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Coinbase Global Inc. (NASDAQ:COIN) shares traded up 5% in premarket Friday after CEO Brian Armstrong went viral for reading out live prediction market bets during the company's third-quarter earnings call.
Armstrong ended the Q3 call by opening a prediction market tracking what he might say on the broadcast — and proceeded to read it aloud line by line.
The moment drew laughter and applause from listeners on X.
Anthony Pompliano, investor and podcast host, posted that Armstrong was a "legend" for the move, calling it one of the most authentic moments ever seen on a corporate earnings call.
The exchange fueled a wave of community reaction highlighting Armstrong's growing influence in shaping the culture around corporate transparency and crypto engagement.
Coinbase's Q3 2025 earnings report showed revenue of $1.9 billion, up 25% from the prior quarter.
The gain came on the back of strong institutional trading volumes, favorable market conditions, and new derivatives offerings.
The company also revealed that it added 2,772 Bitcoin (CRYPTO: BTC) to its holdings in the third quarter, increasing its total balance to 14,548 BTC, or roughly $1.6 billion at current prices.
That ranks Coinbase as the ninth-largest corporate Bitcoin holder globally, surpassing firms like Tesla and Block.
Armstrong said in a post on X that Coinbase is "long Bitcoin" and plans to keep buying.
"Our holdings increased by 2,772 BTC in Q3. And we keep buying more," he wrote, underscoring confidence in the digital asset amid market uncertainty.
Analysts at Morningstar, Inc. (NASDAQ:MORN) said Coinbase's early lead sustains its dominance, though rivals Gemini (NASDAQ:GEMI) and Bullish (NYSE:BLSH) intensify competition.
Strategists at J.P. Morgan Chase & Co. added that Coinbase's scale and regulatory clarity position it well for acquisitions amid clearer U.S. rules under the Trump administration.
Armstrong acknowledged that clearer U.S. rules under the Trump administration have driven both growth and competition.
"Lots of new players are coming in," he said, "and we need to make sure we execute well."
COIN Key Technical Levels (Source: TradingView)
Technically, Coinbase slipped nearly 6% to around $328 after failing to hold above the $344 level.
The chart shows price consolidating within a descending triangle, with the 20-day EMA acting as resistance.
Key Fibonacci support lies near $329, aligning with the ascending trendline since July.
A break below this could expose the 200-day EMA at $296, while RSI near 44 reflects weakening momentum.
A rebound above $344 could trigger a retest of $380 at the 0.618 retracement.
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