Coinbase Global (COIN)
Market Price (6/25/2026): $153.15 | Market Cap: $40.6 BilInvestor Relations Sector: Financials | Industry: Financial Exchanges & Data
Coinbase Global (COIN)
Market Price (6/25/2026): $153.15Market Cap: $40.6 BilSector: FinancialsIndustry: Financial Exchanges & Data
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -28% Stock buyback supportStock Buyback 3Y Total is 1.1 Bil Megatrend and thematic driversMegatrends include Crypto & Blockchain, and Digital & Alternative Assets. Themes include Cryptocurrency Exchanges, and Digital Asset Custody. | Weak multi-year price returns2Y Excs Rtn is -70% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 37x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 23x, P/EPrice/Earnings or Price/(Net Income) is 50x Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.8%, Rev Chg QQuarterly Revenue Change % is -31% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 14% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2% Key risksCOIN key risks include [1] ongoing legal action from regulators like the SEC and [2] the potential for customer assets to be treated as company property in a bankruptcy proceeding. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -28% |
| Stock buyback supportStock Buyback 3Y Total is 1.1 Bil |
| Megatrend and thematic driversMegatrends include Crypto & Blockchain, and Digital & Alternative Assets. Themes include Cryptocurrency Exchanges, and Digital Asset Custody. |
| Weak multi-year price returns2Y Excs Rtn is -70% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 37x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 23x, P/EPrice/Earnings or Price/(Net Income) is 50x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.8%, Rev Chg QQuarterly Revenue Change % is -31% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 14% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2% |
| Key risksCOIN key risks include [1] ongoing legal action from regulators like the SEC and [2] the potential for customer assets to be treated as company property in a bankruptcy proceeding. |
Qualitative Assessment
AI Analysis | Feedback
Coinbase Global (COIN) stock has lost about 15% since 2/28/2026 because of the following key factors:
1. Weak Q1 2026 Financial Performance and Missed Expectations.
Coinbase reported a significant decline in its financial results for fiscal Q1 2026, which ended on March 31, 2026. The company posted a GAAP net loss of $394.1 million, or -$1.49 per diluted share, substantially missing analyst consensus estimates that ranged from $0.04 to $0.3241 per share. Total revenue for the quarter was $1.41 billion, a 21% decrease quarter-over-quarter and 31% year-over-year, falling short of anticipated figures between $1.49 billion and $1.56 billion. Additionally, operating margins shifted to a negative 7% in Q1 2026 from a positive 12% in fiscal Q4 2025, and adjusted EBITDA dropped 46% quarter-over-quarter to $303 million.
2. Broader Cryptocurrency Market Downturn and Reduced Trading Volumes.
The decline in Coinbase's stock was significantly influenced by a widespread downturn in the cryptocurrency market during fiscal Q1 2026, which saw the total crypto market capitalization fall 20.4% to $2.4 trillion, signaling a "crypto winter". Bitcoin's price decreased by 22%, and Ethereum's by 41% during the quarter. This market contraction led to a nearly 48% reduction in global cryptocurrency exchange volume from its peak in October 2025, reaching $4.3 trillion in March 2026, the lowest since October 2024. These macroeconomic conditions directly impacted Coinbase's transaction revenue, which declined 21% quarter-over-quarter, and analysts anticipate weak trading volumes will likely cause another revenue miss for fiscal Q2 2026, with volumes potentially down 15-20% sequentially.
Show more
Coinbase Global (COIN) stock has lost about 15% since 2/28/2026 because of the following key factors:
1. Weak Q1 2026 Financial Performance and Missed Expectations.
Coinbase reported a significant decline in its financial results for fiscal Q1 2026, which ended on March 31, 2026. The company posted a GAAP net loss of $394.1 million, or -$1.49 per diluted share, substantially missing analyst consensus estimates that ranged from $0.04 to $0.3241 per share. Total revenue for the quarter was $1.41 billion, a 21% decrease quarter-over-quarter and 31% year-over-year, falling short of anticipated figures between $1.49 billion and $1.56 billion. Additionally, operating margins shifted to a negative 7% in Q1 2026 from a positive 12% in fiscal Q4 2025, and adjusted EBITDA dropped 46% quarter-over-quarter to $303 million.
2. Broader Cryptocurrency Market Downturn and Reduced Trading Volumes.
The decline in Coinbase's stock was significantly influenced by a widespread downturn in the cryptocurrency market during fiscal Q1 2026, which saw the total crypto market capitalization fall 20.4% to $2.4 trillion, signaling a "crypto winter". Bitcoin's price decreased by 22%, and Ethereum's by 41% during the quarter. This market contraction led to a nearly 48% reduction in global cryptocurrency exchange volume from its peak in October 2025, reaching $4.3 trillion in March 2026, the lowest since October 2024. These macroeconomic conditions directly impacted Coinbase's transaction revenue, which declined 21% quarter-over-quarter, and analysts anticipate weak trading volumes will likely cause another revenue miss for fiscal Q2 2026, with volumes potentially down 15-20% sequentially.
3. Disappointing Revenue Guidance and Strategic Workforce Reduction.
Coinbase's guidance for fiscal Q1 2026 indicated challenges ahead, with subscription and services revenue projected between $550 million and $630 million, a 27% shortfall compared to the prior Wall Street consensus of $747.5 million. In response to the challenging operating environment and rapidly growing costs, CEO Brian Armstrong announced a 14% workforce reduction, impacting approximately 700 jobs, in early May 2026. This measure aimed to achieve roughly $500 million in annualized savings. While intended for future efficiency, this move underscored the company's struggle with its cost base amidst declining market activity.
