamerickou“. Firma zároveň připouští přesun sídla.
Coinbase CEO Brian Armstrong said he is considering exiting California over the state’s “deeply un-American” proposed wealth tax.
During a Tuesday evening appearance on “The Katie Miller Podcast,” Armstrong warned that tech founders are fleeing California over the state’s proposed first-of-its-kind billionaire tax – and hinted his firm, which operates its largest office in San Francisco, might be next in line.
“I think it’s deeply un-American to seize people’s assets. It might be unconstitutional,” said Armstrong, who is worth an estimated $8.8 billion, according to Forbes.
Coinbase CEO and co-founder Brian Armstrong (right) speaks at a White House event hosted by President Trump last week for crypto industry leaders. AP Photo/Jacquelyn Martin He argued that he has paid “tons of taxes” on his income and has no problem doing so – but that an extra tax on wealth and assets “starts to feel like a third-world country. That is a dangerous, dangerous path to go down.
“It’s against my values, I would say. I think it’s bad for the state and for America. So we’re considering any and all options basically at this point to be, in terms of relocation,” Armstrong said.
The exec added that he wouldn’t be so opposed to additional taxes if there wasn’t so much fraud and waste in the government.
Armstrong told CNBC last week that he’s considering relocating his home out of California by the end of the year.
As of June, Coinbase – an American crypto exchange and wallet platform with venture capitalist powerhouse Marc Andreessen on its board – employed 4,300 workers internationally.
The company insists it is a remote-first operation – but last May it signed a lease for 150,000 square feet of San Francisco office space. That came just four years after it paid $25 million to break its previous office lease in the same city.
Coinbase also operates offices in New York, North Carolina, London, Singapore, Luxembourg, Dublin and Bangalore, India, as well as many remote positions, according to its website.
It is unclear how many people Coinbase employs in California. The company did not respond to The Post’s requests for comment.
Employees work at Coinbase’s previous San Francisco office space in 2017. Bloomberg via Getty Images Prop 40, California’s proposed billionaire tax, would impose a one-time 5% tax on the net worth of roughly 200 billionaires living in the Golden State.
Mega-rich techies have pumped millions of dollars into a campaign to kill the tax. Google co-founder Sergey Brin has spent more than $100 million fighting the rule, which would cost him more than $13 billion personally.
Meta founder Mark Zuckerberg reportedly bought a $170 million mansion near Miami this year while venture capitalist Peter Thiel, ex-Uber CEO Travis Kalanick and Google co-founder Larry Page have fled the state.
Even California’s Democratic Gov. Gavin Newsom has opposed the tax, warning it could hurt the state’s economy. Still, he’s backed a “national billionaires’ tax,” saying today’s office worker shouldn’t have to “shoulder a higher tax rate than the heiress.”
Coinbase’s logo was displayed on the Nasdaq jumbotron in Times Square on April 14, 2021 during its market debut. REUTERS Californians are set to vote on the billionaire tax in November. If enacted, 90% of funding it raises would go toward healthcare services in the Golden State, while the remaining 10% would be spent on food assistance and education.
The ballot comes ahead of President Trump’s expected budget cuts next year. The state’s Medicaid program alone is predicted to lose up to $30 billion in federal funding.
Armstrong on Tuesday praised Trump for his friendly approach toward the cryptocurrency industry – while bashing former President Joe Biden and Sen. Elizabeth Warren (D-Mass.).
The Coinbase boss said Trump recognized in 2024 that there was a “massive voter base” of pro-crypto Americans.
Armstrong praised the Trump administration for its crypto-friendly policy approach. Al Drago/POOL via CNP/INSTARimages.com “By the way, it wasn’t just like a good political opportunity,” Armstrong added. “He recognized that for the United States to stay relevant as a financial and technology hub, we have to embrace this … because if not, it’s all going to go offshore.”
“It’s not like you can uninvent crypto at this point, right? Like someone is going to do it in the world. You can’t just bury your head in the sand. So whether you like crypto or hate crypto, you got to put clear rules in the book so it can be built here in America.”
He accused the Biden administration of “an active campaign to try to curtail or even kill” the crypto industry, adding that Warren “had lots of influence with the financial regulators at that time.”
Last week, Armstrong attended a White House event alongside several other crypto CEOs where Trump pressured Congress to pass the Clarity Act, a crypto regulation bill, by the end of this year.
After Trump’s re-election win, Armstrong attended a Crypto Ball event held at the Mellon Auditorium, down the street from the White House, the weekend of Trump’s inauguration.
A few months later in March, Armstrong sat three seats from Trump at a White House summit for crypto industry leaders.
Coinbase vybrala Chainlink jako orákulovou infrastrukturu pro tokenizované akcie na Base. Mezi nimi jsou 1:1 kryté podíly Apple, NVIDIA, Meta a Alphabet v regulované úschově.
Key Takeaways Coinbase chose Chainlink as oracle infrastructure for tokenized stocks, enabling continuous pricing data.Base hosts 1:1-backed tokenized shares of Apple, NVIDIA, Meta and Alphabet held in regulated custody.Tokenized stocks could support DeFi collateral, liquidity, lending and new financial products on Base. Coinbase Global (COIN - Free Report) has selected Chainlink as the oracle infrastructure for its tokenized stocks, a move that could expand its role beyond digital representations of listed shares. By providing continuous pricing data, Chainlink can help make these assets usable across finance applications, connecting traditional securities with onchain markets and opening revenue opportunities for both companies.
Coinbase has introduced tokenized versions of stocks such as Apple, NVIDIA, Meta and Alphabet on Base. Each token is a 1:1-backed claim on an underlying share held in regulated custody. Chainlink Data Feeds give developers across the Base ecosystem access to pricing information for these tokenized equities.
Chainlink reports that tokenized equities are among the fastest-growing segments of the real-world asset market, with their value reaching a record $2.3 billion by mid-July 2026. The milestone points to rising demand for blockchain-based access to traditional investments. Coinbase also benefits from Base’s reach, including millions of users and a developer ecosystem.
The opportunity for Coinbase goes beyond transaction fees. If tokenized stocks gain acceptance as collateral in DeFi, they could attract liquidity, lending activity and new financial products to Base. Meanwhile, Chainlink would benefit from growing demand for oracle services. Together, the companies are positioning Base as a marketplace where crypto assets and traditional securities can operate within the same financial system.
What About Peers?Robinhood Markets, Inc. (HOOD - Free Report) launched tokenized stocks in Europe in 2025 and subsequently built Robinhood Chain, an Ethereum-compatible Layer-2 specifically designed to bring traditional assets onchain. Robinhood’s Stock Tokens provide economic exposure to U.S. stocks and ETFs.
Interactive Brokers (IBKR - Free Report) continues to add features that widen its addressable client base and deepen wallet share. Interactive Brokers has added nine new tokens for trading through zerohash and three new tokens through Paxos, while introducing the ability to transfer funds to external wallets via stablecoin.
COIN’s Price PerformanceShares of COIN have lost 20.3% in the year-to-date period, underperforming the industry.
Image Source: Zacks Investment Research
COIN’s Expensive ValuationCOIN trades at a price-to-earnings ratio of 80.85, significantly above the industry average of 17.2.
Image Source: Zacks Investment Research
Estimate Movement for COINThe Zacks Consensus Estimate for COIN’s third-quarter and fourth-quarter 2026 earnings per share (EPS) witnessed southbound movement in the last 30 days. The same holds true for 2026 and 2027.
Coinbase a Better Mortgage spustily první celostátní hypotéku krytou tokeny, která splňuje pravidla Fannie Mae. Zájem z červnové čekací listiny přesáhl 260 milionů USD v očekávaném objemu úvěrů.
Key Takeaways Coinbase and Better Mortgage launch a nationwide token-backed mortgage that meets Fannie Mae guidelines.June waitlist demand topped $260 million in projected loan volume, with 60% eyeing a home within six months.Borrowers can pledge crypto for a down payment gap without selling holdings, retaining potential appreciation. Coinbase Global (COIN - Free Report) and Better Mortgage have launched the first token-backed conforming mortgage product nationwide. Better Mortgage will originate and service the loans, while Coinbase will provide the digital-asset infrastructure. Structured to meet Fannie Mae guidelines, the product’s first lien functions as a standard conforming mortgage.
The partnership could help Better Mortgage attract customers and distinguish its platform in a difficult housing market. Demand appears encouraging as Better Mortgage and Coinbase’s June waitlist represented more than $260 million in projected loan volume, and 60% of respondents expected to buy a home within six months. Notably, 76% were Coinbase One members, giving the offering access to a large, targeted customer base and potentially reducing reliance on traditional mortgage marketing.
The product also addresses a common barrier to homeownership. Better Mortgage estimates that 41% of its pre-approved customers meet income and credit requirements but lack enough cash for a conventional down payment. Allowing borrowers to pledge crypto assets could bridge that gap without requiring them to sell their holdings, enabling them to retain potential future appreciation. The approach may appeal particularly to younger buyers whose wealth is concentrated in digital assets rather than traditional savings accounts.
For Coinbase, the launch expands crypto’s use beyond trading by bringing digital assets into mortgage underwriting. It also supports the company’s broader push to become an “everything exchange,” offering financial services that connect crypto wealth with real-world spending and borrowing needs.
What About Peers?In a recent endeavor, Robinhood Markets, Inc. (HOOD - Free Report) launched tokenized stocks in Europe in 2025 and subsequently built Robinhood Chain, an Ethereum-compatible Layer-2 specifically designed to bring traditional assets onchain. Robinhood’s Stock Tokens provide economic exposure to U.S. stocks and ETFs.
Interactive Brokers (IBKR - Free Report) continues to add features that widen its addressable client base and deepen wallet share. Interactive Brokers has added nine new tokens for trading through zerohash and three new tokens through Paxos, while introducing the ability to transfer funds to external wallets via stablecoin.
COIN’s Price PerformanceShares of COIN have lost 14.9% in the year-to-date period, underperforming the industry.
Image Source: Zacks Investment Research
COIN’s Expensive ValuationCOIN trades at a price-to-earnings ratio of 78.19, significantly above the industry average of 17.02.
Image Source: Zacks Investment Research
Estimate Movement for COINThe Zacks Consensus Estimate for COIN’s third-quarter and fourth-quarter 2026 earnings per share (EPS) witnessed southbound movement in the last 30 days. The same holds true for 2026 and 2027.
On Aug. 19, Coinbase Global (COIN -6.33%) launched perpetual futures trading inside its Base App, giving eligible users up to 50x leverage across the platform's crypto and tokenized equity markets. The backend of that new feature will be handled by Hyperliquid, a popular and rising decentralized crypto derivatives exchange. That same day, nearly $3 billion in leveraged crypto positions were liquidated, the biggest single-day wipeout since the flash crash of early October 2025.
Those two events are connected. In fact, Coinbase's rollout of perpetuals guarantees that the market will see even more volatility than before -- here's what you should know if you're a crypto holder trying to make sense of what the impact will be.
Image source: The Motley Fool.
