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Markets
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
05/09/2026

Coinbase Bulls Focus on Stablecoins Despite Q1 Earnings Miss

What happened: Coinbase reported Q1 2026 revenue of $1.

Coinbase Bulls Focus on Stablecoins Despite Q1 Earnings Miss

What happened: Coinbase reported Q1 2026 revenue of $1.4 billion with adjusted EBITDA of $303 million, missing Street estimates of $408 million. Despite transaction revenue declining to $755.8 million versus $805.2 million expected, stablecoin revenue grew to $305 million with average USDC holdings hitting an all-time high of $19 billion.

Why it matters: Analysts from JPMorgan, Clear Street, and Oppenheimer remain bullish, shifting focus from volatile trading revenue to recurring stablecoin income and potential regulatory tailwinds. Chief Legal Officer Paul Grewal expects CLARITY Act passage by summer 2026, which could unlock derivatives and prediction market opportunities for the "Everything Exchange" strategy.

Source: CoinDesk