Coinbase, Slips

Coinbase Slips into Loss After Eight Quarters of Profit

13.02.2026 - 13:22:06

Coinbase, the leading U.S. cryptocurrency exchange, ended its streak of eight profitable quarters by moving back into the red in Q4 2025. The quarterly results were marred by hefty non-operating charges and a weak retail business, and they fell well short of Wall Street expectations. Investors now wonder whether the setback is temporary or indicative of a deeper, structural shift.

  • Net loss for Q4 2025: $667 million
  • Revenue: $1.78 billion, vs. consensus around $1.83 billion
  • Year-over-year revenue: down about 20%

A primary drag on the quarter came from non-operating items. Coinbase booked a $718 million impairment on its crypto portfolio, complemented by a $395 million loss tied to strategic equity stakes. On the operating front, transaction revenue Read more...

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