4. Negative Analyst Sentiment and Valuation Concerns.
Analyst sentiment turned more bearish on Coinbase, contributing to the stock's decline. On June 5, 2026, Baird initiated coverage with a "Bearish Fresh Pick" designation, citing expectations for a fiscal Q2 2026 revenue miss due to weak trading volumes. Baird also highlighted concerns over Coinbase's elevated valuation, trading at approximately 35 times its 2027 estimated EPS, making it vulnerable to a significant derating, and consequently lowered its price target for COIN to $142 from $160. InvestingPro analysis also suggested that the stock was overvalued relative to its fair value following the fiscal Q1 results.
Show less
Stock Movement Drivers
Fundamental Drivers
The -14.6% change in COIN stock from 2/28/2026 to 6/24/2026 was primarily driven by a -30.5% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 6242026 | Change |
|---|---|---|---|
| Stock Price ($) | 175.85 | 150.11 | -14.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,181 | 6,560 | -8.7% |
| Net Income Margin (%) | 17.6% | 12.2% | -30.5% |
| P/E Multiple | 37.4 | 49.6 | 32.6% |
| Shares Outstanding (Mil) | 268 | 265 | 1.4% |
| Cumulative Contribution | -14.6% |
Market Drivers
2/28/2026 to 6/24/2026| Return | Correlation | |
|---|---|---|
| COIN | -14.6% | |
| Market (SPY) | 7.2% | 57.5% |
| Sector (XLF) | 5.0% | 30.6% |
Fundamental Drivers
The -45.0% change in COIN stock from 11/30/2025 to 6/24/2026 was primarily driven by a -70.9% change in the company's Net Income Margin (%).| (LTM values as of) | 11302025 | 6242026 | Change |
|---|---|---|---|
| Stock Price ($) | 272.82 | 150.11 | -45.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,672 | 6,560 | -14.5% |
| Net Income Margin (%) | 41.9% | 12.2% | -70.9% |
| P/E Multiple | 22.3 | 49.6 | 122.8% |
| Shares Outstanding (Mil) | 263 | 265 | -0.7% |
| Cumulative Contribution | -45.0% |
Market Drivers
11/30/2025 to 6/24/2026| Return | Correlation | |
|---|---|---|
| COIN | -45.0% | |
| Market (SPY) | 7.9% | 54.5% |
| Sector (XLF) | 1.6% | 36.7% |
Fundamental Drivers
The -39.1% change in COIN stock from 5/31/2025 to 6/24/2026 was primarily driven by a -42.1% change in the company's Net Income Margin (%).| (LTM values as of) | 5312025 | 6242026 | Change |
|---|---|---|---|
| Stock Price ($) | 246.62 | 150.11 | -39.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,961 | 6,560 | -5.8% |
| Net Income Margin (%) | 21.1% | 12.2% | -42.1% |
| P/E Multiple | 42.6 | 49.6 | 16.4% |
| Shares Outstanding (Mil) | 254 | 265 | -4.1% |
| Cumulative Contribution | -39.1% |
Market Drivers
5/31/2025 to 6/24/2026| Return | Correlation | |
|---|---|---|
| COIN | -39.1% | |
| Market (SPY) | 25.8% | 56.6% |
| Sector (XLF) | 7.0% | 39.7% |
Fundamental Drivers
The 141.3% change in COIN stock from 5/31/2023 to 6/24/2026 was primarily driven by a 134.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312023 | 6242026 | Change |
|---|---|---|---|
| Stock Price ($) | 62.20 | 150.11 | 141.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,800 | 6,560 | 134.3% |
| P/S Multiple | 5.1 | 6.1 | 17.8% |
| Shares Outstanding (Mil) | 231 | 265 | -12.6% |
| Cumulative Contribution | 141.3% |
Market Drivers
5/31/2023 to 6/24/2026| Return | Correlation | |
|---|---|---|
| COIN | 141.3% | |
| Market (SPY) | 82.4% | 49.6% |
| Sector (XLF) | 77.5% | 41.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| COIN Return | -23% | -86% | 391% | 43% | -9% | -30% | -52% |
| Peers Return | -14% | -56% | 40% | 48% | 33% | -14% | -11% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 96% |
Monthly Win Rates [3] | |||||||
| COIN Win Rate | 33% | 33% | 75% | 50% | 58% | 33% | |
| Peers Win Rate | 42% | 35% | 54% | 48% | 54% | 37% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| COIN Max Drawdown | - | -87% | -42% | -47% | -50% | -45% | |
| Peers Max Drawdown | -46% | -61% | -42% | -37% | -43% | -43% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HOOD, PYPL, BKKT, CME.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/24/2026 (YTD)
How Low Can It Go
| Event | COIN | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -41.4% | -18.8% |
| % Gain to Breakeven | 70.8% | 23.1% |
| Time to Breakeven | 36 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -18.5% | -7.8% |
| % Gain to Breakeven | 22.7% | 8.5% |
| Time to Breakeven | 72 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -27.8% | -9.5% |
| % Gain to Breakeven | 38.5% | 10.5% |
| Time to Breakeven | 50 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -14.0% | -6.7% |
| % Gain to Breakeven | 16.3% | 7.1% |
| Time to Breakeven | 2 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -81.3% | -24.5% |
| % Gain to Breakeven | 433.9% | 32.4% |
| Time to Breakeven | 617 days | 427 days |
In The Past
Coinbase Global's stock fell -41.4% during the 2025 US Tariff Shock. Such a loss loss requires a 70.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | COIN | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -41.4% | -18.8% |
| % Gain to Breakeven | 70.8% | 23.1% |
| Time to Breakeven | 36 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -27.8% | -9.5% |
| % Gain to Breakeven | 38.5% | 10.5% |
| Time to Breakeven | 50 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -81.3% | -24.5% |
| % Gain to Breakeven | 433.9% | 32.4% |
| Time to Breakeven | 617 days | 427 days |
In The Past
Coinbase Global's stock fell -41.4% during the 2025 US Tariff Shock. Such a loss loss requires a 70.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Coinbase Global (COIN)
Coinbase Global (COIN) operates as a foundational financial infrastructure and technology provider for the global cryptoeconomy. The company's core mission is to enable individuals and institutions to easily engage with crypto assets, serving as a critical gateway to the world of digital currencies both in the United States and internationally.
