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Posted: 2025-06-10 08:46:19 UTC
This article contains some claims that are falsified. While not everything in the article is false, please proceed with extreme caution and verify any critical information independently.
This article contains some claims that are falsified. While not everything in the article is false, please proceed with extreme caution and verify any critical information independently.
Status
Last Updated
2025-06-10 08:46:31 UTC
Verified By
Rollup News
The market shows a split in how it values stablecoin revenues. Circle ($CRCL) opened at a ~$32B EV, which is 34.8x its projected 2025 net revenue. If Coinbase ($COIN) maintains its ~53.5% cut of reserve income, approximately $1.29B in revenues would imply $44.9B of COIN’s $60.5B EV is solely from USDC. This suggests the rest of Coinbase is trading at less than 2.5x net revenue, which is below traditional finance valuations.
Market valuation of stablecoin revenues
Coinbase's valuation heavily influenced by USDC
Potential undervaluation of Coinbase's non-stablecoin business
Determining fair valuation for crypto businesses
Assessing the impact of stablecoin revenue on overall company valuation
Understanding market demand for non-stablecoin crypto ventures