The latest data point for COIN's revenue in Q4'25 stands at $1.78B USD, reflecting a decline from the previous quarter's $1.87B USD and marking a year-over-year decrease of -21.6%. This represents a moderation from the stronger growth seen earlier in the year, with revenue still above the levels observed in 2023 but below the peak of $2.27B USD achieved in Q4'24. Over the period from Q1'23 to Q4'25, COIN's revenue exhibited volatile growth patterns, starting at $773M USD and declining to a low of $674M USD in Q1'23 before surging to highs of $2.27B USD in Q4'24, driven by year-over-year increases peaking at 138% in that quarter. Subsequent quarters showed mixed performance, with Q1'25 and Q2'25 experiencing decelerating growth of 24% and 3% respectively, followed by a rebound to 55% in Q3'25, but ending with a contraction in Q4'25; overall, the trend highlights cyclical expansion tied to market conditions, with average quarterly revenue rising from under $800M USD in 2023 to over $1.7B USD in 2025.