Coinbase Global Conference: CFO Haas touts “Everything Exchange” push amid volatility, regulation talks

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• We're going to tokenize everything and over time the technology will become chain native and largely invisible to users

  80% confidence

• Most Coinbase retail customers hold assets during large declines while active users buy the dip

  80% confidence

• The market is in a fragmentation era for both protocols and stablecoins, with long-term winners driven by network effects, liquidity, and regulatory compliance

  80% confidence

• Deribit acquisition is a 1 + 1 equals 3 transaction with post-acquisition volume growth and improved institutional counterparty perception

  80% confidence

• Coinbase is seeing a shift from speculation to utility, with stablecoins as an example

  80% confidence

• Coinbase doubled derivatives trading volume year-over-year in both market share and total notional

  80% confidence

• Coinbase believes there is a win-win solution on stablecoin rewards and yield debate

  80% confidence

• Coinbase currently custodies over 12% of overall crypto market cap and more than twice the nearest competitor

  80% confidence

• Coinbase has won 80% of ETF custody so far

  80% confidence

• OCC charter would provide federal jurisdiction for Coinbase custody business and allow custodying more assets under one license

  80% confidence

• Coinbase One has grown to nearly 1 million paid subscribers

  80% confidence

• Coinbase had 30 meetings with SEC in the last year focused on rules around tokenized securities

  80% confidence

• Some support queues are 80%-90% handled by AI agents in consumer and compliance areas

  80% confidence

• Coinbase is seeking clear rules on asset classification and which regulator oversees which assets

  80% confidence

• Coinbase believes the industry can reach crypto market structure legislation this spring

  80% confidence

• Coinbase works with five G-SIBs and over 250 fintechs and corporates building on its developer toolkits

  80% confidence

• Coinbase commits to being EBITDA positive in all operating environments

  80% confidence

• Base platform is experiencing all-time high in transactions driven by agentic commerce and payments use cases

  80% confidence

• Coinbase bought $1.7 billion of stock through mid-February and board authorized additional $2 billion

  80% confidence

• Coinbase One credit card offers rewards of up to 4% Bitcoin on spending

  80% confidence

• Early engagement with equities trading rollout is encouraging, though too early to provide statistics

  80% confidence

• Current crypto volatility is different from prior downturns such as 2022 because price declines and volatility are really institutionally led

  80% confidence

• Coinbase closed 10 acquisitions last year with Deribit as the largest and Echo as second-largest

  80% confidence