tl;dr
Coinbase purchased 2,509 BTC in Q2 2025, increasing its Bitcoin holdings by about $290 million and entering the top 10 public companies by Bitcoin holdings, surpassing Tesla. CEO Brian Armstrong reaffirmed Coinbase's bullish stance on Bitcoin. However, Coinbase's Q2 revenue of $1.5 billion fell shor...
Coinbase reported purchasing 2,509 BTC in Q2 2025, signaling an increase in its Bitcoin holdings. CEO Brian Armstrong emphasized the exchange's strong bullish stance on Bitcoin, noting that Coinbase is "long Bitcoin" and continuously buying more. With the addition of approximately $290 million worth of Bitcoin, Coinbase ascended into the top 10 public companies by Bitcoin holdings, surpassing Tesla.
Despite this strategic move, Coinbase's Q2 financial results disappointed investors. The exchange posted total revenue of $1.5 billion, below analysts' expectations of $1.59 billion, leading to a share price decline of over 9% in after-hours trading. In contrast, rival Robinhood reported stronger-than-expected revenue of $989 million, marking a 45% year-on-year increase and beating forecasts.
Looking ahead, Coinbase is preparing to launch an innovative “everything exchange” targeting US users. This platform aims to provide a broad array of crypto services, including tokenized stocks, prediction markets, derivatives, and early token sales. Max Branzburg, Coinbase’s vice president of product, described the vision as building an exchange that encompasses all assets onchain, fostering a faster, more accessible, and global economy.
The upcoming rollout is set to begin in the United States with plans for gradual international expansion, subject to jurisdictional approvals. This announcement aligns with recent regulatory movements, notably the US SEC’s launch of ‘Project Crypto,’ aimed at modernizing securities regulations for crypto trading. Other major players like Robinhood, Kraken, and Gemini have also ventured into tokenized equity offerings, reflecting a broader industry trend toward blockchain-based digital assets.