Coinbase marks the best quarter in its history in 2025: over 1.4 billion in net profit, a growth of 3,861% year-on-year. Strategic acquisitions and new European licenses open a new phase for the USA exchange.
Record profits: +3,861% in 2025 for Coinbase
In the second quarter of 2025, Coinbase recorded a net profit of 1.43 billion dollars, compared to 36 million in the same period of 2024.
An impressive growth that, as highlighted by CNBC, surprised the crypto market and strengthened the role of the exchange as a key player in financial innovation.
Various factors have contributed to the boom:
- Growth in volumes on Bitcoin and Ethereum, which has generated strong revenue from fees.
- Launch of premium services for wealth management.
- Expansion through acquisitions and entry into institutional markets.
According to experts, Coinbase has been able to capture the renewed interest in cryptovalute by offering advanced tools and a regulated infrastructure.
| Balance Sheet Item | Value Q2 2025 |
| Net Income | $1.43 billion |
| Trading Fees | $764 million |
| Services and Subscriptions | $656 million |
| Total Assets Under Management | $420 billion |
| Bitcoin Held (company) | ~900,000 BTC |
| Ethereum Held | ~90,000 ETH |
Over 70% of the managed digital assets consist of Bitcoin, while the liquidity amounts to approximately 7.5 billion in cash and 2.2 billion in USDC.
Direct exposure to Bitcoin represents the heart of Coinbase’s strategy, but also a possible vulnerability.
A 50% price variation could have a potential impact of about 919 million dollars on the value of the assets, even if this figure has not been officially confirmed in the financial statements.
According to CoinDesk, the volatility of BTC in the first half of 2025 exceeded 40% annually, making the risk associated with such a concentration evident.
Europe: with the MiCA license Coinbase enters 27 countries
The obtaining of the MiCA license in Luxembourg has allowed Coinbase to offer regulated services throughout the EU.
This authorization strengthens the platform’s position with retail and institutional investors, ensuring greater transparency and regulatory compliance.
As confirmed by CNBC, this is one of the most significant expansions of Coinbase in 2025.
In May, Coinbase announced the acquisition of the platform Deribit for approximately 2.9 billion dollars, of which 700 million in cash and 11 million in shares.
The operation aims to consolidate Coinbase’s presence in the crypto derivatives sector, strengthening the offering for professional investors.
The final closure is subject to the approval of the regulators, as reported by CoinDesk.
Despite the exceptional results, Coinbase has had to face challenges:
- Cyberattack in May: damages estimated at 400 million dollars.
- State legal actions, such as the one from Oregon related to the promotion of high-risk investments.
- The SEC has withdrawn the federal lawsuit, reducing regulatory uncertainty.
Despite everything, Coinbase closed the semester with an operating profit of 681 million dollars, demonstrating financial solidity.
Global Outlook: Coinbase increasingly a leader
With annual volumes amounting to 237 billion dollars, Coinbase consolidates its role as a leader among global exchanges.
The slight decline in quarterly volumes does not reduce the impact of long-term growth, thanks to:
- Regulated expansion in Europe
- Presence in the derivatives market
- Solid management of liquidity and assets
- Ability to respond to reputational and cyber crises
The year 2025 marks a turning point for Coinbase, which confirms itself as the center of the global digital economy.
The real challenge now will be to diversify beyond Bitcoin, consolidate the new licenses, and maintain the trust of investors in an increasingly competitive regulatory environment.
For those looking to the future of the crypto-economy, it will be essential to closely follow the next moves of the San Francisco exchange.
