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Morningstar

Morningstar

Apr 17, 2026

Coinbase Global, Inc.: Coinbase: Lowering Our Fair Value Estimate on Lower Trading Revenue

Symbols

COIN

Sector(s)

Financial Services

Rating

Current Price

191.25

Fair Value

Economic Moat

Stewardship

Summary

Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy. Users can establish an account directly with the firm, instead of using an intermediary, and many choose to allow Coinbase to act as a custodian for their cryptocurrency, giving the company breadth beyond that of a traditional financial exchange. While the company still generates the majority of its revenue f

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