For individual investors, often referred to as retailers, Coinbase offers a primary financial account designed for managing crypto assets. This platform allows users to securely buy, sell, store, and transact in various cryptocurrencies, positioning itself as their main interface for participating in the digital asset market.
Beyond retail services, Coinbase also serves institutional investors with a dedicated marketplace featuring deep liquidity for large-scale crypto asset transactions. Additionally, the company provides essential technology and services to ecosystem partners, empowering them to build new crypto-based applications and securely integrate crypto assets as a form of payment.
AI Analysis | Feedback
Here are 1-3 brief analogies for Coinbase Global (COIN):
- Like a PayPal or Venmo, but specifically for buying, selling, and holding cryptocurrencies.
- The NASDAQ or New York Stock Exchange for cryptocurrencies.
- The Fidelity or Schwab for the crypto economy.
AI Analysis | Feedback
- Retail Trading Platform: Provides individual users with a platform to buy, sell, and store various cryptocurrencies.
- Institutional Trading Services: Offers a deep liquidity pool and advanced tools for institutional clients to transact in crypto assets.
- Developer & Business Services: Provides technology and APIs for businesses and developers to build crypto applications and securely accept crypto assets as payment.
AI Analysis | Feedback
Major Customers of Coinbase Global (COIN)
Coinbase Global serves a diverse customer base, including both individuals and businesses. Historically, individual users have formed a significant portion of its revenue. Therefore, the company primarily serves the following categories of customers:
- Individual/Retail Users: These are everyday people who use Coinbase's platform to buy, sell, store, send, and receive various cryptocurrencies. Coinbase offers them "the primary financial account in the cryptoeconomy." This segment includes both casual investors and more active retail traders.
- Institutional Investors and Businesses: This category encompasses hedge funds, asset managers, corporations, family offices, and other financial entities that require a secure, regulated, and liquid platform for large-volume cryptocurrency trading, prime brokerage services, and secure custody of digital assets. Coinbase provides "a marketplace with a pool of liquidity for transacting in crypto assets for institutions."
- Ecosystem Partners, Developers, and Merchants: This segment includes businesses and developers who leverage Coinbase's technology and services (such as APIs) to build crypto-based applications, integrate cryptocurrency payments into their services, or securely accept crypto assets as payment from their own customers. Coinbase offers "technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment."
AI Analysis | Feedback
- Amazon (AMZN)
- Alphabet (GOOGL)
- Metropolitan Commercial Bank (MCB)
- Cross River Bank
AI Analysis | Feedback
Brian Armstrong
Chief Executive Officer
Brian Armstrong co-founded Coinbase Global, Inc. in 2012 and has served as CEO since its inception. Prior to founding Coinbase, he worked as a software engineer at Airbnb and was the founder and CEO of Universitytutor.com. He also served as a consultant at Deloitte & Touche LLP.
Alesia Haas
Chief Financial Officer
Alesia Haas joined Coinbase Global, Inc. as Chief Financial Officer in 2018. She previously served as CFO at Sculptor Capital Management (formerly Oz Management) and as CFO and Head of Strategy at OneWest Bank. OneWest Bank was acquired by CIT Group. Her prior experience also includes senior finance, investment, and strategy roles with Merrill Lynch and General Electric.
Emilie Choi
President & Chief Operating Officer
Emilie Choi has served as Chief Operating Officer since 2019 and President since 2020. Before joining Coinbase in 2018, she spent nearly a decade at LinkedIn as Vice President and Head of Corporate Development, overseeing more than 40 acquisitions, including the purchase of Lynda.com. Her career also includes strategic roles at Warner Bros. and Yahoo!.
Paul Grewal
Chief Legal Officer & Secretary
Paul Grewal joined Coinbase as Chief Legal Officer & Secretary in August 2020. He previously served as Vice President and Deputy General Counsel at Facebook (now Meta) from 2016 to 2020. Grewal also served as a U.S. Magistrate Judge for the Northern District of California from 2010 to 2016.
Surojit Chatterjee
Chief Product Officer
Surojit Chatterjee joined Coinbase as Chief Product Officer in early 2020 after spending 11 years at Google. At Google, he was most recently Vice President of Product, leading Google Shopping. Prior to that, he was Head of Product at Flipkart, a popular Indian e-commerce site, and a founding member of Google's mobile search ads product.
AI Analysis | Feedback
The key risks to Coinbase Global (COIN) include regulatory uncertainty and scrutiny, cryptocurrency market volatility, and intense competition.
-
Regulatory Uncertainty and Scrutiny: Coinbase faces significant risks due to the evolving and often unclear regulatory landscape for cryptocurrencies across various jurisdictions. The company has been subject to enforcement actions and lawsuits from regulatory bodies like the SEC, which alleges that certain tokens traded on its platform are unregistered securities and that Coinbase operates as an unregistered exchange, broker, and clearing agency. This regulatory uncertainty creates operational challenges, increased compliance costs, and potential fines or penalties. The lack of a clear federal framework for digital assets, particularly in the U.S., means that Coinbase must navigate a complex and fragmented set of rules, which can limit its product offerings and expansion capabilities.
-
Cryptocurrency Market Volatility: Coinbase's revenue, particularly its transaction revenue, is highly dependent on the trading volumes and prices of crypto assets, which are inherently volatile. Significant price swings and market downturns, often referred to as "crypto winters," can lead to substantially reduced trading activity and, consequently, lower revenue for Coinbase. While Coinbase is working to diversify its revenue streams through subscription and services, its core business remains tightly coupled with the boom-and-bust cycles of the crypto market, making it susceptible to broad market movements.
