Overview
- Coinbase, which reports Thursday after the close, is expected to post EPS of $0.06 on $1.49 billion in revenue with analysts projecting a net loss.
- FactSet points to first‑quarter trading volume of $222.9 billion, down from $271 billion in Q4 2025 and far below $393 billion in Q1 2025 as crypto activity cooled.
- The company disclosed a 14% workforce reduction earlier this week, citing tough market conditions and a push to streamline operations for the AI era.
- Stablecoin revenue tied to interest on USDC reserves is forecast to rise about 45% to roughly $327 million, offering a steadier line of income than retail trading fees.
- Lobbying in Washington over a major crypto bill remains unresolved, and the outcome could decide whether Coinbase can keep offering interest on stablecoin balances that now drive more of its revenue.