secwatch.observer — SEC 8-K summary
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Issuer:     Coinbase Global, Inc. (COIN)
CIK:        0001679788
Form:       8-K
Filed at:   2025-05-08T23:59:59+00:00
Accession:  0001679788-25-000088
Event type: earnings
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coinbase reports Q1 revenue $2.0B, net income $66M; acquires Deribit for ~$2.9B
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- Q1 total revenue $2.0B (down 10% Q/Q), net income $66M, adjusted EBITDA $930M, adjusted net income $527M.
- Acquiring Deribit for ~$2.9B ($700M cash + 11M shares); close expected by year-end pending regulatory approvals.
- Subscription & services revenue $698M (+9% Q/Q) driven by stablecoin revenue $298M; USDC avg. balances $12.3B.
- Q2 outlook: April transaction revenue ~$240M; subscription & services revenue forecast $600-680M.
- Ended Q1 with $9.9B USD resources; spot trading volume $393.1B, global derivatives volume $803.6B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1679788/000167978825000088/0001679788-25-000088-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1679788/000167978825000088/coin-20250508.htm
  HTML page:      https://secwatch.observer/filing/0001679788-25-000088

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer