The biggest financial shift of our lifetime is starting, and Coinbase was built for this moment.
Every asset on earth (stocks, bonds, commodities, real estate, etc) is going to move onchain. The hundred-trillion-dollar financial system is being updated, faster than the incumbents can react.
A handful of companies will own the rails for this new system. Coinbase is uniquely positioned to capitalize on this generational transformation.
We just released our latest earnings where we talk about our progress here. It was a tough market in Q2. Despite this, we continued to execute on the things in our control and build through the noise. Some highlights:
- We store the most crypto in the world, and are the leading stablecoin platform
- 90%+ of agentic stablecoin transaction volume was on Base
- New ATH in our crypto trading volume market share (10.3%)
- Revenue has significantly diversified beyond trading
- Prediction markets revenue more than doubled, +106% QoQ
I want to make this clear.
I’m much less worried about banks failing or deflation.
I’m worried about the reaction to the banks failing.
We have no idea how bad failures will be and therefore no idea how much stimulus they will require.
Printer incoming. #Bitcoin
Ok.
Bank runs of FRB, Circle, and contagion fears picking up in light of Silvergate and Silicon Valley banks going under.
Lots of rumors. Who knows what is true.
Fed has emergency meeting Monday.
I still think “cascade” doubtful, but this isn’t slowing yet.
We are 72 hrs in.
Do I think this murmur of "bank run" is the BIG one?
No.
I do think it just got more probable though.
Even if system hobbles along for years more, last 48 hrs is enough validation for me.
People that think banks can afford anything but EXPAND LIQUIDITY FOREVER are wrong. #BTC