Coinbase (COIN): FY25 Q3 earnings call, Oct 30, 2025
On its Oct 30, 2025 earnings call (FY25 Q3), Coinbase said 16 of the 18 words Kalshi and Polymarket listed; Parrot’s count agreed with all 18 settlements. Quotes below are at most 25 words each.
UpdatedMarkets
18 words · 16 settled yes · our count agreed on 18 of 18- Kalshi: company speakers + operator
Kalshi - Polymarket: anyone
Polymarket
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 | 14 | 15 | ✓ | 95%n=1+tx from settlement history blended with transcripts | – |
| Stablecoin | Yes | 11 | 12 | ✓ | 97%n=1+tx from settlement history blended with transcripts | – |
| Trading Volume | Yes | 9 | 9 | ✓ | 94%n=1+tx from settlement history blended with transcripts | – |
| Regulator / Regulatory / Regulation | Yes | 8 | 9 | ✓ | 95%n=1+tx from settlement history blended with transcripts | – |
| Decentralized Exchange / DEX | Yes | 5 | 5 | ✓ | 78%n=1+tx from settlement history blended with transcripts | – |
| Margin | Yes | 4 | 10 | ✓ | 82%n=1+tx from settlement history blended with transcripts | – |
| Prediction Market | Yes | 4 | 4 | ✓ | 65%transcripts from the transcript model | – |
| Custodial / Custody | Yes | 2 | 2 | ✓ | 93%n=1+tx from settlement history blended with transcripts | – |
| Subscription | Yes | 2 | 2 | ✓ | 91%n=1+tx from settlement history blended with transcripts | – |
| International | Yes | 2 | 2 | ✓ | 85%n=1+tx from settlement history blended with transcripts | – |
| Bitcoin | Yes | 1 | 1 | ✓ | 91%n=1+tx from settlement history blended with transcripts | – |
| SEC / Securities and Exchange Commission | Yes | 1 | 1 | ✓ | 89%n=1+tx from settlement history blended with transcripts | – |
| Staking / Stake | Yes | 1 | 1 | ✓ | 86%n=1+tx from settlement history blended with transcripts | – |
| Blockchain | Yes | 1 | 3 | ✓ | 85%n=1+tx from settlement history blended with transcripts | – |
| Ethereum / ETH | Yes | 1 | 1 | ✓ | 82%transcripts from the transcript model | – |
| Web3 | Yes | 1 | 1 | ✓ | 17%n=1+tx from settlement history blended with transcripts | – |
| Shutdown / Shut Down | No | 0 | 0 | ✓ | 22%transcripts from the transcript model | – |
| Crypto Winter | No | 0 | 0 | ✓ | 13%n=1+tx from settlement history blended with transcripts | – |
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 21, 2026 04:22 UTC.
Transcript
quotes of at most 25 wordsSpeaker-labelled transcript · Source and credits · Used to count words; quotes of at most 25 words.
4 matches for “Prediction Market”; 4 quoted, at least 25 words apart.
…venue to trade spot crypto assets, derivatives and options, but also equities, prediction markets, commodities and more. In Q3, we executed on that vision by…
…improve product innovation and velocity and increase market share? How are you thinking about listing stocks in prediction markets given the success of others. Brian?
…to come on chain. And our customers are asking for this, too, prediction markets and tokenized stocks and every on-chain asset you can imagine. So…
…on that. I was a little distracted because I was tracking the prediction market about what Coinbase will say on their next earnings call. And…
Where the listed words were said
…billion in total derivatives volume in Q3, driven by stronger participation from institutions and advanced traders. Next, let's touch on how we're accelerating stablecoin adoption…
…other payment rail can match this. Adoption is already well underway as stablecoin market cap hit $300 billion driven by companies and financial institutions using…
…product. As a reminder, derivatives account for about 80% of all crypto trading volume. And in Q3, we were the first to launch CFTC-regulated 24/7…
…more than 2x as much as the largest competitor. In closing, with regulatory clarity accelerating, crypto rails are set to power more and more of…
…areas where I think we're best in class, like I mentioned, the DEX integrations where we went from 300 tradable assets to 40,000 tradable assets…
…where our customers really value the ability to get better leverage, better margin on their trading products. And so we think that, that is a…
…products, average loan balances across our institutional financing products and assets under custody. We ended the third quarter with $516 billion in assets on platform.…
…we expect October transaction revenue to be approximately $385 million. We expect subscription and services revenue to be in the range of $710 million to…
…more liquidity and just more solid sticky organic open interest growth in that platform, which has enabled more profitable growth for our international derivatives business.
…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…
Agents: this page as TSV at /api/v1/appearances/coinbase:2025-10-30:earnings_call · words: /api/v1/brief?appearance=coinbase:2025-10-30:earnings_call · columnar JSON in #parrot-data · llms.txt · MCP