This is a good move for Coinbase A perpetual future (or "perp" for short) is a type of financial derivative contract that tracks an asset's price and never expires. Because they are nearly always traded using leverage, they're a handy way to boost an investor's exposure to the price movement of an underlying asset. Coinbase says perps trading currently drives 75% of overall crypto trading volume.
But excessive use of leverage has been a major contributor to financial crashes throughout history. Because applying leverage means borrowing money to squeeze higher returns out of smaller price movements in the underlying asset, investors must provide the exchange with margin to use as collateral for the borrowing, which has consequences.
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Someone making a spot trade might want to sell a cryptocurrency if it loses 10% of its value, which would recoup 90% of their starting capital before any fees. Or they could decide to hold on through the dip, and eventually sell their position at a profit; the price of the coin alone cannot force them to take any action.
On the other hand, if a trader with a 10x leveraged perpetual futures position in the same asset experiences a drop of a little under 10% in price, their position will be automatically liquidated by the exchange, costing them the entire margin backing that position, which also excludes them from the upside of the asset's recovery, if one occurs.
And in both of those scenarios, Coinbase and Hyperliquid capture transaction and trading fees while avoiding most of the primary investment risks.
Perpetuals are hard to access in the U.S. for now Perpetuals in Coinbase's Base App are currently unavailable in the U.S., the U.K., and Canada, though Americans who want to access leveraged trading on Coinbase's main platform already have it, albeit with a 10x leverage cap.
That may change soon enough, given that crypto regulations in the U.S. are currently being overhauled. If it does, more investors will have access to a lot more leverage than before.
Volatility is sure to follow, as smaller sums of capital will be able to make much larger impacts relative to a crypto's market cap than before. That doesn't mean you need to trade perpetuals using lots of leverage in Coinbase's app or anywhere else. They're simply too risky for most investors to bother with.
Owning Coinbase stock, or Hyperliquid's coin, will be sufficient to capture some of the upside of its new perpetuals offerings. Just be aware that as the contracts get more and more popular, the market could be in for a bumpy ride even if the direction of travel is favorable.
Coinbase vybral Chainlink jako oficiální oracle infrastrukturu pro tokenizované akcie na Base. To má milionům uživatelů umožnit půjčovat si, půjčovat a obchodovat tokenizované americké akcie onchain.
Chainlink is delivering continuous pricing for Coinbase Tokenized Stocks as its official oracle infrastructure, enabling millions of Base users to lend, borrow, and trade the largest publicly traded U.S. equities onchain.
, /PRNewswire/ -- Coinbase, the largest publicly traded digital asset exchange in the United States, has selected Chainlink as its official oracle infrastructure powering its newly launched Tokenized Stocks, unlocking utility and distribution across the Base DeFi ecosystem.
Through Chainlink Data Feeds, builders across the Base ecosystem have access to continuous pricing for Coinbase’s tokenized stocks, including NVDAc, METAc, AAPLc, GOOGLc, and more. Through Chainlink Data Feeds, builders across the Base ecosystem have access to continuous pricing for Coinbase's tokenized stocks, including NVDAc, METAc, AAPLc, GOOGLc, and more. This data enables leading DeFi protocols, including lending markets, decentralized exchanges, and structured product platforms, to support tokenized equities as collateral, transforming tokenized equities from standalone tokens into fully composable building blocks.
Coinbase Tokenized Stocks are real equity securities issued as standard B20 tokens on Base. Each token is backed 1:1 by an underlying share held in regulated custody with Alpaca under the Abu Dhabi Global Market (ADGM) framework. With Coinbase as the issuer, Chainlink delivers the essential market data infrastructure required to unlock onchain utility and distribution across the Base ecosystem.
Tokenized equities represent one of the fastest-growing categories of real-world assets, reaching a record $2.3 billion by mid-July 2026. However, without institutional-grade market data, the utility of tokenized equities are limited to simple transfers and swaps. By selecting Chainlink as its official oracle solution, Coinbase is unlocking advanced 24/7 collateral management use cases, enabling millions of Base users to earn yield and borrow against U.S. stocks.
"Base has built one of the most vibrant DeFi ecosystems out there, and Chainlink's oracle infra unlocks new utility for tokenized assets. With institutional-grade market data now live onchain, we're giving millions of users access to financial primitives that, until now, were locked behind traditional gatekeepers. This is the kind of move that positions Base as the go-to chain for real-world assets." — Antonio Garcia-Martinez, Head of Growth, Base.
"Tokenized assets only reach their full potential when the broader ecosystem can build with them across DeFi. We're excited to see Coinbase select Chainlink as its official oracle infrastructure for Coinbase Tokenized Stocks. With Chainlink, Coinbase leverages the secure, reliable pricing data required to unlock the utility and distribution of tokenized stocks across DeFi, while accelerating the convergence of TradFi and DeFi." — Johann Eid, Chief Business Officer, Chainlink Labs
This development marks a major milestone in the convergence of traditional capital markets and onchain finance. As one of the world's most trusted digital asset platforms bringing equities onchain at scale, Coinbase is accelerating mainstream access to the onchain economy, with Chainlink providing the critical infrastructure required to unlock utility and distribution for tokenized stocks across DeFi.
Coinbase Tokenized Stocks are only available in eligible jurisdictions outside of the U.S.
About Coinbase
Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom in the world. The most trusted crypto platform, Coinbase stores more digital assets than any other company and is building the everything exchange — one place to access crypto, equities, derivatives, prediction markets, and more. Coinbase serves consumers through its suite of financial apps, institutions through Coinbase Prime, and developers through the Coinbase Developer Platform. Every experience runs on Coinbase's full-stack platform powering the future of finance: secure custody, deep exchange liquidity, stablecoin infrastructure, and global settlement rails — all built on a decade-plus foundation of security and compliance.
About Chainlink
Chainlink is the industry-standard oracle platform bringing the capital markets onchain and the market leader powering the majority of DeFi. The Chainlink stack provides the essential data, interoperability, compliance, and privacy standards needed to power advanced blockchain use cases for institutional tokenized assets, lending, payments, stablecoins, and more. Since inventing decentralized oracle networks, Chainlink has enabled tens of trillions in transaction value and now secures the vast majority of DeFi.
Many of the world's largest financial services institutions have also adopted Chainlink's standards and infrastructure, including Swift, Euroclear, Mastercard, Fidelity International, UBS, S&P Dow Jones Indices, FTSE Russell, WisdomTree, ANZ, and top protocols such as Aave, Polymarket, Lido, Lighter, and many others. Chainlink leverages a novel fee model where offchain and onchain revenue from enterprise adoption is converted to LINK tokens and stored in a strategic Chainlink Reserve. Learn more at chain.link.
About Base
Base is a blockchain built by Coinbase to power the global onchain economy. Designed for trading, payments, and agents, Base delivers sub-second settlement and sub-cent transaction costs at scale. It is the #1 onchain venue for BTC and ETH spot trading, the leading chain for stablecoin volume, and the dominant rail for agentic payments via the x402 standard. EVM-compatible and trusted by leading institutions, Base is used by millions of people worldwide.
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Coinbase Global (NASDAQ:COIN | COIN Price Prediction) currently trades at $186.49, while Bernstein analyst Gautam Chhugani carries a Street-high price target of $330 on the stock. That implies roughly 77% upside if his call plays out.
Coinbase runs the largest US crypto exchange plus subscription products, stablecoin revenue tied to USDC, the Base blockchain, and a fast-expanding derivatives and prediction markets business. The company is reinventing itself as a “everything exchange” just as core trading fees shrink.
The consensus target sits far below Bernstein’s number, meaning the bull case is real but not unanimous. Investors must decide whether the choppy tape is a setup or a warning.
A Year of Earnings Misses and Shrinking Volume Three consecutive quarterly disappointments have weighed on the stock. Q2 2026 was the worst, with EPS of -$1.36 against a -$0.2278 estimate, a surprise of -497.01%, and a $359.5 million net loss. Revenue fell 18.51% year over year to $1.22 billion.
Operationally, crypto spot volumes fell 25% quarter over quarter, crypto volatility hit multi-year lows, and Coinbase absorbed $209.5 million in losses on crypto assets held for investment, on top of a $482.4 million hit in Q1. Management disclosed a 14% headcount reduction and $52.4 million in restructuring charges.
The selloff was largely company-specific. Peers exposed to the same crypto cycle held up better, which is why COIN’s roughly 37.89% one-year decline stands out.
Why Bernstein Still Sees a Path to $330 Bernstein’s Chhugani anchors his $330 target on three pillars: structural high-margin revenue growth outside retail trading fees, an ongoing crypto liquidity supercycle tied to spot Bitcoin and Ethereum ETF flows, and regulatory clarity pushing volume from offshore venues onto compliant US rails.
Operational data supports parts of that thesis. Subscription and services revenue held at $555 million in Q2, or 48% of net revenue. Coinbase’s trading market share hit an all-time high of 10.3%, prediction markets crossed $100M annualized, and adjusted EBITDA stayed positive for the 14th consecutive quarter at $207.8 million. CFO Alesia Haas noted that new products are not cannibalizing spot and that Coinbase One subscribers are increasing their trading activity.
The broader Street is less aggressive. Consensus target sits at $194.97, with recent action skewed toward reiterations rather than upgrades. Bernstein’s number remains the outlier on the high end.
Peers Have Held Up Better Than COIN Robinhood (NASDAQ:HOOD) trades at $108.13 against an average target of $119.93, roughly 11% upside. It is down just 4.39% year to date, with coverage heavily buy-tilted at 18 Buy and 4 Strong Buy ratings.
Circle Internet Group (NYSE:CRCL) trades near $87.91 versus a $101.07 consensus target, about 15% upside, and is up 10.95% YTD. Ratings are more evenly split at 11 Buy and 12 Hold, reflecting stablecoin dependency concerns.
The largest analyst-implied upside sits with Coinbase, signaling COIN is the dislocated name within an otherwise steadier sector.
Choppy Tape, Wide Analyst Dispersion Coinbase currently trades at $186.49, down 17.53% year to date against a 12.29% gain for the S&P 500. Shares are up 25.61% over the past week on a bounce off the $139.11 52-week low.
The consensus target of $194.97 implies about 4.5% upside, while Bernstein’s $330 call implies roughly 77%. The 34-analyst panel skews positive:
Strong Buy: 3 Buy: 19 Hold: 9 Sell: 2 Strong Sell: 1 Where I Land on Coinbase Here The bull case rests on crypto volatility being closer to a floor than a ceiling and subscription, stablecoin, and derivatives revenue carrying the model through the trough. The path to Bernstein’s $330 runs through volume recovery, continued 10.3% market share gains, and roughly $600 million in annualized cost cuts hitting the bottom line.
The bear case is that crypto trading is entering a longer structural dry spell. A 3.361 beta, another $209.5 million quarter of investment losses, and a forward P/E north of 833 mean the market is paying a premium for a story that keeps missing near-term numbers.
I lean cautiously constructive. The consensus-versus-Bernstein spread is unusually wide, meaning the reward is asymmetric if the crypto cycle turns. COIN remains a high-beta name whose outcome is tied to the crypto cycle turning.
