Coinbase在2025年的Q4中因投资损失和贸易量下降而损失了667万美元,尽管现金流动和回购强劲,但预测却缺失。 Coinbase posted a $667M loss in Q4 2025 due to investment losses and falling trading volumes, missing forecasts despite strong cash flow and buybacks.

Coinbase报告了2025年Q4净损失6.67亿美元,这是2023年以来第一次出现亏损,因为其加密投资出现7.18亿美元的未实现亏损,交易量不断下降,因此没有达到预期值。 Coinbase reported a $667 million net loss for Q4 2025, its first since 2023, missing expectations due to a $718 million unrealized loss on its crypto investments and declining trading volumes. 17.8亿美元的收入低于估计数,交易收入比前一年下降37%。 Revenue of $1.78 billion fell short of estimates, with transaction revenue dropping 37% year-over-year. 尽管遭受了损失,但订阅和服务收入却增长了13%,达到7.27亿美元,稳定币的使用量也有所增加,美国货币余额达750亿美元。 Despite the loss, subscription and services revenue rose 13% to $727 million, and stablecoin usage grew, with USDC balances reaching $75 billion. 该公司保持强劲的现金状况,进行了17亿美元的股票回购,并报告了创记录的交易额和市场份额。 The company maintained a strong cash position, executed $1.7 billion in stock buybacks, and reported record trading volume and market share. 在更大的隐秘市场下跌和投资者对监管不确定性和首席执行官股票销售的担忧下,股票下跌了8%。 Shares dipped 8% amid broader crypto market declines and investor concerns over regulatory uncertainty and CEO stock sales.