-
Competition: Coinbase operates in a fiercely competitive environment, facing challenges from numerous other centralized and decentralized crypto exchanges, as well as increasing participation from traditional financial institutions and brokerages. This intense competition can lead to pressure on trading fees and the need for Coinbase to continuously innovate and differentiate its services to retain and attract users. Competitors may offer a wider selection of altcoins or more advanced trading features, potentially at lower costs, thereby challenging Coinbase's market share.
AI Analysis | Feedback
The clear emerging threat to Coinbase Global is the increasing adoption and technological advancement of decentralized exchanges (DEXs) and the broader movement towards decentralized finance (DeFi) and self-custody. DEXs allow users to trade cryptocurrencies directly from their digital wallets without the need for a centralized intermediary like Coinbase, reducing counterparty risk and often offering greater privacy and control over assets. As DEXs become more user-friendly, liquid, and integrated into Web3 ecosystems, they pose a fundamental challenge to Coinbase's core business model as a centralized crypto exchange and financial services provider, potentially leading to a shift in user preference away from centralized platforms.
AI Analysis | Feedback
Coinbase Global (COIN) operates within several significant addressable markets related to the cryptoeconomy, encompassing retail and institutional cryptocurrency services, crypto payment processing, and blockchain technology solutions.
Cryptocurrency Market (Retail and Institutional)
- The global cryptocurrency market size was valued at approximately USD 2.49 trillion in 2024. This market is projected to reach between USD 5.73 trillion by 2033 and USD 6.29 trillion by 2033. Another estimate places the global cryptocurrency market at USD 2.73 trillion in 2025, with a projection to reach USD 6.39 trillion by 2034.
- For the retail segment, the global retail & e-commerce cryptocurrency market was valued at US$ 539.9 million in 2025 and is estimated to grow to US$ 1,074.7 million by 2030. Retail users are also projected to see the fastest growth at a 28.33% Compound Annual Growth Rate (CAGR) through 2031.
- Institutional users constituted a significant portion of the cryptocurrency market, holding 63.24% of the global market in 2025.
- Regionally, North America generated the highest revenue in the cryptocurrency market in 2023. Europe held a significant share of over 39.5% in 2025. Asia Pacific also represented a major segment, dominating the global cryptocurrency market with a 31.0% revenue share in 2025.
Crypto Payment Gateway Market
- The global crypto payment gateway market was valued at USD 1.2 billion in 2023. It is projected to grow to approximately USD 4.74 billion by 2030 or USD 5.4 billion by 2031.
- North America was identified as the largest region in the crypto payment gateway market in 2025.
Blockchain as a Service (BaaS) Market
- The global Blockchain as a Service (BaaS) market size was USD 3.25 billion in 2024. This market is projected to reach between USD 35.67 billion by 2033 and USD 84.6 billion by 2031.
- North America dominated the blockchain as a service market in 2025.
AI Analysis | Feedback
Here are 3-5 expected drivers of future revenue growth for Coinbase Global (COIN) over the next 2-3 years:
- Growth in Subscription and Services Revenue: Coinbase anticipates continued revenue growth from its subscription and services segment, which includes blockchain rewards (such as staking), the expansion of its stablecoin offerings (like USDC), and increasing subscriber numbers for its Coinbase One membership program. This diversification aims to reduce reliance on volatile transaction fees.
- Expansion of Institutional Offerings and Adoption: Increased engagement from institutional investors is expected to drive future revenue. This includes a surge in institutional trading volume, broader adoption of Coinbase Prime's suite of products (including custody, trading, financing, and staking), and the scaling of derivative offerings.
- New Product Development and Ecosystem Growth: Coinbase is focused on launching and expanding new products and services that foster utility in the crypto economy. Key initiatives include the growth of its Layer-2 network, Base, which has shown potential for significant annual revenue, and the development of the "Everything Exchange" to offer a wider range of trading opportunities.
- International Market Expansion: The company is actively pursuing growth in international markets by improving payment rails and localization efforts, aiming to increase its global revenue share.
AI Analysis | Feedback
Share Repurchases
- In January 2026, Coinbase's board approved an additional $2 billion share repurchase authorization, which also covers long-term debt retirement.
- Coinbase completed a $1.7 billion share buyback program through February 10, 2026, which fully offset shareholder dilution from stock-based compensation for the fiscal year 2025.
- In October 2024, the board of directors authorized a $1 billion share repurchase program without an expiration date.
Share Issuance
- In Q1 2024, Coinbase raised $1.1 billion through a convertible note offering.
Inbound Investments
- No significant inbound investments by third-parties have been explicitly reported in the last 3-5 years for Coinbase Global Inc. in the provided search results, beyond its initial public offering in April 2021.
Outbound Investments
- Coinbase acquired LMX Labs, LLC in February 2022, which now operates as the Coinbase Derivatives Exchange, expanding its derivatives offerings.
- The company launched Coinbase International Exchange for non-U.S. customers and Coinbase Financial Markets for regulated futures trading in the U.S. in 2023, signaling strategic investments in global derivatives markets.
- Coinbase has made internal investments and acquisitions to expand into adjacent businesses such as prime brokerage and data analytics.
Capital Expenditures
- Coinbase reported capital expenditures of $83 million in 2021.
- Reported capital expenditures for 2022, 2023, 2024, and 2025 are listed as $0.00.
- The company anticipates increases in technology, development, general, and administrative expenses in 2024, indicating ongoing investment in its operational infrastructure and product expansion.