Contact [email protected] for any questions or corrections.
Bitmine owns 4.8% of the total ETH coin supply of 120.7 million
Bitmine is 97% of the way to the 'Alchemy of 5%' in just 14 months
ETH gained 30% in the past week, the largest weekly gain since May 2025 and July 2021. Both precedent instances were followed by subsequent gains of +170% and +167%, respectively.
Bitmine was added to the Russell 1000 Large-cap index on June 26, 2026
Bitmine's Series A Preferred Stock is trading on the NYSE under the symbol BMNP
Bitmine has 5,067,309 staked ETH, representing $12.4 billion at $2,440 per ETH. MAVAN (Made in America VAlidator Network) is a premier Ethereum staking destination for BMNR and institutional investors
Bitmine owns $89 million of Eightco (NASDAQ: ORBS), now one of the only publicly listed equities in the world to provide investors indirect exposure to OpenAI
Bitmine Crypto + Total Cash Holdings & Marketable Securities + "Moonshots" total $14.9 billion, including 5.85 million ETH tokens, total cash & marketable securities of $308 million, and other crypto holdings
Bitmine remains supported by a premier group of institutional investors including ARK's Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and personal investor Thomas "Tom" Lee to support Bitmine's goal of acquiring 5% of ETH
, /PRNewswire/ -- (NYSE: BMNR) Bitmine Immersion Technologies, Inc. ("Bitmine" or the "Company") a Bitcoin and Ethereum Network company with a focus on the accumulation of crypto for long term investment, today announced Bitmine crypto + total cash & marketable securities + "moonshots" holdings totaling $14.9 billion.
As of August 23, 2026 at 2:00pm ET, the Company's crypto holdings are comprised of 5,847,611 ETH at $2,440 per ETH (per CoinbaseNASDAQ: COIN), 210 Bitcoin (BTC), $180 million stake in Beast Industries, $89 million stake in Eightco Holdings (NASDAQ: ORBS) ("moonshots") and total cash & marketable securities of $308 million. Bitmine's ETH holdings are 4.8% of the ETH supply (of 120.7 million ETH).
"ETH gained 30% in the past week. This is the largest weekly gain since May 2025, prior to that it was July 2021. In those two precedent instances, this weekly gain of >30% signaled a launch point for a larger move in ETH. In July 2021, ETH subsequently gained +167% and after May 2025, ETH gained +170%," stated Thomas "Tom" Lee, Chairman of Bitmine. "We expect easing financial conditions to be a tailwind for crypto."
"We believe this upside move in ETH was overdue given the strengthening fundamentals in crypto, the multiple tailwinds of Wall Street tokenization, and agentic-AI. Moreover, the fact that the White House signaled support for crypto and the Treasury buying long-term bonds supported improved risk appetite," stated Lee.
"This ETH/BTC ratio has moved up during crypto bull cycles, driven by increasing use of Ethereum relative to bitcoin. These prior cycles were fueled by ICOs (2017-2018), NFTs (2020-2021), and stablecoins (2025). In this upcoming crypto cycle, we see the ETH/BTC ratio rising, driven by Wall Street tokenizing on the blockchain and by agentic-AI using blockchains," continued Lee.
"Over the past week, we acquired 32,447 ETH. Bitmine has bought ETH every week since the inception of the ETH Treasury Strategy on June 30, 2025 about 14 months ago," stated Lee.
On July 16, 2026, Bitmine released the latest Chairman's Message (link here) for July 2026. The title of the Message is "ETH is the cure for the Uncanny Valley of Wealth."
Earlier in 2026, Bitmine launched MAVAN (the Made in America VAlidator Network), the institutional-grade staking platform. While MAVAN was originally developed to support Bitmine's own Ethereum treasury, MAVAN intends to expand to serve institutional investors, custodians, and ecosystem partners seeking best-in-class staking infrastructure. A portion of Bitmine's ETH is already staked on the MAVAN platform.
As of August 23, 2026, Bitmine total staked ETH stands at 5,067,309 ($12.4 billion at $2,440 per ETH). "Bitmine has staked more ETH than other entities in the world. At scale (when Bitmine's ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward is $381 million on an annualized basis (using 2.67% 7-day BMNR yield)," stated Lee.
"Annualized staking revenues are now projected at $330 million. And this 5.1 million ETH is 87% of the 5.85 million ETH held by Bitmine. Bitmine's own staking operations generated a 7-day yield of 2.67% (annualized)," continued Lee.
Bitmine's crypto holdings reign as the #1 Ethereum treasury and #2 global treasury, behind Strategy Inc., which reportedly owns 840,447 BTC valued at approximately $70 billion. Bitmine remains the largest ETH treasury in the world.
Bitmine management believes the GENIUS Act and the Securities and Exchange Commission's (SEC) Project Crypto are as transformational to financial services in 2026 as the US action on August 15, 1971, which ended the Bretton Woods system and took the U.S. dollar off the gold standard 55 years ago. This 1971 event was the catalyst for the modernization of Wall Street, creating the iconic Wall Street titans and financial and payment rails of today. These proved to be better investments than gold.
The Chairman's message can be found here:
https://www.Bitminetech.io/chairmans-message
The Fiscal Full Year 2025 Earnings presentation and corporate presentation can be found here: https://Bitminetech.io/investor-relations/
To stay informed, please sign up at: https://Bitminetech.io/contact-us/
About Bitmine
Bitmine Immersion Technologies, Inc. (NYSE: BMNR), together with its subsidiaries ("Bitmine" or the "Company"), is a blockchain technology infrastructure company operating across institutional digital asset staking and validation services, bitcoin mining, and strategic digital asset management. As the world's leading Ethereum Treasury company, it implements an innovative digital asset strategy for institutional investors and public market participants. The Company provides institutional-grade staking and validation infrastructure—through which it earns staking rewards and validation income—alongside bitcoin mining activities. Bitmine holds digital assets strategically, generating yield on those holdings to support liquidity and capital formation. Since 2025, the Company has expanded its blockchain infrastructure capabilities, including developing and deploying MAVAN, its institutional staking and validation platform. The Company's activities further include investments in early-stage blockchain opportunities ("moonshot" investments) and ancillary mining, hosting, and consulting services.
For additional details, follow on X:
https://x.com/bitmnr
https://x.com/fundstrat
Forward Looking Statements
This press release contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements include all statements that are not purely historical and can generally be identified by terms such as "expects," "projects," "intends," "plans," "believes," "anticipates," "estimates," "forecasts," "targets," "goals," "may," "will," "would," "could," "should," "view," "see," or similar expressions, or the negative of such terms, or other comparable terminology. This press release specifically contains forward-looking statements regarding, among other things: (i) the Company's goal of acquiring 5% of the total ETH supply (the "Alchemy of 5%" initiative) and statements regarding its progress toward this goal; (ii) the Company's digital asset accumulation and treasury strategy, including statements regarding continued weekly ETH acquisitions and the Company's status as the largest ETH treasury in the world; (iii) the Company's staking operations, including projected annualized ETH staking rewards of approximately $381 million at scale (assuming Bitmine's ETH is fully staked by MAVAN and its staking partners), currently projected annualized staking revenues of approximately $330 million, and the 7-day yield of 2.67% (annualized); (iv) MAVAN's intended expansion to serve institutional investors, custodians, and ecosystem partners seeking best-in-class staking infrastructure, and its intended position as a premier Ethereum staking destination for institutional investors; (v) expectations regarding future ETH price performance, including statements that ETH's recent weekly gain of more than 30% signals "a launch point for a larger move in ETH" and references to subsequent gains of +167% and +170% following prior comparable weekly gains; (vi) management's expectation that easing financial conditions will be "a tailwind for crypto" and that the recent upside move in ETH "was overdue given the strengthening fundamentals in crypto," including the anticipated effects of Wall Street tokenization, agentic-AI, signals of White House support for crypto, and Treasury purchases of long-term bonds; (vii) statements and expectations regarding the ETH/BTC ratio, including that the ratio will rise in the upcoming crypto cycle driven by Wall Street tokenizing on the blockchain and by agentic-AI using blockchains; (viii) management's belief that the GENIUS Act and SEC Project Crypto are "as transformational to financial services" as the end of the Bretton Woods system in 1971, and that the resulting investments will prove better than gold; (x) statements regarding the Company's investment in Eightco Holdings (NASDAQ: ORBS) as providing indirect exposure to OpenAI, and its investment in Beast Industries; and (xi) the future growth, advancement, and strategic direction of the Company's Ethereum treasury strategy, blockchain infrastructure capabilities, and MAVAN staking platform.
These forward-looking statements involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors that could cause or contribute to such differences include, but are not limited to: the extreme volatility and unpredictability of digital asset prices, including ETH and Bitcoin, and the speculative nature of digital asset investments; the risk that historical ETH price movements, including prior weekly gains and the price appreciation that followed them, will not recur or are not indicative of future performance; the Company's reliance on third-party pricing sources and reported market values in calculating the value of its crypto, cash, marketable securities, and "moonshot" holdings, and the risk that such values fluctuate materially after the date and time referenced in this release; changes in market conditions affecting the trading price of the Company's common stock and Series A Preferred Stock; the Company's ability to successfully execute its digital asset acquisition strategy and achieve its ETH accumulation targets, including the "Alchemy of 5%" goal; the Company's ability to finance its business operations, Ethereum treasury operations, and MAVAN expansion; operational, security, and technological risks associated with the Company's staking and validation operations, including network failures, slashing events, cybersecurity breaches, and protocol changes; the risk that actual staking participation, yields, rewards, and revenues differ materially from the projected amounts described in this release, which are based on a 7-day yield and assume ETH is fully staked at scale; competition in the digital asset treasury, staking, and mining industries; the Company's dependence on key personnel, including executive leadership; regulatory developments affecting digital assets, blockchain technology, and staking activities in the United States and globally, including the ultimate enactment, implementation, and interpretation of the GENIUS Act and other pending legislation and regulatory initiatives; actions by the SEC, CFTC, and other regulatory bodies affecting digital assets and related businesses; risks related to the Company's investments in early-stage blockchain opportunities ("moonshot" investments), including the investments in Eightco Holdings and Beast Industries and any indirect exposure to OpenAI; macroeconomic factors, including inflation, interest rates, Federal Reserve monetary policy, labor market conditions, and general economic conditions affecting investor sentiment toward digital assets; the accuracy of management's expectations regarding the ETH/BTC ratio and the impact of tokenization and agentic-AI applications on Ethereum; the unpredictability of cryptocurrency market cycles and the accuracy of expectations regarding future crypto cycles; changes to the Ethereum protocol, including staking mechanics, validator requirements, and reward structures; risks related to AI systems and their potential impact on cryptocurrency markets and blockchain technology; the performance of third-party service providers, exchanges, custodians, and staking partners; risks related to the concentration of the Company's assets in digital currencies, particularly Ethereum; and the other risk factors described in the Company's filings with the SEC.
