Odaily Planet Daily News Coinbase released its Q1 2025 financial report, with revenue falling 12% month-on-month to $2.03 billion, lower than market expectations, and trading revenue falling nearly 19% year-on-year to $1.3 billion. Weak trading volume in April put pressure on the outlook for the second quarter, and analysts such as JPMorgan Chase and KBW lowered their full-year revenue expectations.
However, Coinbase's acquisition of Deribit, the world's largest crypto derivatives exchange, for $2.9 billion has attracted market attention. Analysts such as Bernstein and Canaccord gave positive comments, believing that this move will enhance Coinbase's strategic position in the derivatives field and help its global layout.
In addition, stablecoin business and service revenue such as custody and trading technology increased by 9% to $698 million, becoming its key growth pillar for hedging market fluctuations. USDC balance surged to $12.3 billion, and the "Coinbase as a service" model is also seen as a potential long-term growth engine. (CoinDesk)