Coinbase Global, Inc.: management transactions · United States · SEC (Form 4)

About Coinbase Global, Inc.

Coinbase Global, Inc. is one of the leading publicly listed crypto-asset platforms in the United States. The company trades on the U.S. NASDAQ market under the ticker COIN, in the United States. Founded in 2012 by Brian Armstrong and Fred Ehrsam, Coinbase began as a consumer-focused venue for buying, selling and storing digital assets and has since evolved into a broader financial infrastructure platform. Its operational headquarters are in the United States, with the company historically associated with San Francisco and a distributed remote-first workforce. Coinbase’s business model is built around two main revenue engines. The first is transaction activity, driven by retail trading through the Coinbase app and institutional execution and custody via Coinbase Prime. The second is subscriptions and services, including custody, staking, stablecoin-related activity, developer tools, business services and other infrastructure offerings. Over time, Coinbase has positioned itself as a full-stack platform, combining exchange liquidity, secure custody, settlement rails and stablecoin infrastructure to serve consumers, institutions, builders and enterprises. From a competitive standpoint, Coinbase has a strong brand in the U.S. market and a comparatively robust regulatory posture versus many crypto-native peers. That said, it operates in a highly competitive and fast-changing environment. Key rivals include global crypto exchanges, brokerage platforms expanding into digital assets, and new financial technology entrants. The business is also highly sensitive to crypto market cycles, trading volumes, asset prices and regulation. Recent developments underscore Coinbase’s push to broaden its platform well beyond spot crypto trading. In 2025 and early 2026, the company accelerated its “Everything Exchange” strategy, expanding into more trading products, derivatives, stablecoin infrastructure and institutional services. Coinbase also disclosed the acquisition of Deribit, strengthening its international derivatives franchise and helping it build a global leadership position in crypto options and futures. In parallel, the company has continued to launch new products around equities, futures, prediction markets and onchain infrastructure, signaling its ambition to become a multi-asset financial platform rather than a pure crypto exchange.