At a Glance
- Coinbase became the first crypto-native company listed on the S&P 500 in 2025
- The exchange surpassed $1 billion in crypto-backed loans and completed ten acquisitions
- Regulatory wins included EU MiCA approval and the SEC dropping its lawsuit
- Why it matters: The milestones cement digital assets in mainstream finance while security concerns persist
Coinbase closed 2025 with a string of firsts: S&P 500 inclusion, European regulatory clearance, and a ten-figure loan book. The gains underscore crypto’s deepening footprint in global markets even as safety questions linger.
Record Growth and Global Expansion
The exchange’s January 6 post on X listed its 2025 milestones. Joining the S&P 500 marked the first time a crypto-native firm entered the benchmark index. The move places digital assets alongside blue-chip stocks in mainstream portfolios.
Acquisitions totaled ten deals. The largest, Deribit, set a crypto-industry record for transaction size. Other buys included Liquifi Finance and Echodot.xyz, expanding services from token launches to secondary trading.
Regulatory progress came on two continents. Coinbase secured approval under Europe’s Markets in Crypto-Assets (MiCA) framework. The license lets the firm offer regulated services across the EU from a single base. Stateside, the company reincorporated in Texas.
Institutional tools grew around the clock. The platform launched 24-hour CFTC-regulated futures, U.S.-style perpetuals, and cross-margin trading. Retail users gained access to crypto-backed loans backed by more than $1 billion in Bitcoin collateral; Ethereum loans were added later.
Product rollouts targeted both retail and institutional traders. Solana DEX trading arrived inside the main app, giving 100 million users access to millions of tokens on the high-speed network. Token sales returned to retail investors under fair-allocation models. The Coinbase One Card debuted with Bitcoin rewards. Base, the firm’s social-trading-and-payments app, rolled out globally.
Legal victories matched commercial gains. The SEC voluntarily dismissed its enforcement action against Coinbase, ending litigation that had loomed since 2023. Industry observers viewed the suit as a key regulatory hurdle for the sector.
Rising Ambitions Meet Persistent Security Concerns
Despite the wins, critics say user safety has not kept pace. Crypto researcher Taylor Monahan argued earlier in 2026 that preventable losses on the platform topped $350 million in 2025. She cited a 2024 incident where a Coinbase Commerce contract was linked to suspicious outflows of $15.9 million, a finding first flagged by investigator ZachXBT.
CEO Brian Armstrong’s 2026 roadmap promises more expansion. Planned products include prediction markets and event-based contracts. Some analysts contend the rapid rollout has outstripped security upgrades.
New legal fronts are opening. Coinbase filed suits against Illinois, Michigan, and Connecticut last year. The cases challenge state attempts to classify prediction-market contracts as illegal gambling. The firm contends the products fall under the exclusive federal jurisdiction of the Commodity Futures Trading Commission (CFTC). The litigation precedes a January 2026 launch of event-based trading via a partnership with CFTC-regulated platform Kalshi.
Key Takeaways
- Coinbase’s S&P 500 entry and EU license mark regulatory maturation for crypto
- Ten acquisitions and a $1 billion loan book show aggressive balance-sheet use
- Security critics point to $350 million in 2025 losses as growth outruns safety
- Pending state and federal cases will shape the next wave of product launches
