Bitcoin News Today: Coinbase Joins Top 10 Public Bitcoin Treasury Holders With 11,776 BTC

Coinbase disclosed the acquisition of 2,509 BTC in the second quarter, costing around $222 million, which brought its total holdings to 11,776 BTC as of June 30, valued at approximately $1.3 billion with $614 million in unrealized gains [1]. This strategic purchase repositioned Coinbase within the top 10 public bitcoin treasury companies, surpassing Tesla, which holds 11,509 BTC [1]. CEO Brian Armstrong reaffirmed the firm’s commitment to bitcoin, stating on X, “Coinbase is long bitcoin,” following the earnings report [1].

Coinbase previously held 9,267 BTC at the end of Q1, placing it in 13th place. The disclosed holdings reflect only the bitcoin the firm owns for itself, excluding the vast 884,388 BTC it holds for customers, worth $102 billion as of June 30 [1]. The top 10 public bitcoin treasury companies now include Strategy, MARA, Tether-backed Twenty One, Adam Back and Cantor Fitzgerald-backed Bitcoin Standard Treasury Company, Riot Platforms, Trump Media & Technology Group, Metaplanet, Galaxy Digital, and CleanSpark, with holdings ranging from 628,791 BTC to 12,608 BTC [1].

In a broader strategic shift, Coinbase announced plans to become an “everything exchange,” aiming to offer tokenized stocks, prediction markets, and early-stage token sales to U.S. users. The initiative, expected to launch in the coming months, positions Coinbase to compete with platforms like Kalshi and Polymarket in the prediction market space and with Robinhood, Kraken, and Gemini in tokenized equities [1]. The announcement was made alongside the Q2 earnings report, which revealed a $307 million loss linked to a data breach earlier this year, where offshore customer service representatives were allegedly bribed to leak sensitive user data [1].

The earnings report also highlighted a decline in spot trading volumes and revenue. Crypto spot volumes dropped 30% quarter-over-quarter to $237 billion, while total revenue declined 26%. However, net income surged to $1.43 billion, a sharp increase from $66 million in Q1, driven by performance in ETF custody and its Ethereum Layer 2 network, Base [1]. Coinbase shares closed flat at $377.76 on Thursday but fell 11.5% in after-hours trading, reaching $334.92 in pre-market trading on Friday [1].

Source:

[1] [The Block](https://www.theblock.co/post/365218/coinbase-2509-btc-acquisition-q2-top-10-public-bitcoin-treasury-companies-tesla?utm_medium=rss&utm_source=news.xml)