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Coinbase10-K: Recurring revenue shift

Coinbase manages over $22.7B in staked assets, shifting towards recurring revenue streams.

What happened

Managing $7.5B for consumers and $15.2B for institutions in staked assets creates immense security, monitoring, and reporting burdens.

Source

SEC EDGARFeb 12, 2026

Annual report (Form 10-K)

Coinbase 10-K for FY2025

Filing excerpt

As of December 31, 2025, approximately $7.5 billion worth of these assets were held on behalf of individual consumers staked through our platform, as measured in U.S. dollar equivalents.

sec.gov/Archives/edgar/data/1679788/000167978826000015/coin-20251231.htmRead the full source

Other signals in this filing (11)

Extracted by Autobound

From the Signal API record
Signal
10-K: Recurring revenue shift

What this signalsFilings often name leadership changes, deals and spending plans.

Period
FY2025
Fiscal year end
12/31
Filed
Feb 12, 2026

More 10-K signals at other companies

The full record

From the Signal API record

Numbers

Dollar figure
$22.7B (Total assets staked by consumer and institutional customers as of Dec 31, 2025)

Details

CIK
1679788
Accession number
0001679788-26-000015
Filing year
2026
Why it matters
Billing/subscription tools

Topics and mentions

Technologies

  • staking
  • validator nodes
  • Ethereum
  • Solana
  • Cardano
  • Avalanche
  • Cosmos
  • Polkadot

Extraction

Confidence
High
Relevance
90%
Sentiment
Positive
Detected
Feb 17, 2026
signal_type
sec-10k
signal_subtype
recurringRevenueShift

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The API returns more than this page shows

This page shows a preview. The full sec-10k record in the Signal API and MCP can also have these 8 fields. Some fields are empty for some signals.

Company

  • linkedin_urlValue in the API
  • industriesValue in the API
  • employee_count_lowValue in the API
  • employee_count_highValue in the API
  • revenueValue in the API
  • descriptionValue in the API

Signal

  • signal_nameValue in the API
  • associationValue in the API
Show the full JSONThe record on this page and the API request

GET /v1/signals/d1c6b66b-203a-4be3-b3af-67c57707ef0d returns this record as JSON. POST /v1/companies/enrich returns every signal for coinbase.com.

{
  "signal_id": "d1c6b66b-203a-4be3-b3af-67c57707ef0d",
  "signal_type": "sec-10k",
  "signal_subtype": "recurringRevenueShift",
  "detected_at": "2026-02-17T06:31:07.781+00:00",
  "company": {
    "name": "Coinbase",
    "domain": "coinbase.com"
  },
  "data": {
    "detail": "Managing $7.5B for consumers and $15.2B for institutions in staked assets creates immense security, monitoring, and reporting burdens. This scale necessitates highly resilient and secure infrastructure to manage validator nodes and protect billions in customer assets, creating opportunities for infrastructure and security vendors.",
    "metrics": {
      "dollar_context": "Total assets staked by consumer and institutional customers as of Dec 31, 2025",
      "dollar_millions": 22700
    },
    "summary": "Coinbase manages over $22.7B in staked assets, shifting towards recurring revenue streams.",
    "excerpts": "As of December 31, 2025, approximately $7.5 billion worth of these assets were held on behalf of individual consumers staked through our platform, as measured in U.S. dollar equivalents.",
    "relevance": 0.9,
    "sentiment": "positive",
    "confidence": "high",
    "source_url": "https://www.sec.gov/Archives/edgar/data/1679788/000167978826000015/coin-20251231.htm",
    "filing_date": "2026-02-12",
    "filing_year": 2026,
    "fiscal_year_end": "12/31",
    "sales_relevance": "Billing/subscription tools",
    "signal_category": "revenue",
    "technologies_mentioned": [
      "staking",
      "validator nodes",
      "Ethereum",
      "Solana",
      "Cardano",
      "Avalanche",
      "Cosmos",
      "Polkadot"
    ]
  }
}

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