Coinbase Global, Inc. (NASDAQ: COIN) is closing out December with a clear message to investors: it doesn’t want to be “just” a crypto exchange anymore. On Monday, 22.12.2025, Coinbase stock traded higher as the company announced another strategic deal—this time aimed at accelerating its expansion into prediction markets, one of the fastest-growing (and most contested) new corners of retail trading. [1]
As of 19:27 UTC on Dec. 22, COIN was at $249.45, up $4.33 (+1.77%) on the day, after touching an intraday high of $254.61.
This move comes just days after Coinbase unveiled a broad “super app” strategy that blends crypto, stocks, derivatives, tokenization, AI-powered investing tools, and payments under one roof—an approach designed to increase engagement and diversify revenue away from the historically volatile crypto spot-trading cycle. [2]
Coinbase’s headline today: Buying The Clearing Company to deepen its prediction markets push
The biggest news driving COIN coverage on Dec. 22, 2025: Coinbase said it will buy prediction markets startup The Clearing Company, marking its 10th acquisition announced this year and reinforcing its push to broaden what customers can do inside the Coinbase app. The company said the deal is expected to close in January 2026, and it did not disclose terms. [3]
Coinbase’s own announcement frames the acquisition as a speed boost for building scaled, regulated event-contract trading, describing The Clearing Company as a team of “prediction market veterans” led by founder Toni Gemayel. [4]
Reuters added the strategic context Wall Street is focused on: prediction markets can be a high-engagement, high-frequency product that gives users more reasons to open the app beyond crypto—and could help Coinbase reduce dependence on increasingly competitive crypto trading. [5]
Why prediction markets matter to the COIN stock story
Prediction markets let users trade contracts linked to real-world outcomes—everything from elections and economic indicators to sports and culture—and they’ve surged into the mainstream since the 2024 U.S. election cycle. Supporters argue they can reflect collective expectations; critics argue they blur into gambling, drawing heightened regulatory attention. [6]
That regulatory tension is not theoretical. Coinbase’s prediction-market expansion comes during an active industry debate over whether event contracts fall solely under the Commodity Futures Trading Commission (CFTC) or whether state regulators can restrict them as a form of betting. [7]
The bigger catalyst: Coinbase’s “Everything Exchange” strategy is now live
Today’s acquisition plugs directly into Coinbase’s broader product direction, which it showcased on Dec. 17 in a sweeping rollout positioned as the future of finance “on Coinbase.”
In its “System Update” blog post, Coinbase said it is rolling out:
- Stock trading and prediction markets inside the main Coinbase app
- A simplified interface for trading futures and perpetuals (“perps”)
- Expanded access to onchain assets, including Solana ecosystem tokens via DEX integration
- “Primary token sales”
- Global availability of the Base App (an onchain “everything app”)
- General availability of Coinbase Business for eligible businesses [8]
Investopedia’s reporting adds a key investor takeaway: Coinbase’s CFO Alesia Haas said the company wants to become the “No. 1 financial app” within five years, underscoring that Coinbase is explicitly targeting a broader fintech/brokerage role rather than pure crypto exposure. [9]
InvestmentNews (citing Bloomberg) described the same strategic arc as Coinbase entering equities trading and prediction markets, with CEO Brian Armstrong saying the firm aims to be “the best place to trade every asset.” [10]
What’s in the “Everything Exchange” bundle—and why investors care
Coinbase is effectively pitching itself as a hybrid of crypto exchange + brokerage + derivatives platform + tokenization infrastructure + payments company. Here’s what that means for COIN bulls and bears right now:
1) Equities trading inside Coinbase
Coinbase and multiple media outlets say the company is rolling out stock (and ETF) trading to eligible users, explicitly targeting the “trade everything in one place” trend that has benefited platforms like Robinhood and Interactive Brokers. [11]
A particularly important detail for crypto-native users: Coinbase has emphasized using USD or USDC to buy stocks, aligning equities trading with its stablecoin rails. [12]
2) Prediction markets via regulated venues—and escalating competition
Coinbase says it began rolling out prediction markets “last week” and is now scaling the category with The Clearing Company acquisition. [13]
At the same time, competition is accelerating. Reuters reported on Dec. 22 that FanDuel and CME Group launched a prediction markets platform in five states, following other high-profile entrants like DraftKings—evidence that this category is rapidly becoming mainstream finance (and not just crypto). [14]
3) AI-powered investing tools and a “super app” approach
Investopedia reported Coinbase is rolling out an AI-powered advisor product as part of its push toward a one-stop financial app. [15]
Coinbase’s own product note describes “Coinbase Advisor” as a tool intended to turn user goals into portfolio recommendations inside the Coinbase app (with beta access rolling out). [16]
4) Base App: onchain social + trading + payments in one place
Coinbase says the Base App is now available in 140+ countries and combines social, trading, payments, app discovery, and earning—an attempt to create an engagement flywheel that’s less tied to crypto price spikes. [17]
5) Coinbase Business: a SMB onramp for crypto, payments, and eventually more assets
Coinbase says Coinbase Business is now available to eligible businesses in the U.S. and Singapore, positioning it as an all-in-one platform for payments, crypto treasury management, and USDC rewards—an enterprise angle that could complement consumer trading revenue. [18]
Legal and regulatory backdrop: A major risk factor for COIN’s new product lines
Coinbase’s pivot into event contracts/prediction markets is colliding with the U.S. patchwork of state rules.
