Coinbase reported Q2 earnings that fell short of analyst expectations, attributing the miss to softer spot trading activity and low market volatility. Despite the earnings shortfall, the exchange maintained record cryptocurrency market share and noted positive growth in derivatives, stablecoins, and tokenized finance segments.
Coinbase's second-quarter earnings underperformed market expectations, with the company citing softer spot trading volumes and low market volatility as key headwinds. Spot trading—the direct purchase and sale of cryptocurrencies at current market prices—typically generates significant revenue for exchanges, but reduced activity in this segment impacted profitability. Despite the earnings miss, Coinbase highlighted several areas of strength: it achieved record cryptocurrency market share during the period, and reported growth in derivatives trading, stablecoin products, and the emerging tokenized finance sector. These growth areas suggest the company is diversifying revenue streams beyond traditional spot trading.
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The chart totals every SEC-reported transaction by month and share count, separating informative purchases and sales from non-informative awards, vesting, exercises, tax withholding and transfers. Records without a reported price remain included. Only informative purchases and sales affect the conservative sentiment signal.
Recent SEC-reported share and derivative transactions in Coinbase Global, Inc..
0 discretionary purchases · 0 discretionary sales
Confidence: Low
| Insiders | Activity | Description | Shares | Avg. price / share | Est. value | Trade date |
|---|---|---|---|---|---|---|
| DirectorAndreessen Marc L | Non-informative sell | Class A Common StockReported 10b5-1 plan (S) | 6,838 | $198.00 | $1,353,924 | Oct 2, 2026 |
| DirectorAndreessen Marc L | Non-informative sell | Class A Common StockReported 10b5-1 plan (S) | 13,676 | $186.18 | $2,546,198 | Oct 1, 2026 |
| Chief Financial OfficerHAAS ALESIA J | Non-informative sell | Class A Common StockReported 10b5-1 plan (S) | 410 | $203.6671 | $83,504 | Sep 21, 2026 |
| Chief Financial OfficerHAAS ALESIA J | Non-informative sell | Class A Common StockReported 10b5-1 plan (S) | 35,840 | $205.1436 | $7,352,347 | Sep 21, 2026 |
| Chief Financial OfficerHAAS ALESIA J | Non-informative sell | Class A Common StockReported 10b5-1 plan (S) | 1,409 | $206.4181 | $290,843 | Sep 21, 2026 |
As filed with the SEC. Estimated value is shown only for purchases or sales with a positive reported transaction price; awards, gifts and similar activity are not assigned an assumed market value. Amendments may change the record. This is not investment advice.
Quarterly reported positions. These filings can arrive up to 45 days after quarter-end and are not real-time trades.
Institutional ownership: 77.73%
Open short positions reported twice monthly; this is not daily short-sale volume.
Recent reported earnings per share compared with the analyst consensus available from Nasdaq.
| Owner | Activity | Change | Shares held | Value (thousands) | Reported |
|---|---|---|---|---|---|
| Vanguard Group Inc | Buy | 184,043 (0.702%) | 26,400,836 | $4,252,911 | 12/31/2025 |
| Blackrock, Inc. | Sell | -34,623 (-0.207%) | 16,710,783 | $2,691,940 | 6/30/2026 |
| Vanguard Capital Management Llc | Buy | 35,954 (0.254%) | 14,165,975 | $2,281,997 | 6/30/2026 |
| Vanguard Portfolio Management Llc | Buy | 83,501 (0.88%) | 9,571,891 | $1,541,936 | 6/30/2026 |
| State Street Corp | Buy | 201,983 (2.158%) | 9,562,203 | $1,540,375 | 6/30/2026 |
| Geode Capital Management, Llc | Buy | 24,622 (0.402%) | 6,154,642 | $991,451 | 6/30/2026 |
| Morgan Stanley | Buy | 3,623 (0.095%) | 3,802,156 | $612,489 | 6/30/2026 |
| Paradigm Operations Lp | Sell | -404,131 (-11.259%) | 3,185,297 | $513,119 | 6/30/2026 |
| Norges Bank | Sell | -114,131 (-3.93%) | 2,790,018 | $449,444 | 6/30/2026 |
| Goldman Sachs Group Inc | Buy | 34,221 (1.363%) | 2,544,211 | $409,847 | 6/30/2026 |
| Ark Investment Management Llc | Buy | 138,435 (5.834%) | 2,511,319 | $404,548 | 6/30/2026 |
| Ubs Group Ag | Sell | -201,548 (-8.011%) | 2,314,441 | $372,833 | 6/30/2026 |
Source: Nasdaq
| Settlement date | Short interest | Avg. daily volume | Change vs. previous report | Days to cover |
|---|---|---|---|---|
| Oct 15, 2026 | 23,767,692 | 8,290,513 | -2.49% | 2.87 |
| Sep 30, 2026 | 24,374,578 | 9,735,653 | -3.41% | 2.50 |
| Sep 15, 2026 | 25,234,463 | 9,086,145 | -7.83% | 2.78 |
| Aug 31, 2026 | 27,378,540 | 11,571,626 | +19.46% | 2.37 |
| Aug 14, 2026 | 22,918,131 | 7,011,251 | +5.17% | 3.27 |
| Jul 31, 2026 | 21,790,827 | 8,025,201 | -13.00% | 2.72 |
| Jul 15, 2026 | 25,046,921 | 6,818,290 | +0.75% | 3.67 |
| Jun 30, 2026 | 24,859,937 | 8,367,215 | — | 2.97 |
Source: Nasdaq
| Fiscal quarter | Reported | EPS | Consensus | Surprise |
|---|---|---|---|---|
| Jun 2026 | Jul 30, 2026 | -0.39 | 0.14 | -378.57% |
| Mar 2026 | May 7, 2026 | -0.17 | 0.36 | -147.22% |
| Dec 2025 | Feb 12, 2026 | 0.66 | 0.92 | -28.26% |
| Sep 2025 | Oct 30, 2025 | 1.44 | 1.03 | +39.81% |
Source: Nasdaq
