Coinbase CEO Sparks Prediction Markets with Crypto Buzzwords
Coinbase CEO Brian Armstrong intentionally dropped key crypto buzzwords—Bitcoin, Ethereum, blockchain, staking and Web3—during the Q3 2025 earnings call after tracking wagers on Polymarket and Kalshi in prediction markets. Although combined prediction markets volumes were modest ($4,000 on Polymarket and $80,000 on Kalshi), Armstrong’s orchestrated mentions pushed bet odds to nearly 100%, stoking debate over market integrity and insider practices. Meanwhile, Coinbase’s Q3 earnings revealed a 37% surge in transaction revenue to $1 billion, total revenue of $1.9 billion, net income of $433 million and an additional 2,772 BTC added to its balance sheet. Traders should monitor regulatory developments around prediction markets even as the strong Q3 earnings reinforce positive sentiment for Bitcoin, Ethereum and the broader crypto market.
Bullish
By publicly engaging prediction markets and delivering robust Q3 earnings—marked by a 37% rise in transaction revenue, $433 million net income and accumulation of 2,772 BTC—Coinbase reinforces market confidence in Bitcoin and Ethereum. In the short term, the buzz from Armstrong’s tailored use of crypto buzzwords may spur trading volume in prediction markets and spot exchanges as traders position for reactions to potential regulatory scrutiny. Over the long term, Coinbase’s strategic Bitcoin accumulation and transparent investor communication could underpin sustained bullish sentiment, attracting institutional interest and further adoption of crypto services. However, increased scrutiny of prediction markets may introduce regulatory uncertainties that traders should monitor.