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 97.19 |
| Mkt Cap | 39.7 |
| Rev LTM | 6,560 |
| Op Inc LTM | 2,135 |
| FCF LTM | 2,973 |
| FCF 3Y Avg | 1,958 |
| CFO LTM | 3,034 |
| CFO 3Y Avg | 1,974 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.8% |
| Rev Chg 3Y Avg | 37.1% |
| Rev Chg Q | 7.2% |
| QoQ Delta Rev Chg LTM | 1.7% |
| Op Inc Chg LTM | 6.4% |
| Op Inc Chg 3Y Avg | 13.1% |
| Op Mgn LTM | 18.9% |
| Op Mgn 3Y Avg | 19.9% |
| QoQ Delta Op Mgn LTM | -0.5% |
| CFO/Rev LTM | 26.8% |
| CFO/Rev 3Y Avg | 28.8% |
| FCF/Rev LTM | 26.8% |
| FCF/Rev 3Y Avg | 27.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 39.7 |
| P/S | 6.1 |
| P/Op Inc | 18.8 |
| P/EBIT | 14.4 |
| P/E | 19.5 |
| P/CFO | 18.8 |
| Total Yield | 2.2% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 4.1% |
| D/E | 0.2 |
| Net D/E | 0.0 |
Price Behavior
| Market Price | $150.11 | |
| Market Cap ($ Bil) | 39.7 | |
| First Trading Date | 04/14/2021 | |
| Distance from 52W High | -64.2% | |
| 50 Days | 200 Days | |
| DMA Price | $184.44 | $235.95 |
| DMA Trend | down | down |
| Distance from DMA | -18.6% | -36.4% |
| 3M | 1YR | |
| Volatility | 65.7% | 67.7% |
| Downside Capture | 418.73 | 466.54 |
| Upside Capture | 193.55 | 260.96 |
| Correlation (SPY) | 58.9% | 58.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.71 | 2.30 | 2.59 | 3.07 | 3.31 | 2.55 |
| Up Beta | -2.51 | 0.50 | 1.21 | 2.12 | 2.16 | 2.11 |
| Down Beta | 2.26 | 2.53 | 1.88 | 2.74 | 3.85 | 2.12 |
| Up Capture | 185% | 221% | 369% | 386% | 694% | 19152% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 10 | 21 | 32 | 53 | 115 | 360 |
| Down Capture | 459% | 598% | 319% | 281% | 209% | 114% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 10 | 20 | 31 | 71 | 134 | 390 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with COIN | |
|---|---|---|---|---|
| COIN | -51.7% | 68.8% | -0.78 | - |
| Sector ETF (XLF) | 7.0% | 14.6% | 0.25 | 41.2% |
| Equity (SPY) | 23.3% | 12.5% | 1.40 | 59.1% |
| Gold (GLD) | 17.7% | 27.7% | 0.57 | 18.8% |
| Commodities (DBC) | 18.2% | 18.6% | 0.76 | 5.4% |
| Real Estate (VNQ) | 11.6% | 13.8% | 0.56 | 17.1% |
| Bitcoin (BTCUSD) | -40.6% | 42.4% | -1.11 | 71.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with COIN | |
|---|---|---|---|---|
| COIN | -8.2% | 85.9% | 0.28 | - |
| Sector ETF (XLF) | 9.5% | 18.6% | 0.39 | 42.0% |
| Equity (SPY) | 13.2% | 17.1% | 0.60 | 53.6% |
| Gold (GLD) | 16.4% | 18.3% | 0.73 | 7.6% |
| Commodities (DBC) | 6.9% | 19.5% | 0.26 | 8.1% |
| Real Estate (VNQ) | 2.7% | 18.9% | 0.04 | 35.3% |
| Bitcoin (BTCUSD) | 10.4% | 54.1% | 0.39 | 59.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with COIN | |
|---|---|---|---|---|
| COIN | -7.6% | 85.2% | 0.20 | - |
| Sector ETF (XLF) | 13.4% | 22.1% | 0.55 | 40.8% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 52.8% |
| Gold (GLD) | 11.5% | 16.1% | 0.59 | 7.6% |
| Commodities (DBC) | 5.7% | 18.0% | 0.24 | 7.9% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.23 | 34.8% |
| Bitcoin (BTCUSD) | 57.2% | 66.5% | 0.97 | 57.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/10/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/7/2026 | 4.2% | 9.9% | -16.0% |
| 2/12/2026 | 16.5% | 21.4% | 44.1% |
| 10/30/2025 | 4.6% | -10.1% | -19.9% |
| 7/31/2025 | -16.7% | -17.7% | -19.4% |
| 5/8/2025 | -3.5% | 18.4% | 24.3% |
| 2/13/2025 | -8.0% | -21.0% | -36.6% |
| 10/30/2024 | -15.3% | 20.1% | 39.9% |
| 8/1/2024 | -3.9% | -9.6% | -13.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 9 | 9 |
| # Negative | 12 | 12 | 12 |
| Median Positive | 5.4% | 9.9% | 24.3% |
| Median Negative | -3.8% | -8.4% | -16.3% |
| Max Positive | 18.3% | 22.6% | 66.8% |
| Max Negative | -26.4% | -21.0% | -36.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/7/2026 | 4.2% | 9.9% | -16.0% |
| 2/12/2026 | 16.5% | 21.4% | 44.1% |
| 10/30/2025 | 4.6% | -10.1% | -19.9% |
| 7/31/2025 | -16.7% | -17.7% | -19.4% |
| 5/8/2025 | -3.5% | 18.4% | 24.3% |
| 2/13/2025 | -8.0% | -21.0% | -36.6% |
| 10/30/2024 | -15.3% | 20.1% | 39.9% |
| 8/1/2024 | -3.9% | -9.6% | -13.8% |
| 5/2/2024 | -2.4% | -8.0% | 1.1% |
| 2/15/2024 | 8.8% | 0.2% | 44.6% |
| 11/2/2023 | 1.4% | 9.8% | 66.8% |
| 8/3/2023 | -3.8% | -8.1% | -14.1% |
| 5/4/2023 | 18.3% | 22.6% | 19.3% |
| 2/21/2023 | -1.4% | 4.4% | 24.3% |
| 11/3/2022 | 5.4% | -8.7% | -17.6% |
| 8/9/2022 | 7.4% | 3.1% | -16.7% |
