In this photo illustration, the Coinbase logo is displayed on a smartphone screen.
Rafael Henrique | SOPA Images | Lightrocket | Getty Images
Coinbase reported user numbers that fell short of analysts’ estimates even as fourth-quarter earnings and revenue beat projections. The stock rose more than 2% in extended trading after dropping 4.8% during the day.
Here’s how the company did:
Earnings: Loss of $2.46 per share, vs. loss of $2.55 per share as expected by analysts, according to Refinitiv.
Revenue: $629 million, vs. $590 million as expected by analysts, according to Refinitiv.
Revenue plunged nearly 75% from a year earlier as the so-called crypto winter continued to drag on the price of cryptocurrencies. The company also reported a (non-adjusted) net loss of $557 million, a year after Coinbase generated net income of $840 million during the peak of crypto adoption.
Coinbase’s user base continues to shrink. The company said it had 8.3 million monthly transacting users (MTUs) during the fourth quarter, down from 8.5 million the prior period. Analysts were expecting 8.22 million, according to StreetAccount. Trading volume fell 9% to $145 billion from the previous quarter.
Transaction revenue fell 12% to $322 million from the previous quarter, which was below the $327 million consensus among analysts polled by StreetAccount.
For Q1 2023, the company projected subscription and services revenue of $300 million to $325 million, as well as restructuring expenses of about $150 million. Diversifying its revenue streams away from just trading fees has been a big priority for the company, with subscription and services taking center stage. Traction in products such as Staking, Earn, and Custody generated over $200 million in the fourth quarter.
Coinbase has gone through two major rounds of layoffs since June 2022 in an effort to pare back spending to preserve cash. The exchange cut 20% of its staff last month, following an 18% reduction of its workforce in 2022.
Prior to Tuesday’s after-hours moves, the stock was up more than 75% in 2023, following 2022’s plunge in crypto prices coupled with a retreat from the riskiest equities. This year bitcoin, the most popular cryptocurrency, has risen more than 48%.
Coinbase Chief Financial Officer Alesia told CNBC that markets have rebounded in the current quarter compared to Q4 2022, and that “market conditions have really evolved, even in a single month.” Haas noted that Coinbase generated $120 million in transaction fee revenue in January, adding that retail has come back to the market.
“We’re seeing what we’ve seen always in crypto,” Haas said in a call with CNBC. “It’s overall volatility and market conditions that drive trading activity and that these idiosyncratic events have changed that longer-term dynamic that we’ve seen.”
Coinbase’s business could also be impacted by possible SEC actions that would govern certain types of cryptocurrency tokens and crypto services as securities. Tweets by CEO Brian Armstrong and Chief Legal Officer Paul Grewal havesuggested the company would fight any such action in court.
Crypto exchange Kraken, for example, recently ended its staking services as part of a settlement with the SEC over allegations that the platform sold unregistered securities.
Many centralized exchanges like Kraken and Gemini offer customers the option to stake their tokens in order to earn yield on their digital assets that would otherwise sit idle on the platform. With crypto staking, investors typically vault their crypto assets with a blockchain validator, which verifies the accuracy of transactions on the blockchain. Investors can receive additional crypto tokens as a reward for locking away those assets.
But on a call with CNBC, Haas insisted that Coinbase’s staking product was “not a security.” Haas added that staking was less than 3% of net revenue, so it was not a material source of net revenue at this time — but an “important part of the ecosystem” that the platform plans to grow.
Executives will discuss the results on a conference call starting at 5:30 p.m. ET.
Tesla’s stock (TSLA) crashed by as much as 5% in pre-market trading after President Trump threatened to set DOGE on Elon Musk, who has been criticizing his ‘Big Beautiful Bill’.
After being kindly shown the door to the White House last month, Musk had a brief moment of clarity and started to criticize Trump and the Republican party, which he helped elect with almost $300 million of his own money in the 2024 elections.
He highlighted how Trump’s “Big Beautiful Bill” is expected to increase the deficit and debt. The Tesla CEO even linked Trump to Jeffrey Epstein, something that has been well known for decades, but Musk conveniently ignored it as he was backing the President and wearing hats that read, “Trump was right about everything.”
