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Below is Dolphin Research's compiled Trans of $Coinbase(COIN.US) FY26 Q1 earnings call.

This week, the U.S. stock market can be said to have undergone a significant washout, falling nearly 300 points for three consecutive days. What truly dragged the market down was the Nasdaq. The S&P and Russell have already climbed back above their 20-day moving averages and are even hitting new highs, but the Nasdaq is clearly still underwater. This indicates that this sell-off wasn't targeting the broader market, but rather tech stocks, high valuations, and the most liquid assets. This wave of decline wasn't a loss of emotional control; it's more like the market is repricing one thing: what the new Fed Chair Walsh truly means. After Trump formally nominated him, Wall Street actually started taking it seriously...

Stocks, virtual assets, tokens, private equity, social... all need to be done

On November 6th, the American influencer retail brokerage stock $Robinhood(HOOD.US) released its earnings report before the U.S. stock market opened. After a nearly 300% surge over three quarters, the market's expectations were high. Can the actual results meet the capital market's enthusiastic expectations? Let's take a closer look: 1. Total revenue was $1.27 billion, up 100% year-on-year and 29% quarter-on-quarter; it slightly exceeded Bloomberg's consensus estimate of $1.21 billion. However, since the company had already announced impressive operational data for September on September 29th, the real buy-side expectations have been elevated since then...

The following are the minutes of the earnings call for $Coinbase(COIN.US) organized by Dolphin Research. For a review of the third-quarter financial report, please refer to "Coinbase: Short-term Recovery Within Expectations, Long-term Ecosystem Still Needs Accelerated Expansion." 1. Review of Core Financial Information: Overall Performance: The company achieved total revenue of approximately $1.9 billion in the third quarter of fiscal year 2025. Adjusted EBITDA was $801 million. The company recorded a fair value revaluation gain of $424 million on its crypto investment portfolio this quarter, with $381 million included in other expense items...

In the early morning of October 30th Beijing time, after the US stock market closed, $Coinbase(COIN.US) released its Q3 2025 financial report. Overall, the slight outperformance in trading revenue led to a noticeable recovery in overall revenue and profit. The cryptocurrency market saw some recovery quarter-on-quarter in Q3, and Coinbase completed the consolidation of Deribit and launched perpetual futures for cryptocurrencies, which increased the market share of derivatives trading in Q3. Additionally, during the earnings call, management's outlook on launching banking payment services in Germany further stimulated Coinbase's trading sentiment...