Catenaa, Friday, August 08, 2025-Coinbase this week disclosed it acquired 2,509 bitcoin in the second quarter for roughly $222 million, pushing its total holdings to 11,776 BTC and returning the company to the top 10 public bitcoin treasuries.
The holdings are now valued at about $1.3 billion, giving the crypto exchange roughly $614 million in paper gains.
CEO Brian Armstrong said the company continues to increase its bitcoin position, surpassing Tesla, which holds 11,509 BTC.
According to Bitcoin Treasuries data, Coinbase now ranks alongside firms such as Strategy, MARA, Trump Media, and Metaplanet in the top tier of corporate holders.
The disclosure accompanied Coinbase’s second-quarter earnings report, which showed a $307 million loss tied to a data breach involving offshore customer service staff. Trading volumes and revenue fell sharply, with spot volumes down 30% to $237 billion and transaction revenue sliding 39% from the prior quarter.
Despite the slump in core trading activity, net income surged to $1.43 billion, up from $66 million, buoyed by ETF custody operations and revenue from its Ethereum Layer 2 network, Base.
The company also unveiled plans to become an “everything exchange” in the U.S., offering tokenized stocks, prediction markets, and onchain token sales in the coming months.