Musk quickly calmed down and even apologized for “going too far” and started praising Trump again.
Advertisement – scroll for more content
That didn’t last long.
Over the last few days, as the Senate attempts to pass Trump’s budget and tax bill, Musk has renewed his efforts to halt the legislation.
The CEO appeared to renew the attacks after the Senate updated the bill to kill the EV incentive sooner and to increase taxes on solar and wind projects.
However, Musk said that he doesn’t mind EV and renewable energy subsidies going away, but he believes that fossil fuel subsidies should also be removed, which is not in the plans at all.
Trump campaigned on Musk’s money, claiming that he would get America to “drill, baby, drill” again.
The CEO went as far as threatening any Senator who vote for the bill, all Republicans, to face his money in their next primary. He added that if the bill passes, he will create a new “America Party.’
Musk’s attacks have focused on the bill itself and the Republicans voting for it, but Trump likes to call it his bill, and unsurprisingly, he is unhappy with Musk.
Last night, he took to Truth Social to highlight again that Musk “would probably have to close up shop and head back to South Africa” without US government subsidies.
The President then suggested that he could have DOGE, a department that Musk created, go after him and the subsidies that his companies get:
Elon Musk knew, long before he so strongly Endorsed me for President, that I was strongly against the EV Mandate. It is ridiculous, and was always a major part of my campaign. Electric cars are fine, but not everyone should be forced to own one. Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa. No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!
Tesla’s stock dropped by more than 4% in pre-market trading following the President’s threat.
Musk responded to the President by pointing out that he is asking to remove the subsidies, but he didn’t add his usual caveat of also removing all subsidies for fossil fuel.
Electrek’s Take
It’s both sad and funny to see Elon now. It’s sad because the US is plunging back into an energy dark age of relying on fossil fuels. Still, it’s amusing because Elon is acting as if he’s just now realizing what he has done, despite everyone but a few cult members screaming at him that this was going to happen for the last year.
Elon got what he wanted out of Trump with his $300 million, and now, he realizes that his influence has limits and that Trump is going to do way more damage than just what Musk wanted out of him: to stop illegal immigration and the so scary “woke mind virus.”
The result will be a significant blow to the growth of electric vehicles and clean energy in the US, and Tesla will be affected in the process, exactly what we have been saying for the last year.
FTC: We use income earning auto affiliate links.More.
Police across the US are cracking down on illegal use of out-of-class e-bikes or non-street-legal electric motorcycles used on public roads. It used to be that if you sped off on an illegal electric dirt bike or mini bike after a traffic stop in California, there was a good chance you’d get away. Most police departments don’t want to engage in high-speed chases over these types of violations, especially if the rider isn’t wearing a helmet or is weaving through dense traffic. And since these types of bikes almost never have license plates, merely outrunning or outmaneuvering a police cruiser through some bushes or over a sidewalk was usually enough to evade justice. But lately, a new kind of chase is happening – from above.
Several California police departments are now turning to small, simple-to-operate drones similar to consumer drones to track down illegal e-bike and electric dirt bike riders who flee traffic stops.
These drones, often built on platforms used by consumer drones but with upgraded camera equipment, are quiet, effective, and don’t put pedestrians or officers at risk like a high-speed pursuit.
And while the tech isn’t new, the way it’s being deployed marks a turning point in how cities are responding to the rise of unregistered, high-powered electric motorbikes and minibikes on public roads.
Advertisement – scroll for more content
Recently, the Irvine Police Department shared details on how they caught a minor who was illegally operating a Stark Varg electric dirt bike on public roads and then sped away from police attempting to conduct a traffic stop.
“A 16-year-old juvenile recklessly fled from officers during an attempted traffic stop on Jamboree, reaching high speeds. The rider ran multiple red lights, placing innocent lives in danger. Thankfully, with the assistance of our drone team, officers quickly located the teenager and safely took him into custody. He was later released to his parent. The juvenile was unlicensed, and the motorcycle was purchased by a parent who knowingly allowed their child to ride it. That parent was cited, and the motorcycle was impounded.”
