Coinbase reported its Q4 and full-year 2025 results: revenue of $1.8 billion for the quarter and $7.2 billion for the year.

Key metrics (Q4 2025):

• Revenue: $1.8 billion (−21% y/y; Q4 2024 - $2.3 billion)
• Operating profit: $566 million
• Net loss: $667 million (due to unrealized losses of $718 million on crypto investments; compared to a profit of $1.3 billion YoY)

Full-year 2025 figures:

• Revenue: $7.2 billion (+9% YoY)
• Operating profit: $2.8 billion (−15% YoY)
• Net profit: $1.3 billion (−51% YoY)
• Trading volume: $5.2 trillion for the year (+156% YoY);
• Crypto trading market share - 6.4% (doubled from 3.2%)

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