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Coinbase Wants to Turn Crypto Platforms Into Financial Infrastructure
“Crypto is eating financial services.” That was what Coinbase CEO Brian Armstrong told investors on Thursday’s (May 8) first quarter 2025 earnings call. Coinbase revenue for the quarter reached $2.03 billion, down 10% from the prior quarter but ahead of consensus expectations. Adjusted EBITDA came in at $930 million, while net income fell sharply to $66 million, impacted by a $597 million pretax loss on its crypto investment portfolio, primarily unrealized. But arguably the most transformational part of Coinbase’s Q1 wasn’t financial — it was political. After years of regulatory uncertainty in the U.S., ... (full story)
