Cryptonews - Coinbase (NASDAQ:COIN) announces reaching profitability of $1.5 billion for the second quarter of this year, which was lower than analysts' expectations of $1.59 billion.
Coinbase announced its acquisition of 2,509 Bitcoin (BTC) in the second quarter of 2025, with plans to increase its holdings of the currency. Additionally, the digital asset trading platform intends to launch a 'comprehensive platform' for U.S. users offering a diverse package of crypto services including digitally represented stocks.
The platform's CEO, Brian Armstrong, stated on his X platform account yesterday that the platform continues to buy more Bitcoin holdings, noting that 'Coinbase is optimistic about the long-term future of Bitcoin, so we increased our holdings by 2,509 BTC in Q2, and we will continue to buy more.'
Coinbase is long bitcoin.
Our holding increased by 2,509 BTC in Q2, and we keep buying more. pic.twitter.com/ztx10X2YXV
-- Brian Armstrong (@brian_armstrong) July 31, 2025
By adding 2,509 Bitcoin worth approximately $290 million in Q2, Coinbase entered the list of the top 10 publicly traded companies owning BTC balances, surpassing Tesla (NASDAQ:TSLA). However, the crypto trading giant announced disappointing results for Q2, leading to a decline of its stock price by more than 9% in after-hours trading.
According to the letter to Coinbase shareholders issued yesterday, the company's earnings for Q2 were $1.5 billion, which is lower than the $1.59 billion expected by analysts.
This comes against a strong performance from its competitor Robinhood, which announced revenues of $989 million, a 45% year-over-year increase surpassing analysts' expectations of $908 million.
Coinbase launches digitally represented stocks and betting markets in the United States.
In a separate announcement, Coinbase confirmed to CNBC its intention to launch new services in the United States over the coming months as part of its strategy to become the 'comprehensive platform', where Coinbase will offer digitally represented stock trading, prediction markets, derivatives contracts, and new crypto listings. In this context, the company announced that it will initially roll out its new offerings to U.S. users in the coming months.
Max Branzburg, Vice President of Products at Coinbase, told CNBC: 'We are working on creating a comprehensive platform for trading everything,' confirming that 'we are looking to gradually expand our offering to include other countries after obtaining necessary approvals,' and added, 'We aim to provide all assets on the blockchain from stocks to prediction markets and more as part of our efforts to establish a faster and more accessible economy that is also more global.'
This announcement comes hours after the U.S. Securities and Exchange Commission (SEC) launched its 'Crypto Mission', a comprehensive initiative aimed at 'updating' securities laws to include trading activities related to digital assets.
It is noted, finally, that alongside Coinbase, platforms like Robinhood, Kraken, and Gemini have recently provided services for trading digitally represented stocks, which are digital representations of stocks that can be traded on the blockchain.
The post Coinbase plans to increase its holdings of Bitcoin (BTC) and provide digitally represented stocks and betting markets within the United States appeared first on Cryptonews Arabic.
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