| 5/10/2022 | -26.4% | -4.1% | -12.6% |
| 2/24/2022 | -1.5% | -0.9% | 4.0% |
| 11/9/2021 | -8.1% | -4.3% | -26.2% |
| 8/10/2021 | 3.2% | -7.0% | -4.9% |
| 5/13/2021 | -2.5% | -12.0% | -9.8% |
| SUMMARY STATS | |||
| # Positive | 9 | 9 | 9 |
| # Negative | 12 | 12 | 12 |
| Median Positive | 5.4% | 9.9% | 24.3% |
| Median Negative | -3.8% | -8.4% | -16.3% |
| Max Positive | 18.3% | 22.6% | 66.8% |
| Max Negative | -26.4% | -21.0% | -36.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/12/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/13/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/15/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/12/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/13/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/15/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 02/25/2022 | 10-K |
| 09/30/2021 | 11/10/2021 | 10-Q |
| 06/30/2021 | 08/11/2021 | 10-Q |
| 03/31/2021 | 05/14/2021 | 10-Q |
| 12/31/2020 | 04/14/2021 | 424B4 |
Recent Forward Guidance
Updated 5/31/2026Latest: Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Transaction Revenue | 215.00 Mil | Higher New | |||||
| Q2 2026 S&S Revenue | 565.00 Mil | 605.00 Mil | 645.00 Mil | 2.5% | Raised | Guidance: 590.00 Mil for Q1 2026 | |
| Q2 2026 T&D + G&A Expenses | 820.00 Mil | 845.00 Mil | 870.00 Mil | -11.0% | Lowered | Guidance: 950.00 Mil for Q1 2026 | |
| Q2 2026 S&M Expenses | 200.00 Mil | 250.00 Mil | 300.00 Mil | -5.7% | Lowered | Guidance: 265.00 Mil for Q1 2026 | |
| Q2 2026 Stock-based Compensation | 240.00 Mil | -4.0% | Lowered | Guidance: 250.00 Mil for Q1 2026 | |||
| Q2 2026 Restructuring Expense | 50.00 Mil | 55.00 Mil | 60.00 Mil | Higher New | |||
| 2026 Adjusted Expenses | 4.25 Bil | 4.42 Bil | 4.60 Bil | Higher New | |||
Prior: Q4 2025 Earnings Reported 2/12/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Subscription and Services Revenue | 550.00 Mil | 590.00 Mil | 630.00 Mil | -21.3% | Lowered | Guidance: 750.00 Mil for Q4 2025 | |
| Q1 2026 Technology & Development + General & Administrative Expenses | 925.00 Mil | 950.00 Mil | 975.00 Mil | 0 | Affirmed | Guidance: 950.00 Mil for Q4 2025 | |
| Q1 2026 Sales and Marketing Expenses | 215.00 Mil | 265.00 Mil | 315.00 Mil | 0 | Affirmed | Guidance: 265.00 Mil for Q4 2025 | |
| Q1 2026 Total Stock-based Compensation | 250.00 Mil | ||||||
Insider Activity
Updated 6/18/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Jones, Jennifer N | Chief Accounting Officer | Direct | Sell | 6092026 | 158.15 | 2,051 | Form | ||
| 2 | Wilson, Frederick R | the Fred and Joanne Wilson 2012 Delaware Trust | Sell | 6032026 | 181.54 | 10,000 | 1,815,364 | 5,446,093 | Form | |
| 3 | Grewal, Paul | Chief Legal Officer | Direct | Sell | 5292026 | 176.88 | 1,960 | 346,683 | 14,991,021 | Form |
| 4 | Brock, Lawrence J | Chief People Officer | Direct | Sell | 5272026 | 189.01 | 6,616 | 1,250,483 | 97,718 | Form |
| 5 | Haas, Alesia J | Chief Financial Officer | Direct | Sell | 5192026 | 205.64 | 9,750 | 2,004,990 | 75,562,624 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Jones, Jennifer N | Chief Accounting Officer | Direct | Sell | 6092026 | 158.15 | 2,051 | Form | ||
| 2 | Wilson, Frederick R | the Fred and Joanne Wilson 2012 Delaware Trust | Sell | 6032026 | 181.54 | 10,000 | 1,815,364 | 5,446,093 | Form | |
| 3 | Grewal, Paul | Chief Legal Officer | Direct | Sell | 5292026 | 176.88 | 1,960 | 346,683 | 14,991,021 | Form |
| 4 | Brock, Lawrence J | Chief People Officer | Direct | Sell | 5272026 | 189.01 | 6,616 | 1,250,483 | 97,718 | Form |
| 5 | Haas, Alesia J | Chief Financial Officer | Direct | Sell | 5192026 | 205.64 | 9,750 | 2,004,990 | 75,562,624 | Form |
| 6 | Haas, Alesia J | Chief Financial Officer | Direct | Sell | 4202026 | 200.00 | 10,020 | 2,004,000 | 75,440,200 | Form |
| 7 | Haas, Alesia J | Chief Financial Officer | Direct | Sell | 3182026 | 201.60 | 9,950 | 2,005,933 | 78,064,279 | Form |
| 8 | Haas, Alesia J | CHIEF FINANCIAL OFFICER | Direct | Sell | 3062026 | 200.00 | 10,020 | 2,004,000 | 79,434,200 | Form |
| 9 | Grewal, Paul | Chief Legal Officer | Direct | Sell | 3032026 | 175.05 | 1,314 | 230,021 | 13,789,720 | Form |
| 10 | Jones, Jennifer N | Chief Accounting Officer | Direct | Sell | 2262026 | 154.38 | 1,102 | Form | ||
