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Coinbase (Nasdaq: COIN) founder and CEO Brian Armstrong turned the corporate’s Q3 2025 earnings name right into a lottery of kinds for crypto merchants on prediction markets.
Launched by Brian Armstrong in 2012, Coinbase is the main crypto buying and selling trade within the U.S. which serves over 100 million customers right this moment. The corporate went public on Nasdaq in 2021 and have become the first crypto firm to discover a spot on the S&P 500 index in Might this 12 months.
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As reported earlier, Coinbase revealed its Q3 earnings on Oct. 30 and beat analyst estimates. It reported $1.5 in earnings per share (EPS) for Q3 as in comparison with an estimated $1.05. Coinbase earned a quarterly income of $1.86 billion, towards the estimated $1.8 billion.
Later within the day, senior Coinbase executives and buyers gathered for the earnings name that went viral inside hours after Armstrong dropped 5 iconic phrases towards the top.
Armstrong stunned the crypto buying and selling neighborhood when he dropped 5 phrases that he noticed the prediction market was relying on Coinbase to say throughout the name.
“I used to be a bit of distracted as a result of I used to be monitoring the prediction market about what Coinbase will say on their subsequent earnings name, and I simply need to, you realize, add right here the phrases “Bitcoin,” “Ethereum,” “Blockchain,” “Staking” and “Web3″ to ensure we get these in earlier than the top of the decision.”
The second rapidly went viral on X. “What a wild time to be alive,” stated a Kalshi person, @0xTyrael. Armstrong responded that it was a spontaneous second after a group member dropped a hyperlink within the chat.
Crypto entrepreneur Anthony Pompliano referred to as Armstrong a “legend” for dropping phrases individuals had been betting on him to say.
Apart from the viral section, the earnings name centered on Coinbase’s efficiency and future plans.
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Coinbase CFO Alesia Haas stated that over the course of 2025, it has made a big funding in headcount to capitalize on totally different alternatives and speed up the imaginative and prescient of the Every thing Alternate.
Armstrong stated the Every thing Alternate is “actually central to the following chapter of what we’re constructing.” He stated the corporate will share extra particulars at its product showcase on Dec. 17.
“And I’d say that Every thing Alternate can be a good complement to all the opposite options that we’ve constructed into Coinbase together with DeFi borrow lend, USDC, world funds, Coinbase Card – individuals actually love that product – Base is having actually robust momentum. And so I believe these are all going to come back collectively. Our objective long run is to be the primary monetary app, and that’s what we’re engaged on.”
Armstrong stated the vast majority of world funds will ultimately shift to stablecoins as a result of they permit you to ship cash the world over in below one second for lower than $0.01.
“And no different cost rail can match this.”
Coverage developments just like the GENIUS Act will drive additional stablecoin adoption, he stated.
“In Q3, Coinbase clients held on common, $15 billion of USDC on platform, making us the most important contributor to USDC’s all-time excessive $74 billion market cap.”
Armstrong stated world institutional funds are what Coinbase is concentrating on.
“We’re constructing funds for companies. Coinbase companies account for small, medium-sized companies. We’re including varied services and products in there round invoices and the right way to pay contractors and distributors. A whole lot of it’s cross-border, however even inside nation, it’s highly effective.”
Coinbase acquired Deribit, the world’s largest crypto choices buying and selling trade, and the 2 platforms collectively drove over $840 billion in complete derivatives quantity throughout Q3.
Haas stated Deribit is already the choices market chief, accounting for over 75% market share.
“Notably, that is all non-U.S., and so there’s a path to develop the marketplace for choices within the U.S. that’s going to be a multi-quarter roadmap of bringing each the regulatory licenses and product to bear within the U.S., however we predict that’s an enormous alternative for us.”
Coinbase just lately acquired Echo, an onchain capital-raising platform. Armstrong stated Echo is a extremely modern firm that they determined to accumulate.
“And we’re attempting to make it simple for anybody to lift cash. After which the fantastic thing about combining it with Coinbase is that – we now have now over $500 billion of belongings.”
“The fourth quarter is off to a powerful begin,” stated Haas. She additionally laid out Coinbase expectations for October.
Transaction income: $385 million
Subscription and providers income: $710 million-$790 million
Tech, growth and G&A expense: $925 million-$975 million, pushed by acquisitions and headcount progress
Gross sales and advertising and marketing bills: $215 million-$315 million
On Oct. 31, the COIN inventory closed at $343.78, up greater than 4% within the final 24 hours.
To date this week, the inventory closed decrease each single day; the most recent uptick displays a hopeful sentiment of the merchants.
This story was initially reported by TheStreet on Oct 31, 2025, the place it first appeared within the Enterprise Information part. Add TheStreet as a Most popular Supply by clicking right here.
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