How Coinbase Makes Money (2026)
Coinbase makes money mainly from Net revenue. Its FY2025 total revenue was $7,181 million ($7.2 billion), with Net revenue the biggest disclosed revenue line at $6,883 million ($6.9 billion) and 95.9% of total revenue (computed from the 10-K FY2025). Coinbase earns transaction fees when customers buy, sell, and trade crypto assets.
Last checked 2026-10-18 on the official pages.
Revenue breakdown
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| Net revenue | $6,883 million ($6.9 billion) | 95.9% | 10-K FY2025 ↗ |
| Other revenue | $298 million | 4.1% | 10-K FY2025 ↗ |
| Total revenue | $7,181 million ($7.2 billion) | — | 10-K FY2025 ↗ |
The hidden model
Coinbase earns transaction fees when customers buy, sell, and trade crypto assets.
Coinbase earns transaction fees when customers buy, sell, and trade crypto assets. verified
We generate a large portion of our total revenue from transaction fees on our platform in connection with the purchase, sale, and trading of crypto assets by our customers.
Business models
Brokerage and transaction fees · Subscription
Related companies
- Adobe · Software
- Apple · Technology
- Dropbox · Cloud software
- Duolingo · Education software
- Intuit · Software
- LinkedIn · Professional networking
Business model comparisons
Filter revenue mixes in the explorer
We are not collecting emails yet. Nothing you type here is sent anywhere. This is a placeholder for the future weekly newsletter.
Frequently asked questions
How does Coinbase make money?
Coinbase makes money mainly from Net revenue. Its FY2025 total revenue was $7,181 million ($7.2 billion), with Net revenue the biggest disclosed revenue line at $6,883 million ($6.9 billion) and 95.9% of total revenue (computed from the 10-K FY2025). Coinbase earns transaction fees when customers buy, sell, and trade crypto assets.
What is Coinbase’s business model?
Coinbase’s business model is Brokerage and Transaction Fees and Subscription. Facilitate transactions in securities or digital assets and earn commissions, execution-related payments, or trading fees. Related custody, lending, and subscriptions can add revenue. Coinbase earns transaction fees when customers buy, sell, and trade crypto assets.
What is Coinbase’s hidden model?
Coinbase earns transaction fees when customers buy, sell, and trade crypto assets.