Coinbase is gearing up to offer tokenized stocks and prediction markets in the U.S., aiming to become a fully integrated financial platform powered by blockchain. These new services, part of Coinbase’s vision of an “everything exchange,” will allow trading of traditional equities, early-stage tokens, and derivatives—all conducted on-chain for transparency and accessibility. The firm also acquired 2,509 BTC in Q2 2025 to strengthen its crypto treasury.
However, this ambitious expansion comes amid disappointing financial results. Coinbase reported Q2 revenue of $1.5 billion, missing FactSet estimates of $1.59 billion. Adjusted EBITDA dropped to $512 million from $596 million a year earlier. Despite strong gains in crypto prices, trading volume and transaction revenue fell sharply—transaction revenue was down 39% from Q1 to $764 million. As a result, Coinbase stock slid 7% in after-hours trading. The mixed quarter underscores both the promise and volatility of Coinbase’s blockchain-based market strategy.
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