Coinbase publishes 2026 annual report for fiscal 2025

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  • Coinbase Global published its annual report for the fiscal year ended Dec. 31, 2025, outlining a major product expansion strategy.
  • Trading offering broadened beyond spot crypto into stocks, commodity futures, perpetual futures, event contracts, and prediction markets under an “Everything Exchange” push.
  • Institutional business highlighted prime brokerage growth, supported by four exchanges spanning spot and derivatives, including Deribit for crypto options.
  • Onchain ecosystem remained a key focus, with Base generating revenue from sequencer fees, supported by the Base App self-custody wallet.
  • Subscription and services emphasis centered on stablecoin economics tied to USDC reserves, staking commissions, custody fees, and Coinbase One memberships.


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