{"schema_version":"secwatch.filing_event.v1","accession":"0001679788-25-000153","form_type":"8-K","ticker":"COIN","cik":"0001679788","company_name":"Coinbase Global, Inc.","filed_at":"2025-07-31T23:59:59+00:00","discovered_at":"2026-05-14T18:02:44.619874+00:00","generated_at":"2026-05-17T22:22:14.846886+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Coinbase Q2 revenue $1.5B, adj. EBITDA $512M; Q3 July transaction revenue ~$360M","bullets":["Total revenue $1.5B, down 26% QoQ; transaction revenue $764M (-39% QoQ); subscription & services $656M (-6% QoQ).","Net income $1.4B includes $1.5B unrealized gain on Circle and $362M crypto gains; adjusted net income $33M.","Data theft incident in May drove $307M in other operating expenses; total operating expenses up 15% QoQ to $1.5B.","Q3 outlook: July transaction revenue ~$360M; subscription & services $665-$745M; tech/G&A $800-$850M.","USDC average balances in Coinbase products up 13% QoQ to $13.8B; stablecoin revenue $332M (+12% QoQ)."],"urls":{"canonical":"https://secwatch.observer/filing/0001679788-25-000153","json":"https://secwatch.observer/filing/0001679788-25-000153.json","markdown":"https://secwatch.observer/filing/0001679788-25-000153.md","text":"https://secwatch.observer/filing/0001679788-25-000153.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1679788/000167978825000153/0001679788-25-000153-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1679788/000167978825000153/coin-20250731.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T22:22:14.846886+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}