The forward-looking statements contained in this press release are based on information available to management as of the date of this release and reflect management's current expectations, estimates, forecasts, projections, views, and beliefs concerning future events and circumstances. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, including those described above and in the Risk Factors section of the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2025 filed with the SEC on November 21, 2025, the Company's Quarterly Reports on Form 10-Q, and the Company's other filings with the SEC, as amended or updated from time to time. Copies of these filings are available on the SEC's website at www.sec.gov and on the Company's website at https://Bitminetech.io/investor-relations/. The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Bitmine expressly disclaims any obligation or undertaking to update, revise, or supplement any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statements are based, except as required by applicable law or regulation.
Coinbase za posledních 6 měsíců klesla o 0,1 % a zaostala za odvětvím i S&P 500. Akcie se obchodují na 70,7násobku očekávaných zisků, zatímco slabší ceny kryptoměn tlačí na zisky.
Key Takeaways Coinbase shares slipped 0.1% in six months, lagging the industry, sector and S&P 500 composite.COIN trades at 70.7X forward earnings versus the industry's 16.5X average, reflecting a premium valuation.Coinbase is expanding globally and into tokenized assets, but weaker crypto prices are pressuring profits. Shares of Coinbase Global (COIN - Free Report) have dipped 0.1% in the past six months, underperforming the industry, sector and the Zacks S&P 500 composite.
Coinbase, a leading player in the crypto space, is well-positioned to gain from expanding its range of listed digital assets and tokenized equities, along with its international growth and strategic acquisitions. The company has been actively pursuing initiatives that support CEO Brian Armstrong’s vision of evolving Coinbase into an “everything exchange,” delivering a comprehensive suite of digital financial services.
COIN vs. Industry, Sector, S&P 500 in 6 Months
Image Source: Zacks Investment Research
Its peers, Robinhood Markets (HOOD - Free Report) and Interactive Brokers Group, Inc. (IBKR - Free Report) , two crypto-oriented companies, have gained 33.4% and 26.5%, respectively, in the past six months.
Pessimistic Analyst Sentiment for COINThe Zacks Consensus Estimate for 2026 is pegged at a loss of 5 cents per share, a nosedive from earnings of $1.41 expected 30 days ago. The consensus estimate for 2027 earnings has moved 16% south in the past 30 days.
Image Source: Zacks Investment Research
Consensus estimates for Robinhood Markets’ 2026 and 2027 EPS have moved south in the past 30 days. However, the same for Interactive Brokers Group witnessed no movement in the same time frame.
Growth Projections for COINThe Zacks Consensus Estimate for 2026 revenues indicates a year-over-year decrease, while for EPS it indicates an increase. However, the consensus estimate for 2027 revenues implies a year-over-year increase, but EPS reflects a decrease. Long-term earnings are expected to improve 3.1%, lower than the industry average of 7.5%.
COIN Is ExpensiveCOIN shares are trading at a premium to the industry. Its 12-month forward price-to-earnings of 70.7X is much higher than the industry average of 16.5X and the median of 53.71X over the past three years.
Image Source: Zacks Investment Research
Its Value Score of D suggests that the stock is not cheap and indicates a stretched valuation at this moment.
COIN is more expensive than both Robinhood Markets and Interactive Brokers Group.
Investment Thesis for COIN StockInternational expansion also supports this strategy. Coinbase operates across Australia, Brazil, Kenya, the European Union, India, Japan, the Philippines, Indonesia, Singapore, the U.K. and Switzerland, helping diversify revenues and reduce dependence on the U.S. market. In the U.K., the company recently launched futures, perpetuals and options for professional investors, broadening its institutional offering and strengthening its position as a multi-asset trading venue.
Coinbase is further expanding through additional cryptocurrencies and tokenized equities. Regulatory approval to establish an international tokenization hub in Abu Dhabi positions the company to benefit from the migration of traditional financial assets onto blockchain infrastructure. Tokenized securities could eventually generate opportunities across issuance, custody, trading and settlement.
In 2026, Coinbase plans to prioritize real-world asset perpetuals, specialized exchanges, advanced trading tools, decentralized finance infrastructure, and AI- and robotics-driven innovation. Its continued strategic initiatives suggest that this broader expansion remains on track.
Despite maintaining strong liquidity and relatively low leverage, Coinbase remains vulnerable to crypto market volatility, rising operating expenses, impairment charges and restructuring costs tied to weaker digital asset prices.
Though Coinbase is gaining market share, given the weakening crypto market, the same is not translating into strong profits. The last reported quarter slumped with declining revenues, softer consumer trading dragging transaction revenues and lower crypto prices weighing on assets on the platform.
What Should Investors Do?Coinbase is well-positioned for growth through its continued efforts to expand the crypto ecosystem, gain additional spot trading market share across both retail and institutional segments, and strengthen its platform capabilities. Rising average USDC balances, growth in USDC market capitalization and relatively stable cryptocurrency prices could also contribute to more consistent revenue generation.
Nevertheless, the stock’s premium valuation, softer market volatility, weaker digital asset prices, cautious analyst sentiment, near-term pressure on revenues and earnings, and below-average return on equity suggest a cautious outlook. Given these factors, it is better to shy away from this Zacks Rank #5 (Strong Sell) stock at the moment.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Akcie Coinbase v předobchodní fázi vyskočily o 8 % po obnovené podpoře Trumpovy administrativy pro CLARITY Act a prudkém oživení kryptoměn. Bitcoin se dostal nad 70 000 USD.
Coinbase shares surged 8% in premarket trading Thursday as a sharp rebound in cryptocurrency prices combined with renewed support from the Trump administration for industry regulation.
The move came after President Donald Trump met with senior cryptocurrency executives at the White House, including Coinbase CEO Brian Armstrong, and called on Congress to pass the CLARITY Act.
The rally also followed the US Treasury Department’s decision to expand buyback operations for longer-dated government securities in an attempt to support market liquidity and ease rising borrowing costs.
At the same time, a wave of forced liquidations across the crypto market intensified the rally.
Bitcoin climbed above $70,000 for the first time since early June, while several major altcoins posted even larger gains.
The combination gave crypto-related equities a fresh boost after a period of weakness, with Coinbase emerging as one of the biggest beneficiaries because of its direct exposure to trading activity and digital-asset prices.
Strategy, Bitmine Immersion Technology, Circle all gained.
“The move towards $70,000, triggered by short-covering, suggests buyers are regaining confidence, although the rally now faces a crucial test of whether it can sustain momentum and challenge the $75,000 region,” said Axel Rudolph, chief technical analyst at investing and trading platform IG.
Trump's meeting with crypto executives provided an important policy catalyst for the crypto trade.
The CLARITY Act is designed to establish clearer definitions for digital assets, including determining which tokens should be classified as securities and which should be treated as commodities.
It would also clarify the respective regulatory roles of the Securities and Exchange Commission and the Commodity Futures Trading Commission.
For crypto businesses such as Coinbase, the legislation could reduce one of the industry's biggest challenges: uncertainty over which rules apply to different digital assets.
Trump urged lawmakers to advance what he described as a "fair version of the Clarity Act", as the legislation remains stalled in the Senate with limited time remaining on the congressional calendar.
"Now we need Congress to take the next step by passing the Clarity Act — fair version of the Clarity Act," Trump said in remarks at the event.
Armstrong has separately forecast a bipartisan congressional vote on the legislation on September 15, 2026.
He has suggested that passage could help set the stage for another crypto market rally in October.
Several other industry executives attended the White House event, including Robinhood CEO Vlad Tenev, Kraken co-CEO Arjun Sethi and Intercontinental Exchange CEO Jeffrey Sprecher.
SEC Chair Paul Atkins, CFTC Chair Mike Selig and White House crypto adviser Patrick Witt also participated.
According to CoinGlass data, about $3.3 billion in leveraged cryptocurrency positions were liquidated over a 24-hour period.
Short positions accounted for approximately $3 billion of those liquidations.
Bitcoin and Ethereum accounted for much of the activity, with about $1.15 billion and $1.73 billion of positions liquidated.
The forced unwinding of bearish bets can accelerate price increases because traders whose positions move against them are required to buy assets to close their trades.
Those purchases can push prices higher and trigger further liquidations.
Bitcoin's move above $70,000 therefore became an important psychological milestone for the market, potentially encouraging additional institutional and retail participation.
But Bitcoin was not the strongest performer among major cryptocurrencies.
Ethereum rose nearly 20% over 24 hours to about $2,200, according to CoinGecko.
XRP climbed more than 15%, while Solana gained more than 13%.
The scale of the liquidation event made it the largest of 2026 and the third-largest crypto liquidation event over the past year, according to the data provided.
The White House summit came as US regulators also move toward clearer rules for digital assets.
The SEC on Tuesday proposed long-awaited rules that would exempt certain token offerings from securities regulations, potentially making it easier for crypto companies to issue tokens and raise capital.
The CFTC is also scheduled to discuss cryptocurrency regulation at an industry gathering on Thursday.
That regulatory activity could prove particularly important for Coinbase, which has repeatedly argued that clearer rules would allow crypto companies to operate with greater certainty in the US.
The exchange's fortunes are closely tied to trading activity across the cryptocurrency market, meaning stronger prices and higher transaction volumes can improve investor expectations for its revenue.
However, the CLARITY Act has not yet passed Congress, meaning the regulatory catalyst remains dependent on lawmakers reaching an agreement.
For now, investors are betting on a combination of stronger crypto prices, forced short covering and the possibility of a more supportive regulatory framework.
Coinbase vykázala ve 2. čtvrtletí čistou ztrátu 359,5 mil. USD a upravenou ztrátu 0,39 USD na akcii, hluboko pod odhady trhu. Tržby 1,22 mld. USD také zaostaly za očekáváním.
Coinbase Global (COIN - Free Report) ) has spent the past several years establishing itself as one of the dominant gateways to the cryptocurrency economy. The company continues to expand beyond traditional spot crypto trading, with growing businesses in derivatives, stablecoins, payments, prediction markets, and subscription services.
But while the long-term story may remain intriguing, the near-term earnings picture has deteriorated considerably.
Coinbase stock currently lands a Zacks Rank #5 (Strong Sell), reflecting a wave of negative earnings estimate revisions following a disappointing second-quarter report.
Image Source: Zacks Investment Research
Q2 Misses the MarkCoinbase delivered a rough second quarter, reporting a GAAP net loss of $359.5 million.
The company reported an adjusted loss of $0.39 per share, significantly below the consensus estimate that called for earnings of $0.14 per share and down from EPS of $0.12 in the prior year quarter.
That translated to a negative earnings surprise of 378%. Revenue of $1.22 billion also missed Q2 expectations of $1.29 billion by nearly 6% and declined more than 18% from $1.49 billion in the year-ago period.
The underlying operating metrics provided little comfort.
Monthly Transacting Users fell to 7.6 million from 8.7 million a year earlier and came in below the 8.15 million consensus estimate. Assets on Platform totaled $245.9 billion versus expectations near $295 billion. Meanwhile, transaction revenue declined more than 21% year over year to roughly $599 million.
Consumer transaction revenue was particularly weak, falling approximately 31% YoY.
More concerning is that Coinbase has now missed earnings expectations in three of its last four quarterly reports with a very dismal average EPS surprise of -128.56%.
