Coinbase earnings drop in 4 hours. Expectations are cooked.
Revenue est: $1.21B vs $1.87B last year
Trading vol est: $137B (less than half of last year)
Spot trading is dead weight. Real alpha is in the mix:
→ Subscription rev
→ $USDC income streams
→ Derivatives growth
But let's be real — Coinbase is still a slave to crypto market activity. Tonight's numbers will show if they've actually diversified or if they're just riding hopium.
Watch the call. Guidance matters more than the print.
Revenue est: $1.21B vs $1.87B last year
Trading vol est: $137B (less than half of last year)
Spot trading is dead weight. Real alpha is in the mix:
→ Subscription rev
→ $USDC income streams
→ Derivatives growth
But let's be real — Coinbase is still a slave to crypto market activity. Tonight's numbers will show if they've actually diversified or if they're just riding hopium.
Watch the call. Guidance matters more than the print.
