Posted by Alumni from Substack
February 20, 2026
Good morning & happy Thursday! Today, we're diving deep into digital asset pioneer Coinbase, which is building a crypto highway, yet the traffic is too cyclical (deep dive into their latest financials, breaking down the most important facts & figures, understanding what they mean, and whether COIN 0.00%' is worth your time and money in 2026 and beyond + bonus dive into their biggest competitor Robinhood inside), and ElevenLabs that became the first company to insure their AI Agents (how this changes the paradigm, what this means for Finance/FinTech, Insurance, etc. firms deploying agents & Agentic AI in general + ElevenLabs pitch deck teardown inside). So without further ado, let's jump straight into the fascinating stuff '' Earnings time ' Digital asset pioneer Coinbase COIN 0.00%' recently delivered a respectable FY2025 with $7.2B in total revenue (+9% YoY) and $2.8B in Adjusted EBITDA, proving its business model is more resilient than prior cycles suggested. But the Q4 GAAP net... learn more