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Coinbase
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Updated Sep 2, 2026
Coinbase expands board to ten directors; appoints Anthony Armstrong to Audit and Compliance Committee.
Coinbase increased its Board size from nine to ten directors on September 1, 2026, appointing Anthony Armstrong effective immediately. Armstrong will serve on the Audit and Compliance Committee under the company's standard non-employee director compensation program. The appointment carries no material related-party transaction disclosures and reflects normal corporate governance evolution.
Tone: neutralRevenue
$7.2B
COIN 10-K · FY 2025
Employees
4,951
Revenue FY2024
$6.6B
Founded
2012
Profile
COIN 10-K Item 1 · Feb 12, 2026Coinbase Global, Inc. is a crypto-native financial platform serving retail consumers, institutional clients, and developers with trading, custody, staking, stablecoin, and developer infrastructure products. In December 2025, the company expanded its offering to include equities, commodity futures, perpetual futures, and prediction markets under its 'Everything Exchange' vision. The platform also operates Base, a decentralized Layer-2 Ethereum blockchain, and completed the acquisition of Deribit, the global leader in crypto options trading, in August 2025.
Read filing description ↓ Collapse description ↑
We are working to update the century-old financial system by providing a trusted platform that makes it easy for our customers to engage with crypto assets. In December 2025, we took a major step forward to becoming the Everything Exchange—dramatically expanding the assets available to trade on Coinbase, including stocks, commodity futures, perpetual futures, and prediction markets. Our goal is to create a comprehensive, seamless experience for retail users, institutions, and developers to engage in the future of finance. We offer products primarily to three customer groups: Consumers, who seek to hold, invest or trade crypto assets as well as equities, prediction markets, and derivatives; Institutions, including market makers, asset managers, hedge funds, banks, wealth platforms, registered investment advisors, payment platforms, and public and private corporations; and Developers, including technology companies, financial institutions, and payment firms that leverage the Base Chain and Coinbase Developer Platform to build and scale crypto-enabled products. Our business consists of products we monetize through transaction fees, such as our consumer trading product suite, as well as subscription products, such as our stablecoin products. We differentiate ourselves through trust—holding customer assets one-to-one at all times—and ease of use, building products that prioritize quality, craft, and simplicity for financial transactions.
Primary products
- Simple trade
- Advanced trade
- Coinbase Prime
- Coinbase Exchange
- Coinbase International Exchange
- Coinbase Derivatives Exchange
Business segments
End markets
Geographies
Named customers
For the years ended December 31, 2025 and 2024, we derived a meaningful amount of our net revenue from transaction fees generated in connection with the trading of Bitcoin and Ethereum; these trading pairs drove approximately 45% and 46% of total Trading Volume on our platform during these periods, respectively.
“We differentiate ourselves from our competition first through our focus on building easy to use products, and second through investing in our trusted brand as a compliant and secure platform.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenue grew from $6.56 billion in 2024 to $7.18 billion in 2025, driven by growth in both transaction revenue and subscription and services revenue, including stablecoin revenue reaching an all-time high in USDC market capitalization.
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