Coinbase Global Inc Ordinary Shares - Class A

COIN: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Coinbase: Lowering Our Fair Value Estimate on Lower Trading Revenue

Michael Miller

Feb 13, 2026

While Coinbase's fourth-quarter results were better than we had feared, the firm still faces major headwinds from the collapse in cryptocurrency prices, which pressures its trading, staking, and custody businesses.

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Coinbase Global Inc Ordinary Shares - Class A

Coinbase: Lowering Our Fair Value Estimate on Lower Trading Revenue

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