Image Source: Zacks Investment Research
Earnings Estimates Head SouthThe most concerning development for investors has been the dramatic deterioration in earnings expectations.
Immediately following Coinbase's Q2 report in late July, the Zacks Consensus Estimate had called for fiscal 2026 earnings of $1.41 per share. The current consensus has now fallen all the way to a loss of $0.05 per share (F1 below). Notably, current year sales are expected to decline 29% to $5.09 billion.
In fact, when Coinbase was added to the Zacks Rank #5 (Strong Sell) list earlier this month, the consensus estimate for FY26 had fallen more than 81% over the preceding 60 days.
And the revisions have continued to decline since then, as FY26 EPS estimates are now down more than 102% in the last 60 days from projections of $1.74, with FY27 EPS estimates dropping 25% from projections of $4.79 to $3.59.
Image Source: Zacks Investment Research
As shown in the above “Q1” column, the EPS outlook for the current quarter has been slashed by more than 90%.
The current Zacks Consensus Estimate calls for earnings of just $0.04 per share in Q3, while the Most Accurate and recent estimate among Wall Street analysts sits at a loss of $0.33 per share and even further below the underlying consensus (Current Qtr below).
As also pictured below, Wall Street expects Coinbase to widely miss earnings expectations next quarter as well, with the Most Accurate Estimate having Q4 EPS slated at $0.06 compared to the underlying consensus of $0.46.
Image Source: Zacks Investment Research
Bottom LineCoinbase holds a prominent position in the crypto ecosystem and continues to broaden its platform well beyond its roots as a spot cryptocurrency exchange. Stablecoins, derivatives, payments, and other products could ultimately produce a more diversified business model.
But the Zacks Rank is focused primarily on earnings estimate revisions and their implications for near-term stock performance.
On that front, Coinbase is moving decisively in the wrong direction.
A significant Q2 earnings miss has been followed by aggressive reductions in EPS and revenue expectations, with analysts now forecasting virtually no earnings for 2026.
With estimates continuing to move south and COIN currently carrying a Zacks Rank #5 (Strong Sell), investors may want to steer clear of Coinbase stock until the earnings outlook begins to stabilize.
Coinbase vstoupila do prediction markets přes Kalshi a chce tím snížit závislost na objemech obchodování s kryptem. Firma zároveň koupila The Clearing Company pro vývoj škálovatelné infrastruktury.
Key Takeaways COIN entered prediction markets through Kalshi, adding event contracts across sports, politics and more.Prediction markets could reduce Coinbase Global's dependence on crypto volumes tied closely to asset prices.COIN acquired The Clearing Company to build scalable prediction-market infrastructure. For Coinbase Global (COIN - Free Report) , prediction markets are emerging as a new growth pillar, expanding the company’s addressable market and accelerating its transition into an “everything exchange.” Coinbase entered the prediction-market space in November 2025 through a partnership with Kalshi, a regulated U.S. exchange that enables users to trade on outcomes of real-world events, including elections, inflation, sports and scientific developments.
Prediction-market volumes have surged amid rising retail participation, sports-related activity, political events and demand for real-time information. As event contracts can generate trading activity regardless of cryptocurrency-market direction, they could reduce Coinbase’s dependence on crypto trading volumes, which remain highly correlated with asset prices.
Prediction markets also reinforce Coinbase’s “everything exchange” flywheel. Through a single account, customers can hold cash and USDC, trade cryptocurrencies, equities and derivatives, and express views on real-world outcomes.
To strengthen its position, Coinbase acquired The Clearing Company, a prediction-market specialist, bringing dedicated product and growth expertise in-house. The acquisition should accelerate Coinbase’s product roadmap and support the development of regulated, scalable prediction-market infrastructure, rather than leaving the company solely dependent on third-party distribution.
Although still at an early stage, prediction markets provide Coinbase with an attractive entry into the fast-growing event-based trading market. Over time, the segment could increase trading frequency, diversify revenues, improve customer retention and establish Coinbase as a single destination for multiple financial markets.
What About COIN’s Peers?Robinhood Markets (HOOD - Free Report) stays focused on accelerating growth through rapid product innovation and global expansion. Robinhood has been engaging in opportunistic acquisitions to deepen its footprint and expand its product reach within the United States and globally. Robinhood also noted that AI features and fast rollouts are increasing engagement, premium monetization and retention, while stronger tools attract both retail and advanced traders.
Interactive Brokers (IBKR - Free Report) continues to explore growth opportunities in the emerging markets of Taiwan, Mexico and India. Given the rapid growth of its European business, Interactive Brokers has substantially expanded its operations there. Interactive Brokers has been undertaking several measures to enhance its global presence.
COIN’s Price PerformanceShares of COIN have lost 34.9% in the year-to-date period, underperforming the industry.
Image Source: Zacks Investment Research
COIN’s Expensive ValuationCOIN trades at a price-to-earnings ratio of 67.03, significantly above the industry average of 16.69.
Image Source: Zacks Investment Research
Estimate Movement for COINThe Zacks Consensus Estimate for COIN’s third-quarter and fourth-quarter 2026 earnings per share (EPS) witnessed southbound movement in the last 30 days. The same holds true for 2026 and 2027.
Image Source: Zacks Investment Research
The consensus estimates for COIN’s 2026 revenues and earnings indicate year-over-year decreases. Nonetheless, the consensus estimates for 2027 revenues and earnings imply year-over-year increases.
COIN stock currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Bitmine Immersion Technologies uvedla, že drží 5 815 164 ETH a její celková kryptoaktiva, hotovost a likvidní cenné papíry mají hodnotu 11,4 miliardy dolarů. Firma také za uplynulý týden odkoupila zpět 1,7 milionu akcií.
Bitmine bezit 4,8% van het totale ETH-aanbod van 120,7 miljoen
Bitmine heeft in slechts 14 maanden 96% van het doel van de 'Alchemy of 5%' bereikt
In juli presteerde ETH 2.500 basispunten beter dan de Nasdaq 100, het grootste verschil sinds juli 2025, wat wijst op de steeds sterker wordende fundamentele basis van crypto
Bitmine heeft de afgelopen week 1,7 miljoen gewone aandelen teruggekocht en heeft sinds juli 2026 in totaal meer dan 20,8 miljoen aandelen teruggekocht via het eerder aangekondigde aandeleninkoopprogramma van 4 miljard dollar.
Bitmine werd op 26 juni 2026 opgenomen in de Russell 1000 Large-cap Index
De preferente aandelen van serie A van Bitmine worden op de NYSE verhandeld onder het symbool BMNP
Bitmine heeft 5.067.309 gestakete ETH, wat een waarde vertegenwoordigt van 9,6 miljard dollar bij een koers van 1.893 dollar per ETH. MAVAN (Made in America VAlidator Network) is een toonaangevend Ethereum-stakingplatform voor BMNR en institutionele beleggers
Bitmine bezit voor 73 miljoen dollar aan Eightco-aandelen (NASDAQ: ORBS), nu een van de weinige beursgenoteerde ondernemingen wereldwijd die beleggers indirecte blootstelling aan OpenAI bieden
De totale waarde van de cryptobezittingen, liquide middelen, verhandelbare effecten en 'moonshot'-investeringen van Bitmine bedraagt 11,4 miljard dollar, waaronder 5,82 miljoen ETH-tokens, in totaal 78 miljoen dollar aan liquide middelen en verhandelbare effecten, en andere cryptobezittingen
Bitmine wordt ondersteund door een vooraanstaande groep institutionele beleggers, waaronder Cathie Wood van ARK, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital en privébelegger Thomas 'Tom' Lee, bij zijn doel om 5% van alle ETH te verwerven
, /PRNewswire/ -- (NYSE: BMNR) Bitmine Immersion Technologies, Inc. ('Bitmine' of de 'onderneming'), een Bitcoin- en Ethereum-netwerkonderneming met een focus op het opbouwen van cryptobezittingen voor langetermijninvesteringen, maakte vandaag bekend dat de totale waarde van zijn cryptobezittingen, liquide middelen en verhandelbare effecten, en 'moonshot'-investeringen 11,4 miljard dollar bedraagt.
Bitmine Weekly Update
ETH/BTC ratio: Moving above a 1-year downtrend
ETH/BTC ratio: Future tailwinds of Tokenization and AI
STAKING: BMNR now staking over 5 million ETH as of August 16, 2026
Op 16 augustus 2026 om 21.30 uur (ET) bestaan de crypto-holdings van de onderneming uit 5.815.164 ETH tegen een koers van 1.893 dollar per ETH (via CoinbaseNASDAQ: COIN), 210 Bitcoin (BTC), een belang van 180 miljoen dollar in Beast Industries, een belang van 73 miljoen dollar in Eightco Holdings (NASDAQ: ORBS) ('moonshots') en een totaal aan liquide middelen en verhandelbare effecten van 78 miljoen dollar. De ETH-bezittingen van Bitmine vertegenwoordigen 4,8% van het totale ETH-aanbod van 120,7 miljoen ETH.
"We zijn verheugd om te zien dat de ETH/BTC-ratio 0,02994 is en stijgt. Deze ratio is gestegen boven de neerwaarste trend op lange termijn over de laatste jaren en is volgens ons een teken dat markten de materialisatie van tokenisatie en agentic-AI applicaties beginnen te zien, wat tot voordeel zou moeten strekken voor Ethereum", aldus Thomas 'Tom' Lee, voorzitter van Bitmine. "We verwachten dat versoepelende financiële omstandigheden een rugwind zullen zijn voor crypto."
"Deze ETH/BTC-ratio is gestegen tijdens "crypto bull"-cycli, aangedreveven door hoger gebruik van Ethereum ten opzichte van bitcoin. Deze vorige cycli werden aangespoord door ICO's (2017-2018), NFT's (2020-2021), en stablecoins (2025). In de komende crypto-cyclus zien we de ETH/BTC-ratio stijgen, aangedreven door tokeniseren van Wall Street op de blockchain en door agentic-AI die blockchains gebruikt", vervolgde Lee.
"We blijven van mening dat de gewone aandelen van Bitmine ondergewaardeerd zijn en het bedrijf heeft de afgelopen week 1,7 miljoen aandelen teruggekocht, waardoor het totale aantal teruggekochte gewone aandelen sinds begin juli op meer dan 20,8 miljoen komt. Dit blijft de grootste aandeleninkoop ooit door een Ethereum-, Bitcoin- of andere crypto-DAT (Digital Asset Treasury)", vervolgde Lee. Sinds 1 juli 2026 heeft Bitmine 20,8 miljoen gewone aandelen teruggekocht in het kader van het eerder goedgekeurde aandeleninkoopprogramma van 4 miljard dollar.
"In de afgelopen week hebben we 9.926 ETH aangekocht. Bitmine heeft sinds de start van de ETH-treasurystrategie op 30 juni 2025, ongeveer 14 maanden geleden, elke week ETH gekocht", aldus Lee.
Op 16 juli 2026 heeft Bitmine de meest recente boodschap van de bestuursvoorzitter voor juli 2026 gepubliceerd (link hier). De titel van de boodschap luidt: "ETH is de remedie voor de Uncanny Valley of Wealth".
