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Coinbase Reports $667M Q4 Loss as Crypto Market Downturn Hits Revenues

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Coinbase earnings simply broke its streak, and never in a great way. After eight straight profitable quarters, it posted a brutal $667 million web loss in Q4 2025. That is a punch to the face.

As crypto costs slid from their yearly highs, the change utterly missed Wall Street income expectations.

Revenue got here in at $1.78 billion. Sounds massive, nevertheless it was beneath the $1.85 billion analysts anticipated. Transaction income was the actual harm. Down 37% to $982.7 million.

That tells you every thing about dealer exercise proper now.

Key Takeaways

  • Coinbase reported a $667 million web loss, its first revenue miss since Q3 2023.
  • Revenue fell 21.5% YoY to $1.78 billion, lacking analyst expectations.
  • Transaction charges plummeted 37% as retail merchants exited the market.
  • Shares (COIN) dipped 7.9% intraday however rebounded practically 3% after hours.

Is the Bull Market Officially Over? How Coinbase Can Survive It

That $667 million loss isn’t just a foul quarter. It screams deeper cycle weak spot. An enormous chunk of it got here from unrealized losses on Coinbase personal crypto holdings after costs collapsed from the October 2025 highs.

When Bitcoin falls from practically $126,000 to the mid $60k vary, no person walks away clear. Not even the exchanges.

This type of volatility feels much like the uncertainty throughout the FTX fallout days. Brian Armstrong continues to be calling this downturn psychological.

Retail merchants are barely lively. Transaction income, which is the core engine of the enterprise, dried up as quantity vanished.

Casual cash is staying on the sidelines. And that’s the very last thing Coinbase wanted.

Discover: The best crypto to diversify your portfolio

COIN Stock Resilience or Dead Cat Bounce?

Even after that ugly earnings report, COIN inventory truly climbed 2.9% in after-hours, sitting close to $145. Sounds loopy, proper?

But the inventory had already dropped 7.9% throughout the common session. Traders in all probability priced within the catastrophe earlier than the numbers even hit.

Source: COINUSD / TradingView

Still, the outlook is just not precisely comforting. Subscription and providers income was the one actual brilliant spot, up 13% to $727.4 million.

That helped soften the blow. But administration is already guiding decrease for Q1 2026, anticipating that determine to fall into the $550 to $630 million vary. That is just not small.

If even the so-called secure income begins shrinking, the security cushion will get skinny quick. And if that occurs, a retest of the $139 zone, close to the 52-week lows, wouldn’t be stunning in any respect.

Discover: What is the next crypto to explode?

The submit Coinbase Reports $667M Q4 Loss as Crypto Market Downturn Hits Revenues appeared first on Cryptonews.

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