Nik sits down for 10 minutes with Coinbase CFO Alesia Haas to talk about the company's 2025 performance and where they are headed.
Overview
- Coinbase is at inflection point, with strong Q2 performance including custody volumes and derivatives trading hitting all-time highs, and the USDC market cap exceeding $60 billion.
- Stablecoin revenue of $332 million in Q2 represents 12% growth quarter-over-quarter, driven by market cap expansion via Circle collaboration.
- GENIUS Act signed into law enables Coinbase to lead the $30 trillion B2B cross-border payments market, targeting financial revolution in the US.
- Payment APIs launched with Shopify; Coinbase business account product in development with a waitlist of thousands of businesses.
- Acquisition of Deribit for $2.9 billion positions Coinbase to enter the options trading market, capturing a significant share of global derivatives trading.
- Newly launched perpetual futures contracts have seen week-over-week volume doubling, aligning trading hours with crypto spot market.
- User base expanding beyond retail to include payment-focused users and institutional traders seeking hedging and leveraged exposure.
- New Base app in beta testing, alongside the launch of Coinbase One Basic service tier to enhance user offerings.
- USDC payments integration with Shopify completed, with additional partnerships on the horizon and increased service offerings planned.
- 10x intraday leverage available on newly introduced 24/7 futures products, enhancing trading capabilities for users.
