Coinbase's UK Revenue Skyrockets Amid Pay Cuts

Coinbase's UK subsidiary, CB Payments Ltd., released its financial accounts for 2025. The results show that the company generated €270m in revenue, more than double the €132m earned in 2024. This increase was primarily due to a significant rise in transaction revenue, which refers to fees charged to customers for converting cryptocurrencies or other assets.

Profits took a hit, however, falling from around €7.8m to just €160k. Coinbase attributed the decline to increased expenses and a substantial loss of €69m on foreign exchange revenue due to volatility in exchange rates and greater exposure to USD.

The company also experienced a 16% decrease in average pay, dropping from €270k to €228k per person. This reduction was likely due to the addition of new employees, as Coinbase's headcount increased from 141 people in 2024 to an average of 191 in 2025.

Coinbase is anticipating a larger presence in the UK market after receiving a MiFID license in July 2026, which will enable it to trade equities and derivatives alongside its cryptocurrency offerings. However, the company has announced plans to cut around 14% of its workforce due to AI-related efficiency gains, with approximately 30 people set to be impacted by this move.