Eerder in 2026 lanceerde Bitmine MAVAN (het Made in America VAlidator Network), een stakingplatform van institutioneel niveau. Hoewel MAVAN oorspronkelijk werd ontwikkeld ter ondersteuning van Bitmine's eigen Ethereum-treasury, is MAVAN van plan het platform uit te breiden om ook institutionele beleggers, custodians en ecosysteempartners die op zoek zijn naar stakinginfrastructuur van topklasse van dienst te zijn. Een deel van Bitmine's ETH is al gestaket op het MAVAN-platform.
Op 16 augustus 2026 bedroeg het totale aantal door Bitmine gestakete ETH 5.067.309 (9,6 miljard dollar bij een koers van 1.893 dollar per ETH). "Bitmine heeft meer ETH gestaket dan enige andere partij ter wereld. Op volle schaal, wanneer alle ETH van Bitmine via MAVAN en zijn stakingpartners is gestaket, zullen de ETH-stakingbeloningen naar verwachting 287 miljoen dollar op jaarbasis bedragen (uitgaande van een zevendaags BMNR-rendement van 2,61%)", aldus Lee.
"De stakinginkomsten op jaarbasis worden nu geraamd op 250 miljoen dollar. Deze 5,1 miljoen ETH vertegenwoordigen 87% van de 5,82 miljoen ETH die Bitmine aanhoudt. De eigen stakingactiviteiten van Bitmine realiseerden een rendement over 7 dagen van 2,61% (op jaarbasis)", vervolgde Lee.
De cryptobezittingen van Bitmine maken het bedrijf tot de grootste Ethereum-treasury en de op één na grootste treasury ter wereld, na Strategy Inc., dat naar verluidt 840.447 BTC bezit met een waarde van ongeveer 58 miljard dollar. Bitmine blijft de grootste ETH-treasury ter wereld.
Het management van Bitmine is van mening dat de GENIUS Act en Project Crypto van de Amerikaanse Securities and Exchange Commission (SEC) in 2026 net zo ingrijpend zijn voor de financiële dienstverlening als het besluit van de Verenigde Staten van 15 augustus 1971, waarmee 55 jaar geleden een einde werd gemaakt aan het Bretton Woods-systeem en de koppeling van de Amerikaanse dollar aan goud werd losgelaten. Deze gebeurtenis in 1971 vormde de katalysator voor de modernisering van Wall Street en leidde tot het ontstaan van de huidige toonaangevende spelers op Wall Street en de huidige financiële en betalingsinfrastructuur. Deze bleken uiteindelijk betere investeringen dan goud.
Het bericht van de bestuursvoorzitter vindt u hier:
https://www.Bitminetech.io/chairmans-message
De resultatenpresentatie voor het volledige boekjaar 2025 en de ondernemingspresentatie vindt u hier: https://Bitminetech.io/investor-relations/
Om op de hoogte te blijven, kunt u zich aanmelden via: https://Bitminetech.io/contact-us/
Over Bitmine
Bitmine Immersion Technologies, Inc. (NYSE: BMNR), samen met zijn dochterondernemingen ('Bitmine' of de 'onderneming') vormen een onderneming voor blockchaintechnologie-infrastructuur die actief is op het gebied van institutionele staking- en validatiediensten voor digitale activa, en strategisch beheer van digitale assets. Als 's werelds toonaangevende onderneming op het gebied van Ethereum-treasury's hanteert Bitmine een innovatieve strategie voor digitale activa, gericht op institutionele beleggers en deelnemers aan de openbare kapitaalmarkten. De onderneming biedt staking- en validatie-infrastructuur van institutionele kwaliteit, waarmee ze stakingbeloningen en inkomsten uit validatie genereert, en houdt zich daarnaast bezig met bitcoinmining. Bitmine houdt digitale activa strategisch aan en genereert rendement op die activa ter ondersteuning van de liquiditeit en kapitaalvorming. Sinds 2025 heeft de onderneming haar capaciteiten op het gebied van blockchaininfrastructuur uitgebreid, waaronder de ontwikkeling en implementatie van MAVAN, haar institutionele platform voor staking en validatie. De activiteiten van de onderneming omvatten verder investeringen in veelbelovende blockchainprojecten in een vroege fase ('moonshot'-investeringen), evenals aanvullende diensten op het gebied van mining, hosting en consultancy.
Volg voor aanvullende informatie op X:
https://x.com/bitmnr
https://x.com/fundstrat
Toekomstgerichte verklaringen
Dit persbericht bevat verklaringen die kunnen worden aangemerkt als 'toekomstgerichte verklaringen' in de zin van de Private Securities Litigation Reform Act van 1995, zoals gewijzigd. Toekomstgerichte verklaringen omvatten alle verklaringen die niet uitsluitend historisch van aard zijn en die over het algemeen kunnen worden herkend aan termen zoals 'verwacht', 'raamt', 'is van plan', 'plant', 'gelooft', 'anticipeert', 'schat', 'voorspelt', 'streeft naar', 'doelstellingen', 'kan', 'zal', 'zou', 'zou kunnen', 'zou moeten', 'beschouwen', 'zien, of soortgelijke uitdrukkingen, of de ontkenning van dergelijke termen, of andere vergelijkbare terminologie. Dit persbericht bevat specifiek toekomstgerichte verklaringen met betrekking tot onder meer: (i) de doelstelling van het bedrijf om 5% van de totale ETH-aanbod te verwerven (het initiatief 'Alchemy of 5%') en verklaringen over de voortgang richting deze doelstelling; (ii) de accumulatie van digitale activa en de treasurystrategie van het bedrijf, waaronder verklaringen over de voortzetting van wekelijkse ETH-aankopen en de status van het bedrijf als de grootste ETH-treasury ter wereld; (iii) de stakingactiviteiten van het bedrijf, waaronder verwachte geannualiseerde ETH-stakingbeloningen van ongeveer 287 miljoen dollar (ervan uitgaande dat de ETH van Bitmine volledig wordt gestaket door MAVAN en zijn stakingpartners op volle schaal), de huidige verwachte geannualiseerde stakinginkomsten van ongeveer 250 miljoen dollar en het rendement over 7 dagen van 2,61% (geannualiseerd; (iv) de beoogde uitbreiding van MAVAN om institutionele beleggers, custodians en ecosysteempartners te bedienen die op zoek zijn naar stakinginfrastructuur van topniveau; (v) het aandeleninkoopprogramma van het bedrijf ter waarde van 4 miljard dollar, waaronder verklaringen over de uitvoering, omvang en mogelijke waardeverhogende impact van een dergelijk programma; (vi) de opvattingen van het management over de waardering van de gewone aandelen van de onderneming en de karakterisering van deze aandelen als "ondergewaardeerd"; (vii) verwachtingen inzake de relatie tussen de prestaties van ETH ten opzichte van Bitcoin of de Nasdaq 100, waaronder verklaringen dat ETH beter presteerde dan de Nasdaq 100 met 2.500 basispunten in juli 2026 als "wat wijst op de steeds sterker wordende fundamentele basis van crypto"; (viii) de verwachting van het management dat versoepelende financiële omstandigheden "een rugwind zullen zijn voor crypto"; (ix) verklaringen en verwachtingen over de ETH/BTC-ratio, waaronder dat markten "de materialisatie van tokenisatie en agentic-AI applicaties beginnen te zien, wat tot voordeel zou moeten strekken voor Ethereum" en dat de ETH/BTC-ratio zal stijgen in de komende crypto-cyclus aangedreven door tokenisering van Wall Street en agentic-AI die blockchains gebruiken; (x) de overtuiging van het management dat de GENIUS Act en SEC Project Crypto "een even transformerende impact hebben op financiële diensten" als het einde van het Bretton Woods systeem in 1971; (xi) verklaringen over de investering van de onderneming in Eightco Holdings (NASDAQ: ORBS) als een investering die indirecte blootstelling aan OpenAI biedt; en (xi) de toekomstige groei, ontwikkeling en strategische richting van de Ethereum-treasurystrategie, de blockchaininfrastructuurcapaciteiten en het MAVAN-stakingplatform van de onderneming.
Deze toekomstgerichte verklaringen brengen aanzienlijke risico's en onzekerheden met zich mee die ertoe kunnen leiden dat de werkelijke resultaten wezenlijk afwijken van de resultaten die hierin worden uitgedrukt of geïmpliceerd. Factoren die dergelijke verschillen kunnen veroorzaken of daaraan kunnen bijdragen, omvatten onder meer, maar zijn niet beperkt tot: de extreme volatiliteit en onvoorspelbaarheid van prijzen van digitale activa, waaronder ETH en Bitcoin en de speculatieve aard van investeringen in digitale activa; veranderingen in marktomstandigheden die van invloed zijn op de handelsprijs van de gewone aandelen en preferente aandelen van serie A van het bedrijf; het vermogen van het bedrijf om zijn strategie voor de verwerving van digitale activa succesvol uit te voeren en zijn doelstellingen voor de opbouw van ETH-bezittingen te behalen, waaronder de doelstelling "Alchemie van 5%"; het vermogen van het bedrijf om zijn bedrijfsactiviteiten, Ethereum-treasuryactiviteiten, de uitbreiding van MAVAN en aandeleninkoopactiviteiten te financieren; operationele, beveiligings- en technologische risico's verbonden aan de staking- en validatieactiviteiten van het bedrijf, waaronder netwerkstoringen, cyberbeveiligingsinbreuken en protocolwijzigingen; concurrentie in de sectoren van digitale-activatreasury's, staking en mining; de afhankelijkheid van het bedrijf van belangrijke medewerkers, waaronder de leidinggevenden; regelgevende ontwikkelingen die van invloed zijn op digitale activa, blockchaintechnologie en stakingactiviteiten in de Verenigde Staten en wereldwijd, waaronder de uiteindelijke goedkeuring, implementatie en interpretatie van de GENIUS Act, CLARITY Act en andere aanhangige wetgeving en regelgevende initiatieven; acties van de SEC, CFTC en andere toezichthoudende instanties die van invloed zijn op digitale activa en aanverwante activiteiten; risico's verbonden aan de investeringen van het bedrijf in blockchainmogelijkheden in een vroeg stadium ('moonshot'-investeringen), waaronder de investering in Eightco Holdings; macro-economische factoren, waaronder inflatie, rentetarieven, het monetaire beleid van de Federal Reserve en algemene economische omstandigheden die van invloed zijn op het beleggerssentiment ten aanzien van digitale activa; de nauwkeurigheid van de verwachtingen van het management over de ETH/BTC-ratio en de impact van tokenisatie en agentic-AI applicaties op Ethereum; de onvoorspelbaarheid van cryptomarktcycli en de nauwkeurigheid van verwachtingen over toekomstige crypto-cycli; wijzigingen in het Ethereum-protocol, waaronder stakingmechanismen, vereisten voor validators en beloningsstructuren; risico's verbonden aan AI-systemen en hun mogelijke impact op cryptomarkten en blockchaintechnologie; de prestaties van externe dienstverleners, beurzen en custodians; risico's verbonden aan de concentratie van de activa van het bedrijf in digitale valuta's, voornamelijk Ethereum; en de overige risicofactoren beschreven in de documenten die het bedrijf bij de SEC heeft ingediend.
