Coinbase Surges Ahead in Corporate Bitcoin Holdings, Overtakes Tesla

In a bold move underscoring its confidence in Bitcoin, Coinbase has dramatically expanded its BTC treasury, acquiring 2,509 BTC in Q2 2025 at a total cost of $222 million. This strategic accumulation brings Coinbase's total holdings to 11,776 BTC, valued at approximately $1.26 billion as of August 2025, with an unrealized gain of $614 million. This positions Coinbase among the top 10 corporate Bitcoin holders globally, surpassing Tesla's holdings of 11,509 BTC. The exchange's aggressive Bitcoin strategy highlights its distinct approach to corporate treasury management in the cryptocurrency space, signaling strong institutional belief in Bitcoin's long-term value proposition. This development marks a significant milestone in corporate adoption of digital assets and reinforces Coinbase's leadership role in the crypto ecosystem.

Coinbase Expands Bitcoin Holdings, Surpasses Tesla in Corporate BTC Rankings

Coinbase has significantly bolstered its Bitcoin treasury, acquiring 2,509 BTC in Q2 2025 at a cost of $222 million. The exchange now holds 11,776 BTC worth $1.26 billion, marking a $614 million unrealized gain. This strategic accumulation propels Coinbase into the top 10 corporate Bitcoin holders, overtaking Tesla's 11,509 BTC position.

The exchange's corporate holdings represent a distinct strategy from its custodial assets, which safeguard 884,388 BTC ($102 billion) for clients. MicroStrategy, Marathon Digital, and Tether-backed entities remain the only corporations holding larger BTC positions than Coinbase.

This acquisition coincides with Coinbase's ambitious pivot toward becoming an 'everything exchange' - expanding beyond crypto into tokenized equities and prediction markets. The move signals growing institutional confidence in bitcoin as a treasury asset amid the exchange's broader financial ecosystem ambitions.

JPMorgan Embraces Crypto as SEC Enhances ETF Efficiency and ECB Reconsiders Stablecoins

JPMorgan has executed a dramatic reversal on cryptocurrency, now offering Bitcoin and ethereum trading alongside plans to accept digital assets as loan collateral. The bank's newfound embrace includes integration with Coinbase, signaling a strategic pivot under the new US administration. Jamie Dimon's previous dismissals of Bitcoin as "worthless" have given way to institutional pragmatism.

The SEC has quietly authorized in-kind redemptions for spot Bitcoin and Ethereum ETFs, enabling authorized participants to exchange shares directly for crypto rather than fiat. This regulatory shift promises greater efficiency for institutional movements and improved arbitrage between spot and derivative markets.

An ECB blog post reveals surprising reconsideration of stablecoins from a former crypto skeptic, acknowledging their potential role in cross-border payments. The commentary suggests growing European concerns about dollar dominance in the digital asset space.

U.S. Banks Accused of Launching “Chokepoint 3.0” to Target Crypto and Fintech

Andreessen Horowitz partner Alex Rampell warns that U.S. banks are implementing what he calls "Chokepoint 3.0," a strategy to suppress fintech and crypto platforms through fee hikes, restricted access, and app blocking. Institutions like JPMorgan are allegedly increasing costs for money transfers and limiting access to account data, raising concerns about stifled competition and innovation in the crypto sector.

Industry leaders are calling for regulatory intervention to safeguard consumer choice and maintain a level playing field for emerging technologies. The MOVE could disproportionately affect platforms such as Coinbase and Robinhood, which rely on seamless banking integration.