Coinbase Swings to $667M Q4 Loss as Crypto Portfolio Markdowns Bite

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Coinbase posted a $667 million net loss in Q4 2025, marking its first loss since 2023. This loss was chiefly due to non-cash write-downs on crypto holdings and significant investments, significantly lower than analyst expectations and reversing a $1.3 billion profit from the previous year.
Coinbase reported a $667 million net loss for the fourth quarter of 2025, its first quarter in the red since 2023.
The loss, which was largely driven by non-cash write-downs on the company’s crypto holdings and strategic investments, landed far below analyst expectations and reversed a $1.3 billion profit from the same period last year.
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Coinbase Swings to $667M Q4 Loss as Crypto Portfolio Markdowns Bite

Share:
Coinbase posted a $667 million net loss in Q4 2025, marking its first loss since 2023. This loss was chiefly due to non-cash write-downs on crypto holdings and significant investments, significantly lower than analyst expectations and reversing a $1.3 billion profit from the previous year.
Coinbase reported a $667 million net loss for the fourth quarter of 2025, its first quarter in the red since 2023.
The loss, which was largely driven by non-cash write-downs on the company’s crypto holdings and strategic investments, landed far below analyst expectations and reversed a $1.3 billion profit from the same period last year.
Read More


