Latest Quarter Financials
| Company | Revenue | Rev QoQ | Rev YoY | Gross % | Op % | Take Rate | AOP | MAU | EV/Rev | EV/EBITDA | 8Q Trend |
|---|---|---|---|---|---|---|---|---|---|---|---|
CoinbaseCOIN Benchmark Q4 2025 | $1.0B | -44.8% | -54.6% | 71.9% | -43.1% | — | — | — | — | — | |
RobinhoodHOOD Exchange Q4 2025 | $1.3B | +0.7% | +26.5% | 75.7% | 50.7% | — | — | — | — | — | |
KrakenKRKN ExchangeManual Q4 2025 | $625.0M | — | — | — | — | — | $48.5B | — | — | — | |
BullishBLSH Exchange | — | — | — | — | — | — | — | — | — | — | — |
GeminiGEMI Exchange | — | — | — | — | — | — | — | — | — | — | — |
Galaxy DigitalGLXY Exchange | — | — | — | — | — | — | — | — | — | — | — |
CircleCRCL Stablecoin | — | — | — | — | — | — | — | — | — | — | — |
eToroETOR Exchange | — | — | — | — | — | — | — | — | — | — | — |
BitGoBTGO Infra | — | — | — | — | — | — | — | — | — | — | — |
PayPalPYPL TradFi Q4 2025 | $8.7B | +3.1% | +3.7% | 46.5% | 17.4% | — | — | — | — | — | |
BlockSQ TradFi Q4 2025 | $6.3B | +2.2% | +3.6% | 45.9% | 7.8% | — | — | — | — | — | |
CME GroupCME TradFi | — | — | — | — | — | — | — | — | — | — | — |
Interactive BrokersIBKR TradFi | — | — | — | — | — | — | — | — | — | — | — |
FigureFIGR DeFi | — | — | — | — | — | — | — | — | — | — | — |
Awaiting Data
Circle (CRCL) went public in 2025. Chart will populate as quarterly data becomes available.
Coinbase earns a revenue-share on USDC reserves held by Circle. Rising interest rates increase Circle's reserve income and flow through to Coinbase's subscription/services revenue line.