Coinbase eyes ‘Everything Exchange’ despite Q2 revenue decline

Key Points

1. Coinbase's Q2 revenue was $1.5 billion, a 26% decline from the previous quarter, with transaction revenue dropping 39% to $764 million due to lower volatility.

2. Stablecoin revenue grew 12% to $332 million, with USDC balances reaching $13.8 billion, and the company projects higher Q3 subscription and services revenue ($665–$745 million).

3. CEO Brian Armstrong emphasized the need to enable more assets to adapt to the new regulatory environment, following SEC Chair Paul Atkins' speech and the White House's digital finance report.

4. Competitor Robinhood also saw a 36% drop in Q2 transaction revenue to $160 million, with both companies' stocks declining (COIN down 16%, HOOD down 6%).

5. MicroStrategy reported $10 billion in net income, holds 628,791 BTC (~$74 billion), and CEO Phong Le envisions surpassing Berkshire Hathaway's capital base in 3-5 years.