Coinbase Global, Inc.
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
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FY2025 · Filed Feb 12, 2026
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22. Related Party Transactions
- RELATED PARTY TRANSACTIONS
Related party customer activity
Certain of the Company’s directors, executive officers, and principal owners, including immediate family members, are users of the Company’s platform. The Company recognized the following from related party customer activity:
Total revenue of $9.6 million, $22.7 million, and $17.9 million during the years ended December 31, 2025, 2024, and 2023, respectively;
Accounts receivable, net of $0.4 million and $2.7 million as of December 31, 2025 and 2024, respectively;
Transaction expense of $0.1 million, $0.1 million and animmaterial amount during the years ended December 31, 2025, 2024, and 2023, respectively; and
Customer custodial funds and Customer custodial fund liabilities of each $11.0 million and $44.0 million as of December 31, 2025 and 2024, respectively.
Related party investments
The Company made strategic investments of an aggregate of $14.2 million and $12.1 million during the years ended December 31, 2025 and 2024, respectively, in investees in which certain related parties of the Company held an interest over 10%.
Other related party activity
General and administrative costs from related party activities, primarily consulting services provided by entities affiliated with related parties, were $0.1 million, $1.4 million, and $2.5 million, during the years ended December 31, 2025, 2024, and 2023, respectively.
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