In Q2 2025, Coinbase demonstrated excellent financial results, significantly surpassing analysts' expectations. The company achieved record figures in revenue and net income.
Coinbase Financial Results
According to the quarterly filing, Coinbase reported $1.5 billion in revenue and $1.4 billion in net income. These figures include a $1.5 billion unrealized gain from strategic investments and $362 million from its crypto holdings. Even without these figures, Adjusted Net Income was $33 million, and Adjusted EBITDA reached $512 million. Transaction revenue stood at $764 million, while subscriptions and services contributed $656 million.
Platform Development and New Financial Tools
During the second quarter, Coinbase continued to advance its on-chain strategy by expanding crypto trading capabilities and financial tools. The company introduced the widest set of CFTC-approved perpetual futures contracts in the country, driving record trading volume and open interest on its international derivatives exchange. Coinbase also increased USDC usage by integrating it into various payment systems. Average USDC balances rose by 13% from the last quarter, reaching $13.8 billion.
New Regulations and Future of Assets
As the quarter closed, Washington began easing crypto regulations. In July, Congress passed the CLARITY Act, and the President signed the GENIUS Act, providing regulatory clarity for stablecoins and crypto market structure. Coinbase also announced plans for an 'everything exchange' that will bring tokenized stocks, real-world assets, and derivatives on-chain. CEO Brian Armstrong stated that he wants Coinbase to be the top financial platform in the world over the next decade.
In Q2 2025, Coinbase significantly expanded its financial capabilities and strengthened its market position. The positive dynamics and new initiatives suggest that the company will continue to grow its metrics and influence the development of the crypto industry.
