Coinbase (COIN): FY25 Q4 earnings call, Feb 12, 2026
On its Feb 12, 2026 earnings call (FY25 Q4), Coinbase said 13 of the 15 words Kalshi and Polymarket listed; Parrot’s count agreed with all 15 settlements. Quotes below are at most 25 words each.
UpdatedMarkets
15 words · 13 settled yes · our count agreed on 15 of 15- 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 |
|---|---|---|---|---|---|---|
| Stablecoin | Yes | 34 | 34 | ✓ | 97%n=2+tx from settlement history blended with transcripts | – |
| Subscription | Yes | 10 | 10 | ✓ | 92%n=2+tx from settlement history blended with transcripts | – |
| Bitcoin | Yes | 6 | 6 | ✓ | 93%n=2+tx from settlement history blended with transcripts | – |
| Ethereum / ETH | Yes | 5 | 5 | ✓ | 86%n=1+tx from settlement history blended with transcripts | – |
| Regulator / Regulatory / Regulation | Yes | 4 | 4 | ✓ | 95%n=2+tx from settlement history blended with transcripts | – |
| Custodial / Custody | Yes | 3 | 3 | ✓ | 94%n=2+tx from settlement history blended with transcripts | – |
| Regulator / Regulatory | Yes | 3 | 3 | ✓ | 94%transcripts from the transcript model | – |
| Staking / Stake | Yes | 3 | 3 | ✓ | 90%n=2+tx from settlement history blended with transcripts | – |
| SEC / Securities and Exchange Commission | Yes | 2 | 2 | ✓ | 91%n=2+tx from settlement history blended with transcripts | – |
| Institution / Institutional | Yes | 1 | 1 | ✓ | 96%n=2+tx from settlement history blended with transcripts | – |
| International | Yes | 1 | 1 | ✓ | 90%n=2+tx from settlement history blended with transcripts | – |
| Margin | Yes | 1 | 1 | ✓ | 87%n=2+tx from settlement history blended with transcripts | – |
| Decentralized Exchange / DEX | Yes | 1 | 1 | ✓ | 86%n=2+tx from settlement history blended with transcripts | – |
| Blockchain | No | 0 | 0 | ✓ | 88%n=2+tx from settlement history blended with transcripts | – |
| Web3 | No | 0 | 0 | ✓ | 41%n=2+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.
7 matches for “Trading Volume”; 5 quoted, at least 25 words apart.
…Everything Exchange in Q4 and are seeing early signs of success. Global trading volume and market share doubled year-over-year, reaching new all-time highs. Just last…
…into them. So that's the first reason. Number two, we've doubled our trading volume and market share year-over-year. We started off as the leader in…
…cap was down 11% quarter-over-quarter. However, we outperformed the market on total trading volume, driven by strong derivatives volume growth. Deribit saw another all-time high…
…remain undefected. This was a result of a technical issue, unrelated to trading volume, unrelated to any market conditions. The issue is now resolved. We've…
…mix shift with more volume going to our advanced product and more trading volume coming from Coinbase One users. So as we grow our Coinbase…
Where the listed words were said
…and Base set a new transaction all-time high with AI agents adopting stablecoin wallets. Base is quickly establishing itself as the onchain home for AI.…
…We now have 12 products doing over $100 million in annualized revenue. Subscription and services revenue hit all-time highs, up 5.5x from the peak in…
[Audio Gap] crypto prices, but Bitcoin remains the best-performing asset class of the past decade. We've been through cycles like this many times at Coinbase…
…of use cases. So it's -- our goal is to help it be really like the primary utility layer for crypto, all built on Ethereum.
…et cetera. What's Coinbase's view on the Base L2 value prop going forward in this respect? And how might potential DeFi regulations shape Base's future?
…and this is the broad term that we use for DeFi, self custodial wallets and full adoption of decentralized technology as opposed to centralized intermediaries.…
…this industry -- repatriate those reserves and bring it within the U.S. regulatory perimeter, they're going to have to be competitive and paying rewards is…
…average crypto price environment we are in, lower interest rates and lower staking protocol rewards rates compared to the fourth quarter. On the expense side,…
…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…
…the most trusted brand in crypto, and we work with thousands of institutions, including 5 G-SIB banks and 150 government agencies. Just as one example,…
…in 2026. We have good momentum both across the U.S. and our international markets. We have momentum coming from the integration of options into our…
…been able to offer. So for example, we were early to offer DEX trading, which now allows us to have millions of crypto assets available…
Agents: this page as TSV at /api/v1/appearances/coinbase:2026-02-12:earnings_call · words: /api/v1/brief?appearance=coinbase:2026-02-12:earnings_call · columnar JSON in #parrot-data · llms.txt · MCP