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 immediately. 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 yr.
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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, in opposition to the estimated $1.8 billion.
Later within the day, senior Coinbase executives and traders gathered for the earnings call that went viral inside hours after Armstrong dropped 5 iconic phrases towards the tip.
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 somewhat 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, , add right here the phrases “Bitcoin,” “Ethereum,” “Blockchain,” “Staking” and “Web3″ to ensure we get these in earlier than the tip of the decision.”
The second shortly went viral on X. “What a wild time to be alive,” said a Kalshi consumer, @0xTyrael. Armstrong responded that it was a spontaneous second after a workforce member dropped a hyperlink within the chat.
Crypto entrepreneur Anthony Pompliano called Armstrong a “legend” for dropping phrases folks 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 mentioned that over the course of 2025, it has made a major funding in headcount to capitalize on totally different alternatives and speed up the imaginative and prescient of the Every part Trade.
Armstrong mentioned the Every part Trade is “actually central to the following chapter of what we’re constructing.” He mentioned the corporate will share extra particulars at its product showcase on Dec. 17.
“And I’d say that Every part Trade is mostly a good complement to all the opposite options that we’ve constructed into Coinbase together with DeFi borrow lend, USDC, world funds, Coinbase Card – folks actually love that product – Base is having actually sturdy momentum. And so I feel these are all going to return collectively. Our aim long run is to be the primary monetary app, and that’s what we’re engaged on.”
Armstrong mentioned the vast majority of world funds will ultimately shift to stablecoins as a result of they will let you ship cash the world over in underneath one second for lower than $0.01.
“And no different fee rail can match this.”
Coverage developments just like the GENIUS Act will drive additional stablecoin adoption, he mentioned.
“In Q3, Coinbase prospects 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 mentioned world institutional funds are what Coinbase is focusing on.
“We’re constructing funds for companies. Coinbase companies account for small, medium-sized companies. We’re including numerous services and products in there round invoices and tips on how to pay contractors and distributors. Quite a 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 whole derivatives quantity throughout Q3.
Haas mentioned 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 expect that’s an enormous alternative for us.”
Coinbase recently acquired Echo, an onchain capital-raising platform. Armstrong mentioned Echo is a extremely progressive firm that they determined to accumulate.
“And we’re making an attempt to make it straightforward for anybody to boost cash. After which the great thing about combining it with Coinbase is that – now we have now over $500 billion of property.”
“The fourth quarter is off to a powerful begin,” mentioned Haas. She additionally laid out Coinbase expectations for October.
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Transaction income: $385 million
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Subscription and providers income: $710 million-$790 million
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Tech, improvement and G&A expense: $925 million-$975 million, pushed by acquisitions and headcount progress
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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 this point 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 Business News part. Add TheStreet as a Preferred Source by clicking here.
