Overview
- Brian Armstrong reported that most Coinbase retail customers held equal or greater Bitcoin and Ethereum balances in February than in December when measured in native units.
- Internal platform data indicated retail users increased purchases during price declines rather than engaging in panic selling, a pattern Armstrong labeled as “diamond hands.”
- Ethereum fell roughly 6.6–7% to around $1,947–$2,000 as Bitcoin traded near $68,000–$69,000, reflecting renewed market volatility.
- Analysts noted that steady retail spot buying contrasts with softer institutional inflows and derivatives-driven swings, which could limit near-term stabilization.
- The update arrives after Coinbase posted a $666 million Q4 net loss largely from unrealized impairments, as the company highlights a pivot toward subscription and services revenue.