Coinbase Q2 2025 Earnings Show Mixed Results with Stablecoin Revenue Growth Amid Market Slowdown

Key Points

1. Coinbase's Q2 2025 revenue declined by 26% to $1.5 billion, missing Wall Street estimates, primarily due to lower trading volumes.

2. Stablecoin-related income grew by 12% to $332 million, providing resilience amid the market slowdown.

3. Subscription and services revenue decreased by 6% to $656 million.

4. Coinbase achieved policy milestones, including the signing of the GENIUS Act and the passage of the CLARITY Act, which aim to provide regulatory clarity for stablecoins and crypto growth.

5. The company launched the Base App, attracting over 700,000 users in its beta phase, and announced plans for an 'everything exchange' to diversify offerings.