Track market-moving stories before they get noisy

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.

Image Source: Zacks Investment Research

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.

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.
 

Image Source: Zacks Investment Research

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.

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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.

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.

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.

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.

By PYMNTS  |  August 11, 2026

 | 

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.

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.

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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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

Our Standards: The Thomson Reuters Trust Principles., opens new tab

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

Our Standards: The Thomson Reuters Trust Principles., opens new tab

By PYMNTS  |  July 27, 2026

 | 

Coinbase’s CEO has criticized cryptocurrency companies who switch their focus from blockchain tech to artificial intelligence (AI).

“‘If you’re in crypto, pivot to AI.’ I used to hear versions of this, and it’s the wrong way to think about the world. It’s zero sum, scarcity thinking,” Brian Armstrong wrote in a post on the social media platform X Sunday (July 27). “Crypto is a general purpose technology. It’s infrastructure, the same way electricity or the internet is infrastructure. It doesn’t compete with the next big thing, because it underpins it. It’s an *and*, not an *or*.”

AI being a “megatrend” does not detract from crypto but in act adds to its importance, Armstrong added.

“AI agents will need their own financial infrastructure and will eventually transact far more per day than all humans combined,” he wrote. “They can’t open a bank account, they can’t wait three days for a wire, they reside in one country. They need real time programmable money (and that’s crypto).”

These agents will need to “hold funds and pay for things on their own,” Armstrong continued, noting Coinbase’s involvement in x402, an agentic protocol that he said now powers most agentic payments.

“Agents will also engage in trading and act as a financial advisor,” he said. “They will raise or borrow money for new projects they are undertaking. They will eliminate tasks for us around tax planning, portfolio rebalancing, and bill pay.”

PYMNTS noted as much in a report on x402 earlier this month, saying the initiative gives CFOs and merchants a glimpse into a new reality for B2B.

“For CFOs, the more immediate question is not whether an AI agent can buy sneakers,” that report said. “It is whether software usage, data calls, model inference, content access and machine-to-machine work can become payable events inside normal business operations.”

If a compliance bot gets the attention of a sanction database or an internal AI agent calls a premium API to carry out a treasury task, “x402 suggests those moments could carry payment instructions by default,” PYMNTS added.

“The x402 protocol revives the long-unused HTTP 402 ‘Payment Required’ status code and turns it into a payment protocol for the internet,” the report continued. “That matters because the object being sold is not necessarily a product. It may be a request, an answer, a data pull, a support escalation, a chunk of compute, or a software action. The request becomes the transaction.”

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

CompaniesJuly 22 (Reuters) - Coinbase (COIN.O), opens new tab has settled a Freedom of Information Act lawsuit against the U.S. ​Securities and Exchange Commission over records it ‌sought from the agency, the cryptocurrency exchange's chief legal officer, Paul Grewal, said in a Wall Street Journal op-ed ​on Wednesday.

Grewal said the agency, which polices corporate ​record-keeping, had lost text messages between former Chair ⁠Gary Gensler and other officials after a process ​the SEC said "automatically wiped" certain data.

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As part of ​the settlement, the SEC will pay $150,000 and fix its record-retention policies, he wrote.

SEC did not immediately respond to a Reuters request ​for comment.

Coinbase sued the SEC and the Federal ​Deposit Insurance Corp. in 2024, seeking documents it said would ‌show ⁠a concerted effort by U.S. regulators to stamp out crypto companies.

The lawsuit sought additional communications from senior SEC officials, including Gensler.

Coinbase has scored major wins from ​the SEC under ​U.S. President ⁠Donald Trump, including the dismissal of a major lawsuit the regulator brought against ​the company under President Joe Biden.

It ​also championed ⁠a stablecoin bill passed by the U.S. Congress.

Reuters has reported that the SEC is preparing more industry-friendly ⁠policies, ​including one that would allow crypto ​companies to offer blockchain-based stocks.

