Coinbase (COIN): FY25 Q1 earnings call, May 8, 2025
On its May 8, 2025 earnings call (FY25 Q1), Coinbase said 13 of the 15 words Kalshi listed; Parrot’s count agreed with 14 of 15 settlements. Quotes below are at most 25 words each.
UpdatedMarkets
15 words · 13 settled yes · our count agreed on 14 of 15- Kalshi: company speakers
Kalshi
backtest The probabilities on settled rows are a walk-forward backtest: the model as of before each event, computed after Parrot went live; they were not published at the time.
| Word | Result | Our count | All speakers | Agrees | Probability | Market |
|---|---|---|---|---|---|---|
| Institution / Institutional | Yes | 18 | 20 | ✓ | 90%transcripts from the transcript model | – |
| Stablecoin | Yes | 16 | 17 | ✓ | 94%transcripts from the transcript model | – |
| International | Yes | 9 | 10 | ✓ | 85%transcripts from the transcript model | – |
| Regulator / Regulatory / Regulation | Yes | 8 | 9 | ✓ | 93%transcripts from the transcript model | – |
| Custodial / Custody | Yes | 8 | 8 | ✓ | 88%transcripts from the transcript model | – |
| Trading volume | Yes | 7 | 7 | ✓ | 91%transcripts from the transcript model | – |
| Bitcoin | Yes | 6 | 6 | ✓ | 86%transcripts from the transcript model | – |
| Margin | Yes | 4 | 4 | ✓ | 66%transcripts from the transcript model | – |
| Subscription | Yes | 3 | 3 | ✓ | 87%transcripts from the transcript model | – |
| SEC / Securities and Exchange Commission | Yes | 2 | 2 | ✓ | 87%transcripts from the transcript model | – |
| Blockchain | Yes | 2 | 2 | ✓ | 79%transcripts from the transcript model | – |
| Staking / Stake | Yes | 1 | 1 | ✓ | 81%transcripts from the transcript model | – |
| Decentralized Exchange / DEX | Yes | 0 | 0 | ✗ | 55%transcripts from the transcript model | – |
| Web3 | No | 0 | 0 | ✓ | 44%transcripts from the transcript model | – |
| Crypto winter | No | 0 | 0 | ✓ | 15%transcripts from the transcript model | – |
Market prices are mid quotes from Kalshi and Polymarket, shown for context, may be delayed by several minutes and are not a signal. Quotes as of Oct 20, 2026 15:46 UTC.
Transcript
quotes of at most 25 wordsSpeaker-labelled transcript · Source and credits · Used to count words; quotes of at most 25 words.
7 matches for “Trading Volume”; 5 quoted, at least 25 words apart.
…in spot and derivatives. We drove over $800 billion in global derivatives trading volume. While still early, this is a significant market share increase driven…
…exchange with over $30 billion of open interest and $1 trillion in trading volume outside the U.S. last year. This makes Coinbase the number one…
…trading was down 13% with Coinbase outperforming at down 10%. Our consumer trading volume was $78 billion, down 17%. Consumer transaction revenue declined 19%, and…
…We believe that this allows us to, one, command greater share of trading volume from shared institutional customers; two, provide greater capital efficiency to clients,…
…is a cross-selling opportunity. And this is -- improves the efficiency but also improves trading volume if they can do that all in one platform.
Where the listed words were said
…all the products we build across multiple customer groups, including regional businesses, institutions and developers, and serving these multiple customer groups has the potential to…
…strides across our stretch goal to make USDC the number one dollar stablecoin as well. In fact, USDC hit a market cap all time high…
…This was also largely driven by USDC. Next up, we accelerated our international expansion for our core businesses. We continued to repeat our successful international…
…against Coinbase also marked a major judicial win for the balanced innovation-friendly regulation that we've been advocating for. It's really -- that was a really…
…stablecoin pay ins and payouts. Given Coinbase’s long history building crypto infrastructure, custody, trading and our network of bank partners around the world, we think…
…us as the trusted counterparty by adding more products to trade in the store, they'll move more and more of the trading volume to us.
…borrowing. This is giving users instant liquidity without having to sell their Bitcoin. In the first one hundred days, we saw over $100 million in…
…and Coinbase products. And so we have about $26 million in net margin in USDC revenue on products in our platform. And then full margin,…
…makers and liquidity providers, which tend to have lower fee rates. Our subscription and services revenue grew 9%, and we saw an all-time high of…
…factors that could cause these results to differ is included in our SEC filings. Our discussion today will also include certain non-GAAP financial measures. Reconciliations…
…in Q2 compared to their Q1 averages. These price declines impact our blockchain rewards and other subscription and services revenue lines. We expect technology and…
…the transaction processing and handling the scale of it, making that timely staking rewards, et cetera, etcetera. So these are all hard problems to solve…
Agents: this page as TSV at /api/v1/appearances/coinbase:2025-05-08:earnings_call · words: /api/v1/brief?appearance=coinbase:2025-05-08:earnings_call · columnar JSON in #parrot-data · llms.txt · MCP