The year 2025 proved to be extraordinary for Coinbase Global, Inc., the cryptocurrency exchange platform listed on Nasdaq under the ticker COIN.
The company released its financial results for the fourth quarter and the entire year, confirming unprecedented growth in both trading volume and market share. All Q4 financial data aligned with expectations, demonstrating solid operational discipline and a remarkable acceleration in the development of new products.
The Vision of the Everything Exchange
Brian Armstrong, co-founder and CEO of Coinbase, emphasized how the Everything Exchange strategy is bearing fruit.
In 2025, Coinbase reached new all-time highs across all its main product lines: subscriptions to Coinbase One approached one million, trading volume and market share doubled, while the USDC balance held on the platform reached unprecedented levels.
Armstrong stated that Coinbase is now in a favorable position to seize all the opportunities that 2026 may offer. Already in the first quarter, the platform recorded the highest 24-hour trading volume of the past year, with record peaks also in gold, silver markets, spot trading enabled on DEX, and prediction markets.
Financial Performance and Revenue Diversification
Alesia Haas, CFO of Coinbase, highlighted how 2025 was a year of great operational and financial solidity. The company met or exceeded revenue and expense forecasts every quarter, continuing a multi-year streak of profitability. Another strength was revenue diversification: Coinbase now boasts 12 products each generating over $100 million in annualized revenue.
Staggering Numbers: The All-Time Highs of 2025
Trading Volume and Market Share
The total trading volume on Coinbase reached $5.2 trillion, marking a 156% increase compared to the previous year. The market share in cryptocurrency trading rose to 6.4%, doubling compared to 2024.
Revenue from Subscriptions and Services
Revenues from subscriptions and services have reached $2.8 billion, growing 5.5 times compared to the peak of the previous bull cycle in 2021. Paying subscribers to Coinbase One are nearly one million, with growth exceeding threefold in just three years.
USDC and Platform Assets
The average balance of USDC held in Coinbase products reached $17.8 billion, while the average market capitalization of USDC stood at $76.2 billion. The total assets on the platform have tripled over the past three years, and by 2025, over 12% of all cryptocurrencies globally were held on Coinbase.
Innovation and Growth in Derivatives and New Products
Coinbase has accelerated towards realizing its vision of a universal platform, where users can trade every asset class. It was the first to launch perpetual-style futures available 24/7 in the United States, contributing to a fourfold increase in market share in derivatives compared to the previous year. The fourth quarter also saw new all-time highs in derivatives trading volume.
On an international level, Coinbase has completed the acquisition of Deribit, establishing itself as a global leader in crypto derivatives for open interest and options volume, with new records in both volume and revenue since the acquisition.
The offering has further expanded with the launch of prediction markets and equities, thereby reducing the revenue correlation to solely cryptocurrency price fluctuations.
A Trusted Partner for Businesses and Institutions
Coinbase remains the most reliable crypto platform with the widest range of products. Today, thousands of companies choose Coinbase as a partner for cryptocurrency integration, including over 270 Crypto-as-a-Service clients and 150 government agencies.
Coinbase, Market Leader and Trusted Custodian
User trust is reflected in the amount of assets held on the platform, which has seen a threefold growth over the past three years. In 2025, Coinbase held over 12% of all global cryptocurrencies, establishing itself as the benchmark for the custody and exchange of digital assets.
Future Outlook
With a solid financial foundation, an ever-expanding range of products, and a leadership position in the industry, Coinbase looks to 2026 with optimism. The company is poised to seize new opportunities presented by the evolution of digital markets, backed by a strategy focused on innovation, diversification, and reliability.
In a rapidly evolving landscape, Coinbase reaffirms itself as a key player, ready to lead the next phase of growth in the global crypto ecosystem.
Source: https://en.cryptonomist.ch/2026/02/13/coinbase-reaches-new-all-time-highs-trading-volume-and-revenue-in-strong-growth-in-2025/