On Dec. 19, Decrypt reported Coinbase filed federal lawsuits in Connecticut, Michigan, and Illinois, arguing that prediction markets fall under the CFTC’s exclusive jurisdiction, not state gaming boards. The report notes the lawsuits come ahead of Coinbase’s planned January 2026 launch of CFTC-regulated event contracts via Kalshi. [19]
Reuters likewise highlighted that event contracts face heightened regulatory uncertainty, with some states asserting authority by arguing they resemble betting—exactly the kind of overhang that can impact product timelines and market sentiment around COIN. [20]
Separately—but still relevant to the “regulation is strategy” narrative—Reuters reported Coinbase appointed former UK finance minister George Osborne to run its internal advisory council, as Coinbase seeks to expand policy influence beyond the U.S., including in the UK and EU. [21]
Coinbase’s own policy post describes Osborne as chairing an expanded “Global Advisory Council” mission to help shape regulatory standards for blockchain, stablecoins, and tokenization. [22]
Coinbase’s M&A spree: Why Wall Street keeps tracking it
Reuters called the Clearing Company purchase Coinbase’s 10th acquisition in 2025, and noted two major prior deals:
- A deal to buy crypto derivatives exchange Deribit for $2.9 billion (announced earlier in 2025)
- A deal for investment platform Echo for roughly $375 million [23]
Coinbase’s investor relations announcement says the Deribit acquisition has closed, highlighting Deribit’s July 2025 volume (over $185 billion) and open interest (about $60 billion), positioning Coinbase as a more comprehensive global derivatives platform. [24]
For COIN investors, the key question is whether Coinbase can translate these acquisitions into:
- More consistent revenue streams (beyond spot crypto cycles), and
- Higher customer “share of wallet” (the same user trading crypto, stocks, derivatives, and event contracts in one app)
Analyst forecasts for COIN: Bullish consensus, but a wide target range
Wall Street’s stance on Coinbase stock remains broadly constructive—but volatile.
Consensus price targets (what different trackers show)
- Benzinga reports a consensus price target around $377 (based on 29 analysts), with a high of $510 and a low of $230. [25]
- StockAnalysis shows a similar picture: average target about $378, median around $399, and the same $230–$510 range. [26]
- MarketBeat lists an average target around $383, implying roughly 50%+ upside from the ~$250 level (depending on the day’s price). [27]
These aren’t identical because each platform tracks slightly different analyst sets and update schedules—but directionally they agree: the Street expects meaningful upside if Coinbase executes and the crypto environment stabilizes.
Notable recent analyst moves and commentary
- Deutsche Bank initiated coverage with a Buy rating and a $340 target, citing the “everything exchange” strategy as expanding addressable markets and diversifying products. [28]
- Cantor Fitzgerald cut its target (reported in market commentary and analysis coverage) while maintaining a bullish stance, reflecting near-term caution even as Coinbase broadens its product lineup. [29]
- BTIG reiterated a Buy rating with a $420 target after the product showcase, describing the rollout as “years of product R&D” coming together. [30]
Investopedia also reported that, among analysts tracked by Visible Alpha, the average target was in the high-$300s and ratings skewed bullish/neutral rather than bearish. [31]
Earnings and fundamentals: What COIN investors are watching next
While December’s headlines are product- and strategy-heavy, the next major “hard catalyst” is earnings.