Fortunately, the Irvine PD efficiently employed an entire flatbed rollback truck to tow the light electric dirt bike (Photo via IPD Facebook page)
In a similar case just a few weeks ago, the Desert Hot Springs Police Department used a similar drone setup to catch a juvenile illegally operating a non-street-legal minibike on public roads.
As the department shared in a social media post mocking the rider, “Officers attempted to stop a suspect illegally riding a mini bike on city streets. Instead of pulling over like a reasonable person, he chose to flee… on a mini bike. Little did he know, our drone team was already in the air and had front-row seats to this low-speed drama. They followed him as he weaved through traffic, blew through stop signs, and ultimately led us right back to his own front door.”
The DHSPD explained that after the drone watched from above and followed the rider home, police officers arrived and knocked on his front door, which he promptly answered. “He was arrested at his residence without incident,” the post continued. “The mini bike? Impounded. The escape attempt? Hilarious.”
Some police departments in California are still employing police helicopters as their go-to “eye in the sky” for tracking Sur-ron riders who try to run from police, but these light and inexpensive drones are proving to be a more cost-effective and efficient alternative.
The rise of unregistered and often illegally modified electric motorbikes that don’t fit inside existing three-class electric bicycle regulations – many of them closer to light motorcycles than bicycles – has created a real challenge for cities. Riders can disappear down alleyways, weave through traffic, or vanish into neighborhoods where a patrol car can’t follow.
But a few grand for a simple drone? That’s a safer, cheaper solution that can hover and follow quietly from above, sometimes all the way to a suspect’s front door.
This drone-based enforcement strategy raises some interesting questions – not just about surveillance, but about how cities will regulate a fast-evolving micromobility landscape. As out-of-class electric bikes and light electric dirt bikes blur legal categories and create enforcement gaps, tech like drones is stepping in to close them.
Whether that’s a good thing or not depends on your perspective. But one thing’s for sure: the days of just gunning it and getting away are coming to an end.
FTC: We use income earning auto affiliate links.More.
The Dodge Charger Daytona EV made headlines when it rolled out fake engine noises as a way to make the EV appeal to muscle car drivers. As it turns out, they weren’t the right sort of fake engine noises – and now Stellantis has to recall 8,000 of them for a fix.
What’s more, the recall’s “suspect period” reportedly begins on 30APR2024, when the first 2024 Dodge Charger Daytona was produced, and ends 18MAR2025 … when the last Charger EV was produced.
RECALL CHRONOLOGY
On April 17, 2025, the FCA US LLC (“FCA US”) Technical Safety and Regulatory Compliance (“TSRC”) organization opened an investigation into certain 2024–2025 model year Dodge Charger vehicles that may not emit exterior sound.
From April 17, 2025, through May 13, 2025, FCA US TSRC met with FCA US Engineering and the supplier to understand all potential failure modes associated with the issue. They also reviewed warranty data, field records, and customer assistance records to determine field occurrences.
On May 14, 2025, the FCA US TSRC organization determined that a vehicle build issue existed on certain vehicles related to a lack of EV exterior sound, potentially resulting in noncompliance with FMVSS No. 141.
Basically, if you have a Dodge Charger EV, expect to get a recall notice.
It just keeps getting funnier
My take on the Fratzonic Chambered Exhaust, via ChatGPT.
If you’re not familiar with the Charger Daytona EV’s “Fratzonic Chambered Exhaust,” it’s a system that employs a combination of digital sound synthesis and a physical tuning chamber (translation: a speaker) to produce a 126 decibel sound that approximately imitates a Hellcat Hemi V8 ICE. That’s loud enough to cause most people physical pain, according to Yale University – putting it somewhere between a loud rock concert and a passenger jet at takeoff.
While you could argue that such noises are part and parcel with powerful combustion, they’re completely irrelevant to an EV, and speak to a particular sort of infantile delusion of masculinity that I, frankly, have never been able to wrap my head around. Something akin to the, “Hey, look at me! I’m a big tough guy!” attention-whoring of a suburban Harley rider in a “Sons of Anarchy” novelty cut, without even enough courage to ride a motorcycle, you know?
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links.More.