We got flying cars, now it's time we get a modern financial system. Let me Coinbase-pill you for a minute. Financial services is a massive industry. All fintech companies combined capture about 4% of total global financial-services revenues, while traditional financial-services companies account for the remaining ~96%. Yet the financial services industry is going through two massive technological shifts right now with crypto and AI. This is our opportunity, and the transformation is happening fast. Crypto is replacing the rails: stablecoins let anyone move money anywhere, instantly and almost free; tokenization lets anyone own any asset; and onchain markets let them trade it around the clock. AI is replacing the interface: agents will increasingly research, decide, execute, and pay on behalf of people and businesses, putting a capable financial expert in everyone's pocket that can act for you, not just advise you. Together they can give every person and business the financial power that used to belong to a few. Coinbase exists to make that happen in a way people can trust. Coinbase is using these frontier technologies to build the best modern financial account. Crypto rails, AI interface. Trading, payments, saving, borrowing, etc all in one. We just released our Q3 earnings, and we set product records across the board despite the tough market. And I’m seeing signs that the market is turning. Some Q3 highlights: - We store more crypto than anyone in the world - We have a global regulatory foundation with 80+ licenses - 14th consecutive ATH of average USDC in CB products - 5th consecutive ATH in CB1 subs Best of all, the everything exchange is working. The progress since we announced last year has been awesome: - 4th quarter of crypto trading volume market share gains, nearly doubled since this time last year - $200M+ annualized revenue from prediction markets in Q3, one of our fastest growing products by revenue in history! With >60% daily trader growth QoQ Jobs not finished until the entire financial system is updated with these frontier technologies.

At @ycombinator, we're excited to fund more crypto startups solving financial needs including AI capital raising, stablecoins, trading, and agents. Here's our latest crypto request for startups. Our next application deadline is Monday.

Mastercard is now helping agents pay for digital services. Coinbase provides the agentic payments infrastructure to power each @Mastercard agent using @Cloudflare. Powered by x402 and the Coinbase facilitator. If you’re building in agentic commerce, let’s talk.

Americans should be able to participate in new crypto networks from the start, with the information and protections they need to make informed decisions. That’s the goal of @SECGov’s proposed Regulation Crypto Assets, and the comment letter that @coinbase just filed. We’re grateful to @SECPaulSAtkins and the Commission for their vision and their leadership. A few thoughts.🧵

Your life doesn’t run on banking hours, your money shouldn’t either. Stablecoins already meet that bar – with most volume moving on nights, weekends and holidays. 73% of volume to be exact. And that’s just one of the findings from our new research with @TheBlockCo ↓

Stablecoin infrastructure meets global fiat payouts. We’re partnering with @ThunesPayments to connect stablecoins with local bank accounts and mobile wallets around the world. Coinbase powers Thunes’ stablecoin infrastructure. Thunes expands Coinbase’s fiat payout reach.

We've been busy. → Deribit, the world's largest crypto options exchange, is now part of Coinbase → Soon, a first: US + global derivatives in one regulated liquidity pool → Next: options, spot margin + unified portfolios And Coinbase Pro returns later this year.

Prediction markets are swaps: "they just happen to be swaps that people find entertaining and fun." Couldn't have said it better. Read more about our prediction markets win in IL at the link 🔗 below. We are grateful to the court for their careful consideration.

Since the advent of Bitcoin in 2008, the crypto asset market has grown from a niche curiosity into a multi-trillion-dollar asset class to which investors actively seek exposure. Unfortunately, our rules and regulations have not kept pace. To that end, today’s proposal would provide a clear regulatory framework for the custody of crypto assets, giving investment advisers and funds a compliant pathway where none existed before—and replacing the grey of uncertainty created by custody rules crafted for a bygone era.

The new frontier of finance isn't on the horizon. It's here. As our markets evolve at warp speed, the @CFTC is upgrading its rules and regulations to prepare for the era of onchain systems, mass tokenization, 24/7 trading, and agentic finance.