MarketBeat summarizes Coinbase’s Q3 2025 results as:
- EPS: $1.44 (above an estimated $1.04)
- Revenue: $1.87B, up year-over-year and above expectations [32]
MarketBeat also lists Coinbase’s next earnings date as estimated Feb. 12, 2026 (not yet confirmed by the company), based on past reporting patterns. [33]
One reason this matters: some analysts are explicitly linking recent target cuts and “mixed reaction” commentary to near-term crypto conditions and trading volumes—even as the long-term product strategy gets praise. [34]
The crypto tape still matters: Bitcoin steadies near $88K as COIN trades near $250
Even with the diversification story, Coinbase remains meaningfully correlated to crypto market activity—especially in the short run.
On Dec. 22, Bitcoin traded around $88,327, while Ethereum hovered near $2,988.
Those levels matter because crypto price direction often influences:
- Retail trading activity (and therefore transaction revenue)
- Institutional volumes and derivatives activity
- Sentiment and risk appetite for “crypto proxy” equities like COIN
Outlook for Coinbase stock: 3 scenarios investors are weighing into 2026
No one can map COIN’s path with certainty, but based on today’s news flow and analyst framing, investor debates cluster around three plausible scenarios:
Scenario A: The “Everything Exchange” works—and engagement broadens beyond crypto
If Coinbase successfully integrates stocks, event contracts, and AI-driven investing into a seamless experience, it could increase daily/weekly active usage and reduce reliance on crypto-only volume spikes. That’s the strategic premise analysts have highlighted around product diversification. [35]
Scenario B: Products launch, but regulatory friction slows adoption and monetization
Prediction markets and event contracts may face uneven state-by-state resistance. Coinbase is already litigating key points of jurisdiction, which could create delays, extra compliance costs, or narrower offerings. [36]
Scenario C: Crypto macro turns down again—and COIN trades like a high-beta proxy
Even with diversification, Coinbase stock can still be pressured if crypto enters a prolonged drawdown that reduces trading volumes and risk appetite. Some market analysis has explicitly warned that crypto volatility remains a near-term headwind even as Coinbase builds new ventures. [37]
Bottom line on 22.12.2025
Coinbase stock is trading higher today as the company doubles down on prediction markets by acquiring The Clearing Company—an acquisition that fits neatly into Coinbase’s aggressive pivot toward becoming a multi-asset “Everything Exchange.” [38]
For investors, the near-term COIN story is now a balancing act:
- Upside drivers: new products (stocks, event contracts, tokenization, AI), global distribution, derivatives scale, and broader fintech positioning [39]
- Key risks: regulatory uncertainty around event contracts, crypto-cycle sensitivity, and execution risk across a rapidly expanding roadmap [40]
References
1. www.reuters.com, 2. www.coinbase.com, 3. www.reuters.com, 4. www.coinbase.com, 5. www.reuters.com, 6. www.reuters.com, 7. www.reuters.com, 8. www.coinbase.com, 9. www.investopedia.com, 10. www.investmentnews.com, 11. www.reuters.com, 12. www.investmentnews.com, 13. www.coinbase.com, 14. www.reuters.com, 15. www.investopedia.com, 16. www.coinbase.com, 17. www.coinbase.com, 18. www.coinbase.com, 19. decrypt.co, 20. www.reuters.com, 21. www.reuters.com, 22. www.coinbase.com, 23. www.reuters.com, 24. investor.coinbase.com, 25. www.benzinga.com, 26. stockanalysis.com, 27. www.marketbeat.com, 28. www.investopedia.com, 29. www.investing.com, 30. www.investing.com, 31. www.investopedia.com, 32. www.marketbeat.com, 33. www.marketbeat.com, 34. www.investing.com, 35. www.reuters.com, 36. decrypt.co, 37. www.trefis.com, 38. www.reuters.com, 39. www.coinbase.com, 40. www.reuters.com
