I forever blow in bubbles

2025 @Coinbase: • Coinbase joined the S&P 500 - becoming the first crypto native company added to the index, marking a major milestone for mainstream adoption and cementing crypto’s place in global financial portfolios. • We closed 10 acquisitions in 2025, Coinbase’s most active year for Mergers & Acquisitions ever. This included @DeribitOfficial, marking the largest acquisition in crypto history, as well as @liquifi_finance & @echodotxyz, expanding Coinbase into a full-stack platform for crypto projects and investors covering everything from launch to fundraising to secondary trading. • Set a new record for the most assets listed in a single year on Coinbase, dramatically expanding access to crypto markets for users worldwide. • The SEC voluntarily dismissed its case against Coinbase, ending litigation. By successfully obtaining permanent dismissal, Coinbase precipitated an end to the SEC’s unlawful campaign against the crypto industry. • Crypto got real rules. 2025 marked a breakthrough year as the GENIUS Act set federal standards for stablecoins, and the CLARITY Act is aiming to advance market structure - giving the industry long-needed regulatory certainty, with Coinbase advocating for both. • Upgraded the U.S. trading stack with futures + perpetual futures - bringing more powerful trading to a cleaner, faster flow with access for more clients. • Secured MiCA approval in Europe, unlocking the ability to offer regulated crypto services across the entire EU under a single license and significantly expanding our global footprint. • @CoinbaseInsto continued to lead institutional crypto markets - launching 24/7 CFTC-regulated futures trading, introducing U.S.perpetual-style futures, enabling the first futures/spot cross-margin trading in crypto, and is crypto’s largest custodian with $300B assets under custody. • We reincorporated in Texas, aligning Coinbase with a more innovation-forward regulatory environment. • Announced Stock trading and Prediction Markets on Coinbase. • Launched the Coinbase One Card in the U.S., offering eligible members Bitcoin back on every purchase (terms apply). • Introduced crypto-backed loans on Coinbase, enabling users to borrow USDC against crypto collateral via @Morpho on @Base - already surpassing $1B in Bitcoin-backed loans, and recently launched Ethereum-backed loans too. • Rolled out integrated DEX trading in the Coinbase app, giving users access to millions of tokens from onchain markets on @Base and @Solana - expanding beyond the traditional crypto trading experience. • Token sales went live on Coinbase, bringing regulated early access to new digital assets back to retail users with a fair allocation model prioritizing smaller buyers, issuer lockups for transparency, including for U.S. users. • The @Baseapp, the everything app for social, trading, and payments, launched worldwide to anyone, anywhere. • @CBVentures made over 600 investments in projects on every major blockchain, hosted the first-ever Coinbase Alumni event for our 100+ CB alumni-turned-founders/builders, and launched the first investment group by a major exchange to support @Base builders on Echo. • Global stablecoins went onchain: @Base expanded beyond USD in 2025, launching 18+ local stablecoins across Asia-Pacific, LATAM, and Europe to support everyday payments in local currencies. • @Shopify integrated USDC payments at checkout via @Base, enabling global merchants to accept instant, low-cost onchain payments. • @Base reached Stage 1 decentralization - shipping permissionless fault proofs and a 10-member independent Security Council, reducing reliance on any single operator and giving users stronger guarantees that funds can always exit to Ethereum. • @CoinbaseDev introduced x402, an open payment standard that gives developers, and AI agents, native access to wallets and onchain payments, with Payments MCP and the CDP x402 Facilitator driving global adoption. 2025 was a year of relentless shipping and execution - from expanding what you can trade, to where and how the world trades it, we’ve been focused on building the foundation for the next era of finance. More assets. More access. More markets. One platform, for everything. Time for 2026.