COIN · Coinbase Global, Inc.

Coinbase reported key operational metrics for Q1 2026 highlighting its dominant position in crypto custody and trading. Assets on Platform reached $294 billion, the highest globally, reflecting 12 consecutive quarters of native unit inflows and three years of growth in market share relative to total crypto market capitalization. The company achieved #1 U.S. spot trading market share and gained global share in both spot and derivatives, reaching an all-time high despite a down market, driven by product innovation and derivatives growth. Total Trading Volume stood at $5.2 trillion TTM. Stablecoin leadership is evident with $19 billion average USDC held in Coinbase products, representing over 25% of USDC circulation at its $80 billion market cap peak in March, capturing ~50% of USDC economics through deeper integration. Subscription & Services comprised 44% of total net revenue, supported by 12 products each generating over $100 million annualized revenue. Q1 highlights include 169% YoY growth in Derivatives Trading Volume TTM and 90%+ USDC on Base share of onchain agentic commerce volume. Management emphasized priorities in exchange, stablecoins & payments, and onchain initiatives to enable global money movement and comprehensive asset class trading. A conference call was held on May 7, 2026, at 2:30 pm PT, with replay available on investor.coinbase.com. Forward-looking statements note risks including crypto volatility and regulatory changes, with details in recent 10-K and 10-Q filings.