De toekomstgerichte verklaringen in dit persbericht zijn gebaseerd op informatie waarover het management beschikte op de datum van dit persbericht en weerspiegelen de huidige verwachtingen, ramingen, prognoses, meningen en overtuigingen van het management met betrekking tot toekomstige gebeurtenissen en omstandigheden. De werkelijke resultaten kunnen wezenlijk afwijken van de resultaten die in toekomstgerichte verklaringen worden uitgedrukt of geïmpliceerd op basis van een aantal factoren, waaronder de hierboven beschreven factoren en de factoren die zijn beschreven in het gedeelte Risicofactoren van het jaarverslag van het bedrijf op formulier 10-K voor het boekjaar dat eindigde op 30 september 2025, ingediend bij de SEC op 21 november 2025, de kwartaalverslagen van het bedrijf op formulier 10-Q en de overige documenten die het bedrijf bij de SEC heeft ingediend, zoals deze van tijd tot tijd worden gewijzigd of bijgewerkt. Kopieën van deze documenten zijn beschikbaar op de website van de SEC via [www.sec.gov] en op de website van het bedrijf via https://Bitminetech.io/investor-relations/. Het bedrijf waarschuwt lezers om niet overmatig te vertrouwen op dergelijke toekomstgerichte verklaringen, die alleen gelden op de datum waarop ze worden gedaan. Bitmine wijst uitdrukkelijk elke verplichting of toezegging af om toekomstgerichte verklaringen bij te werken, te herzien of aan te vullen om rekening te houden met wijzigingen in zijn verwachtingen of wijzigingen in gebeurtenissen, omstandigheden of situaties waarop dergelijke verklaringen zijn gebaseerd, behalve indien dit wordt vereist door toepasselijke wet- of regelgeving.
Key Takeaways Coinbase is expanding beyond spot trading through derivatives, global products and tokenization.COIN's Deribit integration aims to improve execution, liquidity and institutional trading infrastructure.Coinbase's Abu Dhabi tokenization hub could support issuance, custody, trading and settlement.
Coinbase Global’s (COIN - Free Report) growth story is increasingly extending beyond crypto prices and spot trading. The company is positioning itself as a global financial infrastructure platform for the next generation of markets through several strategic initiatives.
The integration of Deribit brings one of the world’s leading crypto derivatives platforms into Coinbase’s ecosystem. Now COIN is rolling out a new high-performance matching engine to enable faster execution, deeper liquidity, and the infrastructure demanded by sophisticated institutional traders. It also moves Coinbase closer to capturing a larger share of global derivatives activity.
Geographic expansion is another key growth driver. Coinbase has launched futures, perpetuals, and options for professional investors in the UK, providing institutional clients with access to a broader range of products. These offerings support the company’s evolution from a primarily crypto-focused exchange into a comprehensive, multi-asset trading venue.
Coinbase has also secured regulatory approval to establish an international tokenization hub in Abu Dhabi. This positions the company to participate in the migration of traditional financial assets onto blockchain infrastructure. Over time, tokenized securities could create substantial opportunities across issuance, custody, trading and settlement.
Together, these initiatives create a compelling growth narrative. Derivatives strengthen Coinbase’s trading engine, international expansion broadens its institutional reach, and tokenization opens a significant long-term market. COIN is steadily emerging as a core financial platform for the onchain economy.
What About Its Peers?Robinhood Markets (HOOD - Free Report) stays focused on accelerating growth through rapid product innovation and global expansion. Robinhood has been engaging in opportunistic acquisitions to deepen its footprint and expand its product reach within the United States and globally. Robinhood also noted that AI features and fast rollouts are increasing engagement, premium monetization and retention, while stronger tools attract both retail and advanced traders.
Interactive Brokers (IBKR - Free Report) continues to explore growth opportunities in the emerging markets of Taiwan, Mexico and India. Given the rapid growth of its European business, Interactive Brokers has substantially expanded its operations there. Interactive Brokers has been undertaking several measures to enhance its global presence.
COIN’s Price PerformanceShares of COIN have lost 33.5% in the year-to-date period, underperforming the industry.
Image Source: Zacks Investment Research
COIN’s Expensive ValuationCOIN trades at a price-to-earnings ratio of 67.86, significantly above the industry average of 17.05.
Image Source: Zacks Investment Research
Estimate Movement for COINThe Zacks Consensus Estimate for COIN’s third-quarter and fourth-quarter 2026 earnings per share (EPS) witnessed southbound movement in the last 30 days. The same holds true for 2026 and 2027.
Image Source: Zacks Investment Research
The consensus estimates for COIN’s 2026 revenues and earnings indicate year-over-year decreases. Nonetheless, the consensus estimates for 2027 revenues and earnings imply year-over-year increases.
COIN stock currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Coinbase Business nově umožňuje firmám přijímat platby od AI agentů přes x402; vypořádání probíhá okamžitě v USDC. Platforma už slouží více než 5 000 společnostem.
The Coinbase Business suite now allows businesses to get paid by artificial intelligence agents, Coinbase said in a Tuesday (Aug. 11) blog post.
“The same checkouts you already use can now accept payments from AI agents via x402, an open standard for machine-to-machine payments,” the company said in the post. “Funds settle instantly in USDC, land in your account, and are ready to earn rewards, or withdraw on demand.”
This capability is one of several features added to Coinbase Business in an upgrade announced in Tuesday’s blog post.
Other updates to Coinbase Business include the ability to accept Tether (USDT) through links, checkouts and invoices; the ability to reuse payment links rather than creating a new one for each customer; a flexible pricing option that lets the seller set a minimum, a maximum or leave it open and lets the buyer choose what they pay within those boundaries; the ability to reuse product details across payment links, checkouts and invoices when adding them to a product catalog; and the ability to collect the buyer’s name, email, shipping address and other details alongside the payment.
Coinbase announced in June 2025 that it had opened a waitlist for early access to Coinbase Business alpha and that the new platform would let startups and small businesses send and receive payments, manage crypto assets and automate financial workflows.
“Whether you’re a startup exploring crypto opportunities or a brick-and-mortar business looking to update the system, Coinbase Business is your modern financial command center,” Coinbase said at the time in a blog post.
In October, Coinbase said Coinbase Business was adding a B2B payments suite of tools designed to make USDC as easy to move as sending an email. This global payouts feature allows companies to send USDC to any on-chain address or directly to an email recipient.
For vendors or contractors without a crypto wallet, Coinbase automates the onboarding. Recipients receive an email link, create a free account and can instantly claim or cash out their funds in local currency.
Today, Coinbase Business serves more than 5,000 companies, and its payment acceptance suite has powered more than 100,000 payments, according to the Tuesday blog post.
Coinbase klesla v předobchodní fázi o 5,6 % po třetí po sobě jdoucí čtvrtletní ztrátě. Analytici ale věří, že diverzifikace do stablecoinů a retailových derivátů podpoří dlouhodobý růst.
Item 1 of 2 A smartphone with displayed Coinbase logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
[1/2]A smartphone with displayed Coinbase logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab
SummaryCompaniesAnalysts long-term support from stablecoins, retail derivatives Coinbase shares have lost nearly 28% YTDBusiness mix keeps improving, analyst saysJuly 31 (Reuters) - Shares of Coinbase Global (COIN.O), opens new tab slipped 5.6% in premarket trading on Friday after a third straight quarterly loss, though analysts expect strong fundamentals and business diversity to cushion it from a crypto cycle downturn.
The cryptocurrency market lost significant value in recent sessions, with bitcoin falling, as expectations that the U.S. Federal Reserve will cut interest rates faded and investors pulled money from spot exchange-traded funds.
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Bitcoin, the world's largest cryptocurrency, has lost a little over 27% value so far in 2026. Shares of Coinbase, often tied to the crypto cycle, have matched that with a nearly 28% decline.
The fall came after higher-than-expected inflation data reinforced expectations that the central bank would keep rates elevated for longer, weighing on risk-sensitive assets such as cryptocurrencies.
"Overall, crypto trading conditions remain challenging, and with limited visibility into when/if trading volumes will recover," analysts at Raymond James said.
GAINING GROUND ON SHAKY SOILAnalysts pegged the quarterly loss to the crypto cycle, believing that its business fundamentals remain good and Coinbase would be at the center of any possible crypto market recovery.
"The company posted its third consecutive quarter of record crypto trading market share at 10.3%, proving it continues to take share even in a softer crypto environment," said David Bartosiak, Stock Strategist at Zacks Investment Research.
"More importantly, the business mix keeps improving."
The company has diversified its revenue stream and moved away from spot Bitcoin trading to guard against such downturns. It is actively rowing the shores of stablecoins and retail derivatives, which could support its business long-term.
Coinbase and prediction markets platform Kalshi said in May that they were introducing perpetual crypto futures, marking the debut of such instruments to U.S. investors through domestic, regulated exchanges.
"We are encouraged that Coinbase is diversifying its business and think investors will applaud derivatives-driven share gains," William Blair said in a note. Its analysts believe that now is the time to buy Coinbase shares.
Reporting by Pritam Biswas in Bengaluru; Editing by Joyjeet Das
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Coinbase uvedla, že rozšiřuje nabídku o stablecoiny, předplatné a infrastrukturu, zatímco posiluje ekosystém Base. Firma zároveň hlásí rekordní počet platících předplatitelů Coinbase One.
Japan’s Crypto Overhaul Could Open the Door to a Wave of Institutional MoneyCoinbase Global NASDAQ: COIN executives said the company is pursuing growth through a broader product lineup, stablecoin partnerships, subscriptions and infrastructure initiatives, while maintaining its focus on trusted custody and expanding its Base blockchain ecosystem.
During the company’s second-quarter 2026 earnings call on X, Co-Founder and CEO Brian Armstrong and Chief Financial Officer Alesia Haas discussed U.S. crypto legislation, the renewal of Coinbase’s agreement with Circle, product cross-selling and the competitive landscape for blockchain networks.
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CLARITY Act Outlook Visa’s Open USD Push Puts Circle’s Stablecoin Moat Under PressureArmstrong said he remains optimistic that the CLARITY Act will receive a full vote in the U.S. Senate, citing ongoing negotiations and the approaching August recess as a potential catalyst for lawmakers to reach an agreement.
“There’s a lot of last-minute negotiations happening, which to me is a sign that everyone is invested in getting something over the line,” Armstrong said. He also credited Stand With Crypto advocates for sending more than 1 million emails and making phone calls to representatives.
As Stablecoins Keep Growing, These 2 Stocks BenefitStill, Armstrong said Coinbase would likely continue operating normally even if the legislation does not pass. He said the company already follows many practices that could be required under the proposed legislation. He also pointed to public statements from SEC Chair Paul Atkins and CFTC Chairman Michael Selig indicating that the agencies are prepared to develop clearer rules regardless of the bill’s outcome.
