Researcher: Coinbase's total revenue is projected to be approximately $7.2 billion in 2025, with Q4 revenue decreasing by 5% quarter-over-quarter.

2026-02-11 04:34:05

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Mars Finance reports that Coinmetrics senior researcher Tanay Ved estimates Coinbase’s total revenue for Q4 2025 will be $1.77 billion, down 5% from $1.87 billion in Q3, due to declines in trading volume and asset prices offsetting growth in derivatives trading and USDC. Trading revenue is expected to be $978 million (a 6% quarter-over-quarter decrease), with Deribit’s full-quarter contribution driving institutional business growth. Subscription and service revenue remains resilient at $723 million, with USDC supply growth offsetting the impact of Federal Reserve rate cuts and reduced staking rewards. The firm forecasts Coinbase’s total revenue for fiscal year 2025 to be approximately $7.2 billion, reflecting ongoing revenue diversification and strategic expansion into derivatives. It is reported that Coinbase will release its Q4 2025 and full-year financial results after market close on Wednesday, February 12.

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