Coinbase Reports $667M Q4 Loss Despite Trading Growth

Coinbase, the popular crypto exchange, has witnessed a challenging Q4 in 2025. In this respect, Coinbase has missed its Q4 expectations with a cumulative loss of nearly $667M. As per the data from TOP 7 ICO, the crypto exchange faced a 20% decline in revenue to hit $1.8B. Nonetheless, the firm has underscored massive growth when it comes to the other areas, reinforcing a solid long-term outlook.

Coinbase’s 20% Q4 Revenue Dip Highlights Market Challenges

With a considerable Q4 loss, Coinbase has reportedly missed the revenue expectations. Particularly, over 2025’s fourth quarter, the crypto exchange has plunged 20% in revenue to reach $1.8B. A key factor behind this drop was the plunge in token prices, draining digital asset reading activity.

Even then, irrespective of the headline loss, the firm experienced expansion in the rest of the areas, signifying a resilient broader strategy. So, the market analysis highlights the crypto exchange’s continuous shift toward expanded and diversified revenue streams. Particularly, the analysis points out that Coinbase’s total trading volume jumped to $5.23T in Q4.

Overall Trajection Stands Resilient Amid Institutional Partnerships and Trading Expansion

This figure is far above 2024’s $2.04 and 2023’s $522B. Additionally, the market share of the crypto exchange also doubled year-over-year, surging from just 3.2% back in 2024 to the staggering 6.4%. Therefore, Coinbase is reportedly capturing a broader slice of worldwide cryptocurrency trading.

According to TOP 7 ICO, the revenue from services and subscriptions also climbed to $2.83B, suggesting more than double the levels of 2023. At the same time, operational developments further display Coinbase’s continuous expansion. In this respect, the platform’s assets tripled over 3 years, with over 20M accessible through its decentralized exchange. Overall, although the revenue missed the expectations, its overall trajectory remains strong, with institutional partnerships, wallet services, and subscriptions playing a critical role.