‍Coinbase Announces Q2 Earnings Amid Market Volatility
Coinbase reported $1.5 billion in revenue for Q2 2025, a 25% decrease from the previous quarter and 6% below analyst expectations. The exchange's stock (COIN) saw a post-announcement dip but remains up 45% year-to-date.
The revenue decline was influenced by a May data breach and strategic investments, though adjusted EBITDA was $512 million. Bitcoin's performance, surging 26% in the quarter to surpass $107,000, provides a contrasting market backdrop.
Despite revenue challenges, Coinbase acquired Deribit for nearly $3 billion, marking a significant move in its aggressive M&A strategy. This reflects a broader industry trend of consolidation and expansion, potentially driven by a favorable political climate for crypto.