New York, February 16, 2026, 10:49 EST — The market is closed.
- Coinbase shares finished the last session up 16.5% at $164.32, bouncing hard after earnings.
- ARK Invest, Cathie Wood’s firm, picked up around $15 million worth of COIN shares spread over three ETFs, according to trade disclosures.
- Crypto prices stay in focus heading into Tuesday’s reopen, as investors brace for Fed minutes and fresh U.S. inflation data later this week.
Coinbase Global (COIN.O) surged 16.5% to finish Friday at $164.32, fueled by ARK Invest picking up roughly $15 million worth of the stock, trade disclosures from Cathie Wood’s firm show. U.S. equity markets remain shut Monday for Presidents Day. (TradingView)
With the holiday lull keeping equity traders out, crypto markets continue to churn beneath the surface. That disconnect sometimes leaves Coinbase facing a sharper catch-up move once regular trading resumes.
This shift is significant: Coinbase remains tightly linked to broader crypto risk, despite its efforts to broaden operations. Trading slows? Fee revenue takes a hit, and it happens quickly.
ARK’s recent buying moves the needle again. Large thematic funds like these often attract momentum traders during rallies, but the flows can just as fast reverse course if sentiment shifts.
Coinbase reported a quarterly loss of $666.7 million for the period ending Dec. 31, with transaction revenue dropping to roughly $983 million as a widespread digital-asset downturn sapped trading volumes. Subscription and services revenue picked up, climbing 13.5% to about $727 million, boosted in part by income from stablecoins. These digital tokens are meant to maintain a fixed value, typically tied to the U.S. dollar. “It’s all about the company’s diversification and ‘shock absorbers’,” said David Bartosiak, stock strategist at Zacks Investment Research. (Reuters)
Coinbase reported fourth-quarter total revenue of $1.8 billion in its shareholder letter, with a net loss of $667 million. Adjusted net income was $178 million, while adjusted EBITDA clocked in at $566 million. The company closed out 2025 holding $11.3 billion in cash and cash equivalents. Coinbase also bought back $1.7 billion of its Class A stock in the fourth quarter and up to Feb. 10. For the first quarter, transaction revenue stood at about $420 million through Feb. 10, and subscription and services revenue was projected between $550 million and $630 million. (Q4 Capital)
Brian Armstrong, the chief executive, told investors the company has “successfully diversified the business,” emphasizing that revenue now is “less correlated to crypto price fluctuations.” He highlighted stablecoins and subscriptions, and also called out newer offerings like equities trading and prediction markets—those contracts that pay out on real-world events—as key moves in its “Everything Exchange” strategy. (Q4 Capital)
Bitcoin slipped roughly 2.2% Monday, hovering near $67,400. Shares of Robinhood Markets (HOOD.O) jumped 6.8% in the previous session, while Strategy (MSTR.O) rallied 8.9%. The moves underscored how crypto-related names often move together when sentiment turns.
But the rebound is a double-edged sword. Should crypto prices fall further, trading volumes may drop off, and the stock could surrender those gains just as fast — particularly since Coinbase has cautioned investors against reading too much into early-quarter transaction revenue.
Regulation throws another wrench into the mix. Stablecoins are edging closer to the mainstream, yet the regulatory landscape for crypto trading—and for newer offerings like event contracts—remains unsettled, keeping uncertainty in play.
Traders on Tuesday will be eyeing whether Friday’s rally sticks, and if fresh macro data shifts sentiment. On deck: the Fed minutes due Wednesday, then U.S. core PCE inflation and GDP numbers landing Friday, according to S&P Global. (spglobal.com)