Armstrong said legislation would nevertheless provide greater durability across future administrations and support longer-term investment decisions. In his view, consumers would be more negatively affected than Coinbase if the act fails to become law.
Circle Agreement and Multi-Stablecoin Strategy Haas said Coinbase has met the conditions for its Circle contract to renew on the same terms. She said the company will continue working with Circle to expand the USDC ecosystem.
Coinbase’s participation in Open USD does not alter its support for USDC, Armstrong said. Instead, he described Coinbase as a “multi-stablecoin platform” that aims to offer the stablecoins customers want to use while pursuing economic arrangements with major issuers and networks.
The company already supports stablecoins including PayPal USD and Tether’s USDT, according to Armstrong. He said supporting additional stablecoins can create business and revenue opportunities, including in foreign-exchange trading.
Haas also addressed the company’s relationship with Hyperliquid, saying Coinbase wants institutional and retail customers to hold USDC on its platform and participate in available rewards programs. She said sharing economics with ecosystem participants can promote network effects and broader USDC adoption.
Armstrong said USDC is already the leading stablecoin by transaction volume and the largest regulated stablecoin globally. He said Coinbase intends to continue investing in USDC and sharing economics where appropriate in an effort to expand its position relative to other stablecoins.
Product Adoption, Marketing and Coinbase One Haas said Coinbase’s strategy begins with secure storage of customer assets, arguing that customers who store assets on the platform are more likely to transact and adopt additional services. The company’s growth marketing efforts are currently focused on products showing market demand, including prediction markets, crypto trading and newer derivatives offerings.
According to Haas, Coinbase generally targets a one-year payback period on growth marketing spending and has recently outperformed that benchmark. She said early data indicate that users engaging with prediction markets are also increasing spot trading activity, rather than shifting activity away from spot markets.
Armstrong said the company seeks to keep “all the shelves stocked” as it builds what he called an “everything exchange.” He cited prediction markets, perpetual futures, stock trading and potential future stock-options offerings as areas contributing to a more diverse trading-fee business.
On the subscription side, Haas said Coinbase recorded an all-time high in paid Coinbase One subscribers during the quarter, despite weaker crypto trading volumes. She said Coinbase One users tend to be highly engaged and use a wider range of company products and services.
Haas said Coinbase One subscribers, on average, trade more and generate higher unit economics than non-members. While zero-fee trading may shift revenue away from traditional trading-fee categories, she said subscribers also contribute through staking, card usage and other services. She characterized the overall customer relationship as accretive, supported by stronger retention and engagement.
Base, AI Agents and Competition Armstrong said Coinbase is preparing for a future in which artificial-intelligence agents increasingly function as customers and participants in financial markets. He said such agents will consider price and transaction speed but will also value reliable, secure, liquid and compliant infrastructure.
He said Base provides settlement for less than one cent and in under one second, while adding that Coinbase intends to “roll out the red carpet” for AI agents. Armstrong said the majority of agentic-finance transactions using USDC, Base and the x402 protocol are occurring through Coinbase’s ecosystem, although he said the company has no specific forecasts to share.
Addressing competition from companies developing their own blockchain networks, including Robinhood and Stripe, Armstrong said emerging markets often experience fragmentation before eventual consolidation. He compared the current blockchain landscape with stablecoins, where numerous new offerings have been introduced but USDC and Tether have retained the overwhelming share of the market.
Armstrong said Base remains the largest Ethereum layer-2 network and described it as a leader in spot-market liquidity, stablecoin transfer activity and agentic finance. He said Base processed roughly $32 trillion in stablecoin transfer volume over the prior 12 months. Coinbase will continue investing in Base and pursuing a path toward greater decentralization, he said.
Coinbase also sees demand for pre-initial-public-offering perpetual futures, Armstrong said. The company has begun offering the products to non-U.S. traders, with SpaceX as the first underlying private company. U.S. access is on the roadmap, though Armstrong did not provide a timetable.
About Coinbase Global (NASDAQ:COIN)Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.
Coinbase's product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.
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Coinbase Global, Inc. (COIN) Q2 2026 Earnings Call July 30, 2026 5:00 PM EDT
Company Participants
Brian Armstrong - Co-Founder, Chairman & CEO
Alesia Haas - Chief Financial Officer
Conference Call Participants
Eric Pan
Owen Lau - Clear Street LLC
Brian Jung
Kenneth Worthington - JPMorgan Chase & Co, Research Division
Austin Hankwitz
Alexander Markgraff - KeyBanc Capital Markets Inc., Research Division
Presentation
Brian Armstrong
Co-Founder, Chairman & CEO
During today's discussion, we may make forward-looking statements that may vary materially from our actual results. Please refer to our SEC filings and earnings presentation for information concerning risks, uncertainties and other factors that could cause these results to differ.
In addition, our discussion today may include certain non-GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures are provided in the earnings presentation on our Investor Relations website.
Alesia Haas
Chief Financial Officer
Hey, everyone. Thanks for joining us live on X today. I'm Alesia Haas, CFO of Coinbase, and I'm here with our Co-Founder and CEO, Brian Armstrong. We are also joined today by a group of independent and institutional research analysts. We're excited to connect directly with you, our customers, our community, our shareholders to talk about our quarter and answer your questions.
Question-and-Answer Session
Alesia Haas
Chief Financial Officer
So we're going to take our first question from an independent analyst named Eric Pan. Eric, over to you.
Eric Pan
Eric Pan, ericnomics, here. Great to see you guys again since the systems update in EURC. My question is around CLARITY. As CLARITY is at the 1-yard line and now out for the Senate floor vote, prediction markets and Galaxy Research have odds of it passing around roughly 30%. And August recess is right around the corner. Now I really want to be optimistic about this, but also imagining a scenario of a world where it doesn't really get
Coinbase vykázala třetí čtvrtletní ztrátu v řadě, protože slabší obchodování srazilo tržby z transakcí o 21 % na 599 milionů USD. Za čtvrtletí do 30. června vykázala ztrátu 359,5 milionu USD, tedy 1,36 USD na akcii.
The Coinbase logo is seen in this illustration created on November 3, 2025. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab
July 30 (Reuters) - Cryptocurrency exchange Coinbase Global (COIN.O), opens new tab on Thursday recorded a third consecutive quarter of losses, hurt by lower transaction revenue as a prolonged downturn in crypto markets curbed trading activity.
Shares of the crypto exchange were down 4.9% in trading after the bell.
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Cryptocurrency markets came under pressure during the April-to-June quarter as investors shunned riskier assets amid uncertainty over U.S. interest rates, geopolitical tensions and persistent outflows from crypto investment products.
The weakness extended a retreat from record highs reached in October.
Coinbase's transaction revenue dropped 21% to $599 million during the quarter, from $764 million a year earlier.
The company reported a loss of $359.5 million, or $1.36 per share, for the quarter ended June 30, compared with a profit of $1.43 billion, or $5.14 per share, a year earlier.
(This story has been corrected to say million, not billion, in paragraph 5)
Reporting by Rishab Shaju and Prakhar Srivastava in Bengaluru; Editing by Sahal Muhammed
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Coinbase ve 2. čtvrtletí oznámila tržby 1,22 miliardy USD a ztrátu 40 centů na akcii, obojí pod odhady. Zároveň dosáhla rekordního podílu 10,3 % na objemu obchodování s kryptoměnami.
Cryptocurrency platform company Coinbase Global (NASDAQ:COIN) reported second-quarter financial results Thursday after market close.
Here are the key highlights.
Coinbase Q2 EarningsCoinbase reported total revenue of $1.22 billion in the second quarter, down roughly 19% year-over-year. The total missed a Street consensus estimate of $1.32 billion, according to data from Benzinga Pro.
The company reported a loss of 40 cents per share, missing a Street estimate of a loss of 11 cents per share.
Transaction revenue was $599 million in the quarter, down 21% year-over-year. The company’s subscription and services revenue was $555 million, down 12% year-over-year.
Coinbase gained market share in the quarter, hitting an all-time high of 10.3% crypto trading volume share, up from 9.1% in the first quarter.
Prediction markets revenue was up 106% quarter-over-quarter in the second quarter. The company highlighted strong demand for NBA and World Cup markets. Coming soon from the company are combos for prediction markets.
Crypto derivative trading volume in the quarter was $4.22 trillion for the company, nearly flat while the market was down 12%.
What’s Next for CoinbaseCoinbase’s transaction revenue through July 26 for the third quarter is $130 million.
The company is guiding for subscription and services revenue to be in a range of $500 million to $580 million for the third quarter.
For the full fiscal year, Coinbase is lowering its cost expectations.
Coinbase Stock Price ActionCoinbase stock is down 5% to $155.08 in after-hours trading Thursday versus a 52-week trading range of $139.18 to $402.16.
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Coinbase dosáhla zamítnutí většiny žaloby, která ji vinila z nelegálního prodeje neregistrovaných cenných papírů. Soud ale ponechal část týkající se transakcí „inventory“.
The Coinbase logo is seen in this illustration created on November 3, 2025. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab
CompaniesNEW YORK, July 30 (Reuters) - Coinbase (COIN.O), opens new tab won the dismissal on Thursday of much of a lawsuit in which customers accused the largest U.S. cryptocurrency exchange of illegally selling securities without registering as an exchange or broker-dealer.
Customers sued over 60 tokens, including XRP and dogecoin, that they claimed were unregistered securities, seeking unspecified damages in the proposed class action.
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U.S. District Judge Paul Engelmayer in Manhattan dismissed all claims based on "matched" transactions where Coinbase paired customers' buy and sell orders. These accounted for an estimated 99.97% of trading volume, equal to hundreds of billions of dollars.
The judge also said customers may pursue claims over "inventory" transactions, where Coinbase fills orders from tokens it owns. These accounted for the remaining trading volume, comprising at least $178 million in sales.
Lawyers for the customers did not immediately respond to requests for comment. Coinbase and its lawyers did not immediately respond to similar requests.
Like other cryptocurrency industry participants, Coinbase has seen a rollback of regulatory oversight under the second Trump administration.
The lawsuit's outcome turned on whether Coinbase qualified as a statutory seller under the federal Securities Act of 1933 and state "blue sky" laws designed to prevent fraudulent securities sales.
Engelmayer said Coinbase was not a statutory seller for matched transactions because it did not pass ownership of tokens to buyers, and did not induce, or "solicit," the transactions merely by providing basic overviews of tokens and their price histories.
Coinbase was a statutory seller for inventory transactions, however, because it passed title of tokens to buyers, and acted as a dealer and underwriter, Engelmayer said.
The lawsuit began in 2021. Engelmayer dismissed other federal securities law claims in 2023.
Digital Chamber, a cryptocurrency trade group, supported Coinbase, saying an expansive definition of statutory seller could stifle innovation and drive trading volume to non-U.S. exchanges.
Last year, the U.S. Securities and Exchange Commission ended a lawsuit it brought in 2023 that accused Coinbase of allowing trading in tokens that should have been registered as securities.
Reporting by Jonathan Stempel in New York; Editing by Joe Bavier
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