Coinbase
Founded in 2012, Coinbase is the largest US-regulated cryptocurrency exchange and a leading institutional custodian, including for spot Bitcoin and Ethereum ETFs. It went public on Nasdaq via direct listing in April 2021 under ticker COIN. In 2023 it launched Base, an Ethereum Layer-2 built on the OP Stack that has grown into a major settlement layer for stablecoins and on-chain applications. In August 2025 it completed its $2.9 billion cash-and-stock acquisition of Deribit, the world's largest crypto-options exchange, expanding into global derivatives, and in October 2025 acquired on-chain capital-formation platform Echo for roughly $375 million. On April 2, 2026 it received conditional OCC approval for a national trust charter, and on June 30, 2026 it joined the Open USD stablecoin consortium alongside Stripe, Visa, Mastercard, BlackRock, and more than 140 other partners. Revenue has diversified beyond trading fees into subscription and services, custody, derivatives, and stablecoin distribution.
Coinbase is the dominant fiat-to-crypto gateway in the US, and Base has made it both the regulated on-ramp and a leading L2 rail for stablecoin payments.
coinbase.com ↗·Exchanges & Trading·
United States·public · NASDAQ: COIN 
