Amid the drastic decline in cryptocurrency prices, many analysts and investors remain optimistic. One of them is Brian Armstrong, CEO of Coinbase.
On February 12, Coinbase released its shareholder letter for the fourth quarter of 2025. During this period, Coinbase reported a loss of $666.7 million, or $2.49 per share. This is a sharp decline from $4.68 per share in the fourth quarter of 2024.
Coinbase's revenue in the fourth quarter reached $1.78 billion, down 21.6% compared to revenue in the previous year.
However, Coinbase co-founder and CEO Brian Armstrong is not panicking. “We've been through these cycles many times at Coinbase. Adoption is continuing to grow, regulatory clarity is on the horizon and I'm more bullish than ever,” Armstrong said in an earnings call last Thursday, as reported by MSN.
Meanwhile, when asked about the potential for a crypto winter, Armstrong replied that Coinbase never tried to predict the future too much. In fact, he enjoyed sluggish market conditions.
“I will say that I kind of enjoy these periods sometimes when the market is down, ironically because it allows us to keep building.”
Coinbase is developing a diversification strategy to become an Everything Exchange. Since the launch of this strategy in the second quarter of 2024, Coinbase has become a platform that provides crypto trading, equities, prediction markets, and various other products.
Armstrong mentioned the progress of the Everything Exchange in last Thursday's earnings call. Since the launch of the Everything Exchange, Coinbase has 12 products that are predicted to generate $100 million in annual revenue.
Analysts at financial services and investment banking firm William Blair also expressed optimism about Coinbase.
“Coinbase has competition, but given product growth, we argue Coinbase is in a better position during this crypto bear market compared with past cycles.”
Coinbase is one of the largest crypto exchanges in the current crypto market. Learn about various crypto exchange options and their advantages and disadvantages in the article 7 Best Crypto Exchanges in 2025 for Easy and Secure Trading.