| 11 | Brock, Lawrence J | Chief People Officer | Direct | Sell | 2262026 | 154.39 | 4,821 | 744,327 | 76,733 | Form |
| 12 | Haas, Alesia J | Chief Financial Officer | Direct | Sell | 2102026 | 154.95 | 364,600 | 56,496,307 | 62,317,162 | Form |
| 13 | Haas, Alesia J | Chief Financial Officer | Direct | Sell | 1162026 | 250.00 | 8,050 | 2,012,532 | 17,666,281 | Form |
| 14 | Ehrsam, Frederick Ernest Iii | The Frederick Ernest Ehrsam III Living Trust | Sell | 1162026 | 250.27 | 1,375 | Form | |||
| 15 | Ehrsam, Frederick Ernest Iii | The Frederick Ernest Ehrsam III Living Trust | Sell | 1162026 | 260.09 | 2,750 | Form | |||
| 16 | Wilson, Frederick R | Direct | Sell | 1062026 | 234.37 | 10,000 | 2,343,685 | 43,351,849 | Form | |
| 17 | Armstrong, Brian | Chairman and CEO | Direct | Sell | 12232025 | 250.15 | 40,000 | Form | ||
| 18 | Ehrsam, Frederick Ernest Iii | The Frederick Ernest Ehrsam III Living Trust | Sell | 12222025 | 252.82 | 1,375 | Form | |||
| 19 | Haas, Alesia J | CHIEF FINANCIAL OFFICER | Direct | Sell | 12172025 | 266.49 | 5,633 | 1,501,132 | 20,976,408 | Form |
| 20 | Haas, Alesia J | CHIEF FINANCIAL OFFICER | ACB 2021, LLC | Sell | 12172025 | 268.00 | 1,742 | Form | ||
| 21 | Ehrsam, Frederick Ernest Iii | The Frederick Ernest Ehrsam III Living Trust | Sell | 12102025 | 280.27 | 2,750 | Form | |||
| 22 | Armstrong, Brian | Chairman and CEO | Direct | Sell | 12102025 | 273.86 | 40,000 | Form | ||
| 23 | Armstrong, Brian | Chairman and CEO | Direct | Sell | 12102025 | 257.31 | 40,000 | Form | ||
| 24 | Ehrsam, Frederick Ernest Iii | The Frederick Ernest Ehrsam III Living Trust | Sell | 12082025 | 274.06 | 4,125 | Form | |||
| 25 | Wilson, Frederick R | Direct | Sell | 12032025 | 259.19 | 10,000 | 2,591,914 | 50,535,320 | Form | |
| 26 | Ehrsam, Frederick Ernest Iii | The Frederick Ernest Ehrsam III Living Trust | Sell | 12022025 | 273.28 | 1,375 | Form | |||
| 27 | Grewal, Paul | Chief Legal Officer | Direct | Sell | 12012025 | 260.00 | 976 | 253,761 | 19,457,190 | Form |
| 28 | Grewal, Paul | Chief Legal Officer | Direct | Sell | 11262025 | 246.18 | 11,955 | 2,943,075 | 18,663,110 | Form |
| 29 | Brock, Lawrence J | Chief People Officer | Direct | Sell | 11262025 | 250.58 | 5,902 | 1,478,897 | 124,536 | Form |
| 30 | Jones, Jennifer N | Chief Accounting Officer | Direct | Sell | 11262025 | 244.49 | 1,787 | Form | ||
| 31 | Jones, Jennifer N | Chief Accounting Officer | Direct | Sell | 11242025 | 259.93 | 869 | 225,879 | 464,495 | Form |
| 32 | Ehrsam, Frederick Ernest Iii | The Frederick Ernest Ehrsam III Living Trust | Sell | 11242025 | 260.33 | 2,750 | Form | |||
| 33 | Haas, Alesia J | Chief Financial Officer | Direct | Sell | 11192025 | 273.62 | 5,500 | 1,504,887 | 21,703,205 | Form |
| 34 | Haas, Alesia J | Chief Financial Officer | ACB 2021, LLC | Sell | 11192025 | 274.78 | 1,742 | 478,667 | 478,667 | Form |
| 35 | Armstrong, Brian | Chairman and CEO | Direct | Sell | 11192025 | 271.87 | 40,000 | Form | ||
| 36 | Armstrong, Brian | Chairman and CEO | The Brian Armstrong Living Trust | Sell | 11142025 | 320.67 | 25,000 | 8,016,807 | 168,674 | Form |
| 37 | Choi, Emilie | President & COO | Direct | Sell | 11132025 | 310.88 | 100,000 | 31,087,593 | 58,383,122 | Form |
| 38 | Ehrsam, Frederick Ernest Iii | The Frederick Ernest Ehrsam III Living Trust | Sell | 11132025 | 321.81 | 55,688 | Form | |||
| 39 | Ehrsam, Frederick Ernest Iii | The Frederick Ernest Ehrsam III Living Trust | Sell | 11102025 | 288.77 | 19,927 | Form | |||
| 40 | Wilson, Frederick R | Direct | Sell | 11102025 | 301.46 | 10,000 | 3,014,587 | 61,790,886 | Form | |
| 41 | Ehrsam, Frederick Ernest Iii | The Frederick Ernest Ehrsam III Living Trust | Sell | 11102025 | 309.92 | 277,074 | Form | |||
| 42 | Armstrong, Brian | Chairman and CEO | The Brian Armstrong Living Trust | Sell | 11052025 | 337.49 | 25,000 | 8,437,156 | 177,518 | Form |
| 43 | Haas, Alesia J | Chief Financial Officer | Direct | Sell | 10172025 | 344.41 | 4,400 | 1,515,419 | 29,213,145 | Form |
| 44 | Haas, Alesia J | Chief Financial Officer | ACB 2021, LLC | Sell | 10172025 | 345.42 | 1,742 | 601,722 | 1,203,443 | Form |
| 45 | Armstrong, Brian | Chairman and CEO | The Brian Armstrong Living Trust | Sell | 10152025 | 361.32 | 25,000 | 9,033,103 | 190,056 | Form |
| 46 | Armstrong, Brian | Chairman and CEO | The Brian Armstrong Living Trust | Sell | 10062025 | 355.47 | 25,000 | 8,886,660 | 186,975 | Form |
