Coinbase Results Overshadowed By Brian Armstrong Stunt

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He said:“I was a little distracted because I was tracking the prediction market about what Coinbase will say on their next earnings call. I just want to add here the words Bitcoin, Ethereum, blockchain, staking and Web3 — to make sure we get those in before the end of the call.”Bets had been placed on what would be mentioned across Polymarket and Kalshi, with tens of thousands of dollars staked. Thanks to Armstrong, anyone who voted “yes” would have made a tidy profit.This kind of exposes one of the biggest problems with Polymarket: if someone in a position of power realizes that wagers are being taken on their actions, it could change their behavior. (It’s important to stress that there’s no suggestion of insider trading here — and it’s doubtful that Armstrong has cashed in from this stunt.)While some saw the funny side, describing the entrepreneur as a “legend,” others have openly wondered whether this amounts to market manipulation. Cinneamhain Ventures partner Adam Cochran wasn’t amused either, writing:“If I were the CEO of an exchange with CFTC-regulated products, I would simply not purposefully manipulate the outcome states of prediction markets on other CFTC-regulated exchanges during an earnings call… and then post about it on Twitter.”Let’s get back to the main event itself: Coinbase’s results for the third quarter of 2025. Net income in the three months to the end of September stood at a healthy $432.6 million — far beyond the $75.5 million over the same period in 2024. That’s the equivalent of $1.50 a share, far beyond the $1.10 anticipated by some analysts.Revenue was also greater than expected at $1.8 billion, with $1 billion of this linked to transactions as trading volumes spiked — with users returning to the exchange to capitalize on Bitcoin and Ether hitting new record highs.In a letter to shareholders, Coinbase revealed that it continues to increase the number of cryptocurrencies that can be bought and sold through its platform — meaning it now represents 90% of the industry’s total market capitalization.On that ever-so-controversial earnings call, Armstrong declared it was a “great quarter” — and Coinbase’s core business is “incredibly strong.” He also stressed that the exchange held up well when the markets crashed back on October 10, with billions of dollars in liquidations as Binance suffered technical difficulties.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,824.49 +2.15 (+0.03%)Dow 3047,434.87 -87.25 (-0.18%)Nasdaq23,668.30 +87.16 (+0.37%)Russell 20002,463.31 -2.64 (-0.11%)VIX17.84 +0.93 (+5.51%)Gold3,996.30 -19.60 (-0.49%)PortfolioSign in to access your portfolioSign inTop gainersBHF Brighthouse Financial, Inc. 57.52 +11.83 (+25.89%)ILMN Illumina, Inc. 121.01 +21.99 (+22.21%)TWLO Twilio Inc. 132.64 +19.77 (+17.52%)ATEC Alphatec Holdings, Inc. 19.18 +2.85 (+17.45%)SPXC SPX Technologies, Inc. 232.18 +33.33 (+16.76%)Top losersATGE Adtalem Global Education Inc. 99.06 -42.71 (-30.13%)SPSC SPS Commerce, Inc. 80.59 -23.31 (-22.43%)ABR Arbor Realty Trust, Inc. 9.76 -1.79 (-15.50%)TBBK The Bancorp, Inc. 65.45 -11.75 (-15.23%)DXCM DexCom, Inc. 59.01 -9.19 (-13.47%)Most activeAMZN Amazon.com, Inc. 245.87 +23.01 (+10.32%)NVDA NVIDIA Corporation 202.78 -0.03 (-0.01%)OPEN Opendoor Technologies Inc. 7.76 +0.41 (+5.65%)NOK Nokia Oyj 6.82 -0.32 (-4.42%)PFE Pfizer Inc. 24.56 +0.27 (+1.13%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersAMZN Amazon.com, Inc. 246.12 +23.26 (+10.44%)HKD AMTD Digital Inc. 3.6700 +1.9800 (+117.16%)NFLX Netflix, Inc. 1,124.90 +35.90 (+3.30%)QS QuantumScape Corporation 17.47 +1.68 (+10.66%)MRVL Marvell Technology, Inc. 92.35 +3.78 (+4.27%)Top economic events