Reporting by Hannah Lang in New York ​and Utkarsh Shetti in Bengaluru; Editing by Tasim Zahid

Our Standards: The Thomson Reuters Trust Principles., opens new tab

As bitcoin prices fell yet again in the second quarter, traders on prediction market platform Kalshi think Coinbase's trading volumes suffered once again. 

The cryptocurrency trading platform is expected to post a third consecutive quarterly decline of trading volumes, and speculators are also feeling confident that total trading volume will slip below $200 billion for the first time since third quarter 2024. 

Traders give a 41% chance that trading volume is above $160 billion, and just a 25% chance it's above $170 billion. That compares to analysts' consensus estimates for $168.5 billion, according to FactSet. 

Speculators are more certain volume will be above $150 billion, giving that a 99% chance of happening.

Coinbase is set to deliver its second-quarter earnings report on July 30. 

The contract on Kalshi asks traders if Coinbase trading volume will be above various levels, and the outcome is resolved using information from investment research platform Fiscal.ai. 

Shares of Coinbase are down more than 55% since bitcoin prices — which are off slightly less than 50% — peaked in October 2025. Coinbase trading volume's previous declines in the first quarter of 2026 and fourth quarter of 2025 came also as Bitcoin prices tumbled over that period. 

Coinbase since Oct. 7, 2025.

Bitcoin prices fell again in the second quarter, off about 12%.

Disclosure: CNBC and Kalshi have a commercial relationship that includes customer acquisition and a minority investment.

Shares of Circle Internet Group and Coinbase Global moved higher on Wednesday after William Blair said many of the key risks facing both companies are already reflected in investor expectations.

The firm also highlighted their potential to benefit from any recovery in Bitcoin prices.

Circle CRCL shares gained more than 3% in midday trading, while Coinbase stock rose nearly 2%.

Bitcoin was trading around $64,900, up about 0.5% over the previous 24 hours after reaching an intraday high of $65,500.

The cryptocurrency continued to struggle to hold above the $65,000 level.

William Blair cuts estimates but remains optimisticWilliam Blair said investors should continue to stay invested in Coinbase as spot trading volumes potentially bottom out, despite lowering its financial estimates for the crypto exchange.

The firm said both Coinbase and Circle offer "outsized leverage to a bitcoin recovery."

William Blair also warned that consensus estimates across the sector are likely to continue falling and revised its own forecasts lower.

The brokerage reduced its 2026 revenue estimate for Coinbase by 12% and its 2027 forecast by 13%. It also lowered EBITDA estimates by 34% for both years.

Despite those reductions, the firm expects profitability to recover after this year, stating that EBITDA "seems set to trough" in the second half of 2026 before rebounding in 2027.

Separately, Piper Sandler lowered its price target on Coinbase to $155 from $170 while maintaining a Neutral rating.

Analyst Patrick Moley said subdued cryptocurrency trading has contrasted with record options activity and the strongest quarter on record for US cash equities trading volumes.

He added that prediction markets and perpetual futures "were the story" of the second quarter, with the FIFA World Cup driving what he described as "massive" growth across the prediction markets industry.

Looking ahead, Moley said investors are paying close attention to "significant investor attention on the perpetual future threat," highlighting increasing competition as more trading activity shifts toward newer products such as perpetual futures.

While analysts updated their outlooks, Cathie Wood's ARK Invest continued to increase its exposure to Circle despite the stock's recent weakness.

ARK purchased another 220,000 Circle shares across three actively managed exchange-traded funds on Tuesday.

Based on Circle's Tuesday closing price of $63.22, the acquisition was valued at approximately $13.9 million.

The latest purchase brings ARK's disclosed Circle purchases during July to 725,517 shares.

The investment firm had previously acquired 287,609 shares on July 1 and 217,896 shares on July 9.

Circle has become a significant holding across ARK's innovation-focused portfolios.

As of Wednesday, the company represented 4.37% of the ARK Fintech Innovation ETF, making it the fund's seventh-largest position with a value of roughly $33 million.

