Coinbase Reports $667M Q4 Net Loss

Coinbase reported a $667 million net loss in fourth-quarter 2025, ending an eight-quarter profit streak and missing analysts' EPS and revenue forecasts on Thursday. Net revenue fell 21.5% year‑over‑year to $1.78 billion, with transaction revenue down nearly 37% while subscription and services rose 13%. The results follow a sharp crypto market decline and prompted modest after-hours share gains.