New York, February 13, 2026, 04:55 EST — Premarket
Coinbase Global climbed 6.1% to $149.69 in premarket action Friday, recovering part of Thursday’s 7.9% drop that left shares at $141.09.
That shift carries weight: Coinbase remains among the cleanest proxies for crypto sentiment, but it’s also pressing to curb reliance on core trading fees. “The Everything Exchange is working,” CEO Brian Armstrong said, as CFO Alesia Haas highlighted efforts to broaden revenues by pushing new products outside of spot crypto. Coinbase Investor Relations
This quarter turned rough for digital assets. Bitcoin’s price has nearly been cut in half from its Oct. 6 high, and U.S. spot bitcoin ETFs have seen billions in outflows, according to Reuters. “It’s all about the company’s diversification and ‘shock absorbers’,” said David Bartosiak, stock strategist at Zacks Investment Research. He cited stablecoins—tokens that aim for steady value, usually pegged to the dollar—as a key factor. Reuters
Coinbase told shareholders it pulled in $1.78 billion in total revenue for the fourth quarter, but posted a net loss of $667 million. Adjusted net income, however, reached $178 million, and adjusted EBITDA — excluding certain non-cash and one-off costs — landed at $566 million. The company pointed to a $718 million loss on its crypto investment portfolio, “largely unrealized,” along with a $395 million hit from strategic investments, as key factors behind the net loss. Coinbase is projecting subscription and services revenue between $550 million and $630 million for the first quarter, and says it brought in around $420 million in transaction revenue through Feb. 10. SEC
CFO Haas, speaking on an analyst Q&A call, described Coinbase’s approach as “a weekly buy” of bitcoin, and referred to the company as “long-term HODLers”—crypto speak for those holding for the long run. About 95% of Coinbase’s crypto purchases, measured in dollars, have gone to bitcoin, Haas noted. She drew a line between the firm’s bitcoin accumulation and its stock buyback program, emphasizing these are “separate,” and pointed to an extra $2 billion in board-approved repurchases. MarketScreener
The stock is drawing attention following a short-lived issue on Thursday. According to Coinbase’s status page, a “Site Performance – Transactions” incident was logged and then marked resolved just over an hour later, after users had trouble with transactions. status.coinbase.com
Crypto prices saw a mixed open Friday. Bitcoin slipped roughly 0.9% to $66,902; ether dropped around 1% to $1,960. These shifts tend to ripple through exchange trading volumes fast.
Not every analyst is leaning positive. Monness Crespi Hardt & Co has taken Coinbase down to a “sell” from “buy” and slashed its price target to $120, down sharply from $375, according to MT Newswires. MarketScreener
Still, that early jump doesn’t always stick. Sluggish crypto prices and light volatility could drag fee revenue back down. Another stumble on the platform, right now, would challenge user confidence just when it matters most.
The focus shifts to the U.S. consumer price index for January, landing at 8:30 a.m. ET—a data drop known for shaking up rates and risk assets. Economists, according to Reuters, are penciling in a 0.3% bump for the month and a 2.5% annual gain.
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