Circle also accounted for 3.35% of the flagship ARK Innovation ETF, ranking as its ninth-largest holding and carrying a value of approximately $218 million.

Despite Wednesday's gains, both stocks remain under pressure this year. Coinbase shares have fallen nearly 30% in 2026, while Circle stock is down almost 20%.

Ark Invest CEO Cathie Wood has long been a crypto bull. In the company's 2025 Big Ideas report, Ark Invest said its 2030 base-case price target for Bitcoin (BTC +0.30%) is $700,000, with a bull case of $1.5 million.

Although Bitcoin and other cryptocurrencies have been crushed this year, Wood and Ark don't seem to be giving up yet, as they typically take a long view of what they believe are groundbreaking technologies.

Ahead of a big potential U.S. Senate vote on the Clarity Act, Ark has been buying cryptocurrency names such as Coinbase Global (COIN +0.40%) and Circle Internet Group. Here's the bet.

Image source: Getty Images.

How the Clarity Act would benefit crypto companies At the very end of June, disclosures from Ark Invest showed that its ARK Innovation ETF purchased 66,754 shares of Circle and 37,153 shares of Coinbase.

While we don't know the exact thinking of Wood and her team, there is a good chance they are buying Coinbase and Circle on the bet that the Senate will pass the Clarity Act, a broad regulation bill that crypto advocates see as a game changer. The bill seeks to create a framework for crypto regulation in the U.S. by doing three main things.

First, it provides a legal definition of a "mature blockchain" as "a blockchain system, together with its related digital commodity, that is not controlled by any person or group of persons under common control." The bill also provides a clear framework for dividing regulatory jurisdiction between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

The CFTC would have exclusive regulatory authority over spot markets and cryptocurrencies that are intrinsically connected to a blockchain. Cryptocurrencies classified as digital commodities trading on "mature blockchains" would not be securities and therefore would not need to be registered with the SEC. There are other provisions in the law that seek to protect investors and prevent pump-and-dump schemes.

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Finally, the Clarity Act contains provisions on stablecoins, digital assets pegged to a currency or commodity, that prevent idle stablecoins from earning yield, but do allow yield to be issued based on rewards for certain activities, such as transactions.

Passage of the Clarity Act would be good for Coinbase and Circle for a few reasons. For one, a clear regulatory framework would enable more of the traditional finance world to engage with crypto without fear of regulatory repercussions.

Clearer jurisdictional boundaries between the SEC and the CFTC would make it easier for exchanges to offer different cryptocurrencies on their platforms without worrying about whether they are skirting securities registration laws.

The stablecoin provision is also very important. It is not a complete win for Circle and Coinbase, which would have liked to offer yield on idle stablecoins. However, banks were concerned that doing this could have led to a run on traditional deposits.

Still, the language suggests that crypto platforms can incentivize people to use stablecoins for transactions, which could expand their ecosystems and usage.

Will the Clarity Act pass? The bill has been over a year in the making. The U.S. House of Representatives approved the legislation easily in mid-June last year, but it still hasn't cleared the Senate, which requires 60 votes to pass.

The Trump administration has been trying to get the law passed before the midterm elections. Congress is scheduled to be in recess from Aug. 10 to Sept. 11, adding more pressure to the timeline.

There are 53 Republicans in the Senate, so seven Democrats or independents are needed to make the law a reality. As of July 7, only two Democrats have publicly said they support the bill.

Furthermore, Sen. Mitch McConnell's (R-KY) status is currently unknown, as the longtime Republican senator has been hospitalized for the past several weeks with what is speculated to be a serious ailment.

As of this writing on July 9, Kalshi placed the odds of the Clarity Act receiving more than 60 votes from the Senate at just 25%, although these percentages change quickly.

Perhaps Wood and her team have studied the political landscape closely or simply believe that broad crypto legislation is only a matter of time.