| 47 | Grewal, Paul | Chief Legal Officer | Direct | Sell | 10032025 | 345.88 | 10,000 | 3,458,767 | 28,475,339 | Form |
| 48 | Haas, Alesia J | Chief Financial Officer | Direct | Sell | 9172025 | 322.24 | 4,675 | 1,506,480 | 28,750,408 | Form |
| 49 | Haas, Alesia J | Chief Financial Officer | ACB 2021, LLC | Sell | 9172025 | 322.22 | 1,742 | 561,307 | 1,683,922 | Form |
| 50 | Armstrong, Brian | Chairman and CEO | The Brian Armstrong Living Trust | Sell | 9172025 | 322.28 | 25,000 | 8,057,113 | 169,522 | Form |
| 51 | Armstrong, Brian | Chairman and CEO | The Brian Armstrong Living Trust | Sell | 9082025 | 302.19 | 25,000 | 7,554,679 | 158,950 | Form |
| 52 | Grewal, Paul | Chief Legal Officer | Direct | Sell | 9042025 | 304.52 | 10,000 | 3,045,196 | 25,070,487 | Form |
| 53 | Grewal, Paul | CHIEF LEGAL OFFICER | Direct | Sell | 8272025 | 310.80 | 15,439 | 4,798,456 | 25,587,624 | Form |
| 54 | Brock, Lawrence J | CHIEF PEOPLE OFFICER | Direct | Sell | 8262025 | 311.37 | 5,903 | 1,838,022 | 148,835 | Form |
| 55 | Jones, Jennifer N | CHIEF ACCOUNTING OFFICER | Direct | Sell | 8262025 | 300.52 | 1,756 | Form | ||
| 56 | Jones, Jennifer N | Chief Accounting Officer | Direct | Sell | 8222025 | 304.74 | 869 | 264,819 | 535,123 | Form |
| 57 | Haas, Alesia J | Chief Financial Officer | Direct | Sell | 8192025 | 322.44 | 4,660 | 1,502,591 | 28,655,304 | Form |
| 58 | Haas, Alesia J | Chief Financial Officer | ACB 2021, LLC | Sell | 8192025 | 322.88 | 1,741 | 562,134 | 2,249,828 | Form |
| 59 | Armstrong, Brian | Chairman and CEO | The Brian Armstrong Living Trust | Sell | 8142025 | 326.71 | 25,000 | 8,167,848 | 171,852 | Form |
| 60 | Armstrong, Brian | Chairman and CEO | The Brian Armstrong Living Trust | Sell | 8062025 | 317.09 | 25,000 | 7,927,236 | 166,789 | Form |
| 61 | Armstrong, Brian | Chairman and CEO | The Brian Armstrong Living Trust | Sell | 7172025 | 397.87 | 198,300 | 78,898,428 | 209,282 | Form |
| 62 | Armstrong, Brian | Chairman and CEO | The Brian Armstrong Living Trust | Sell | 7172025 | 397.17 | 183,506 | 72,882,582 | 208,910 | Form |
| 63 | Haas, Alesia J | Chief Financial Officer | Direct | Sell | 7172025 | 391.06 | 3,837 | 1,500,481 | 36,575,063 | Form |
| 64 | Haas, Alesia J | Chief Financial Officer | ACB 2021, LLC | Sell | 7172025 | 391.09 | 1,741 | 680,888 | 3,406,003 | Form |
| 65 | Armstrong, Brian | Chairman and CEO | The Brian Armstrong Living Trust | Sell | 7152025 | 395.82 | 165,443 | 65,485,683 | 208,201 | Form |
| 66 | Armstrong, Brian | Chairman and CEO | The Brian Armstrong Living Trust | Sell | 7152025 | 389.05 | 27,751 | 10,796,553 | 204,641 | Form |
| 67 | Grewal, Paul | Chief Legal Officer | Direct | Sell | 7032025 | 348.64 | 10,000 | 3,486,433 | 28,703,109 | Form |
| 68 | Armstrong, Brian | Chairman and CEO | The Brian Armstrong Living Trust | Sell | 7032025 | 338.29 | 25,000 | 8,457,278 | 177,941 | Form |
| 69 | Armstrong, Brian | Chairman and CEO | The Brian Armstrong Living Trust | Sell | 6272025 | 363.15 | 113,735 | 41,303,017 | 191,018 | Form |
| 70 | Haas, Alesia J | Chief Financial Officer | Direct | Sell | 6272025 | 360.20 | 3,000 | 1,080,600 | 35,071,233 | Form |
| 71 | Armstrong, Brian | Chairman and CEO | The Brian Armstrong Living Trust | Sell | 6272025 | 362.61 | 336,265 | 121,934,260 | 190,735 | Form |
| 72 | Grewal, Paul | Chief Legal Officer | Direct | Sell | 6232025 | 280.02 | 1,952 | 546,608 | 23,053,882 | Form |
| 73 | Haas, Alesia J | Chief Financial Officer | Direct | Sell | 6182025 | 247.47 | 6,080 | 1,504,627 | 24,837,725 | Form |
| 74 | Haas, Alesia J | Chief Financial Officer | ACB 2021, LLC | Sell | 6182025 | 247.50 | 1,741 | 430,898 | 2,586,375 | Form |
| 75 | Armstrong, Brian | Chairman and CEO | The Brian Armstrong Living Trust | Sell | 6132025 | 255.34 | 25,000 | 6,383,468 | 134,308 | Form |
| 76 | Grewal, Paul | Chief Legal Officer | Direct | Sell | 6032025 | 245.36 | 10,000 | 2,453,593 | 20,678,885 | Form |
| 77 | Armstrong, Brian | Chairman and CEO | The Brian Armstrong Living Trust | Sell | 6032025 | 247.15 | 25,000 | 6,178,715 | 130,000 | Form |
Coinbase Global — Investor Video Playlist
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Financial Exchanges & Data Resources |
| WatersTechnology |
| TabbFORUM |
| Mondovisione |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.