The cryptocurrency exchange Coinbase has released its financial results for the second quarter of 2025. During the reporting period, the company generated revenue of $1.5 billion, with a net profit of $1.4 billion. However, a significant portion of the report focuses on the consequences of a large-scale hacker attack, which resulted in the company incurring losses of $307 million.
This is reported by Finway
Details of the Hacker Attack and Financial Performance
The financial report notes that the data breach incident occurred after criminals bribed support staff outside the United States. This allowed them to gain access to users’ personal data and account management documents. The attack was first reported in May, but the new report clarifies that the actual losses amount to $307 million, although earlier estimates had put the losses at $400 million.
“The incident occurred after criminals bribed support staff outside the United States. This allowed them to gain access to user data and account management documents.”
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to $512 million, while adjusted net profit was $33 million. Subscription and service revenues reached $656 million. The company also holds $9.3 billion in dollar resources.
Growth in Business Segments and Technological Achievements
In the report, Coinbase highlights the successes of the Base Chain ecosystem: the waiting list for the Base App has over 700,000 registered users. The average fee on the network has been reduced to $0.0005, and the block time has been shortened to 200 milliseconds. USDC payments through Base are integrated with Shopify Payments.
The stablecoin segment also shows steady growth: for the quarter, revenue reached $332 million, and the average amount held in USDC across Coinbase products reached $13.8 billion.
The institutional segment continues to strengthen its position: over $245 billion in assets are under the exchange’s management. More than 80% of the assets in Bitcoin and Ethereum ETFs in the U.S. are held on Coinbase.
It is worth noting that the company has expanded its offerings in the derivatives market by launching 24/7 futures trading for Bitcoin, Ethereum, Solana, and XRP. Additionally, it has announced the acquisition of Deribit, a leading crypto options exchange.