The Coinbase logo on a smartphone screen in this illustration taken November 3, 2025. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab

CompaniesWASHINGTON, July 9 (Reuters) - Coinbase (COIN.O), opens new tab's Chief Legal Officer Paul Grewal is stepping down after six years at the U.S. crypto giant where he fought off a landmark suit ​brought by the U.S. securities regulator and played an instrumental role in the crypto industry's Washington ‌campaign to secure industry-friendly policies.

Grewal will step down effective immediately, with Molly Abraham, Coinbase's vice president of legal, moving into his role with the title of general counsel, the company told Reuters. Coinbase is also naming Ryan VanGrack, who is currently vice president ​of legal, as the company's first vice chair and head of corporate affairs, Coinbase said.

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Grewal first ​posted news of his departure on X.

Grewal's time at Coinbase was partly defined by a ⁠years-long legal battle with the Securities and Exchange Commission, which sued Coinbase in 2023 alleging the company had flouted ​its rules by facilitating trading in crypto tokens that it said should have registered as securities with the watchdog.

Legal ​experts saw the case as existential for Coinbase and the broader crypto industry, which had long sought to avoid costly SEC oversight. The agency under U.S. President Donald Trump, who courted crypto money on the campaign trail, dismissed the case last year, a massive ​win for Grewal, Coinbase and the industry.

Coinbase has been a top advocate for the crypto industry as it has ​sought policy changes in Washington to put it on a solid legal footing, with Grewal at the forefront of those efforts.

Most ‌recently, ⁠he had also been involved in deliberations on highly anticipated legislation -- dubbed the Clarity Act -- that would create federal rules for cryptocurrencies. The bill had been bogged down for months by a dispute between crypto companies and banks, but advanced out of a key Senate committee in May.

"After helping to take the company public, fighting the SEC and winning, ​moving us from Delaware to ​Texas, working to get ⁠GENIUS and soon CLARITY passed into law, and so much more – now is my time for new adventures," Grewal said in a post on X.

In his new role, ​VanGrack, who will be second-in-command to CEO Brian Armstrong, will step into a "broader corporate ​and public-facing role" ⁠representing Coinbase before "key stakeholders and policymakers around the world," he said in an interview.

The company needs to focus "on steps that unlock products, expand jurisdictions, and enhance our relationships with governments and partners around the world," VanGrack added.

The shift comes ⁠as Coinbase ​looks to become an "everything exchange" by expanding beyond crypto, including into ​stock trading, prediction markets and artificial intelligence-powered investment tools.

“What I'm so excited about in this next chapter is this is all about building our ​products... because of the path that [Grewal] cleared," said Abraham in an interview.

Reporting by Hannah Lang; editing by Michelle Price

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Hannah Lang covers financial technology and cryptocurrency, including the businesses that drive the industry and policy developments that govern the sector. Hannah previously worked at American Banker where she covered bank regulation and the Federal Reserve. She graduated from the University of Maryland, College Park and lives in Washington, DC.

Coinbase Global, Inc. (COIN - Free Report) closed the most recent trading day at $168.87, moving +2.05% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.72%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.12%.

The stock of company has risen by 8.58% in the past month, leading the Finance sector's gain of 5.36% and the S&P 500's loss of 0.9%.

Analysts and investors alike will be keeping a close eye on the performance of Coinbase Global, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of $0.31, up 158.33% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.36 billion, showing a 9.27% drop compared to the year-ago quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.74 per share and a revenue of $5.95 billion, indicating changes of -56.82% and -17.13%, respectively, from the former year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Coinbase Global, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 9.91% decrease. As of now, Coinbase Global, Inc. holds a Zacks Rank of #3 (Hold).

Investors should also note Coinbase Global, Inc.'s current valuation metrics, including its Forward P/E ratio of 95.18. For comparison, its industry has an average Forward P/E of 11.13, which means Coinbase Global, Inc. is trading at a premium to the group.

We can also see that COIN currently has a PEG ratio of 5.84. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Financial - Miscellaneous Services industry currently had an average PEG ratio of 1.02 as of yesterday's close.

The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 100, placing it within the top 41% of over 250 industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.