Brian

Polymarket

Coinbase boss Brian Armstrong shook up two prediction markets in the final seconds of Thursday’s third-quarter earnings call by dropping a list of crypto buzzwords that Kalshi and Polymarket users bet would be mentioned in the call, resolving all markets to a “yes.”&nbsp;
Several Kalshi and Polymarket users were ecstatic that their bets paid off in the final seconds. In contrast, others were understandably <a href="https://x.com/seanlippel/status/1984065018498052348" rel="noopener noreferrer nofollow" target="_blank">rattled</a> to hear that a prediction market could be so easily upended. &nbsp;
“I was a little distracted because I was tracking the predictions market about what Coinbase will say in their next earnings call, and I just want to add here, the words Bitcoin, Ethereum, blockchain, staking, and Web3, make sure we get those in before the end of the call,” said Armstrong.&nbsp;
The “What will Coinbase say during their next earnings call” markets from <a href="https://kalshi.com/markets/kxearningsmentioncoinbase/coinbase-earnings-mention/kxearningsmentioncoinbase-25oct29" rel="noopener noreferrer nofollow" target="_blank">Kalshi</a> and <a href="https://polymarket.com/event/earnings-mentions-coinbase-2025-10-29?tid=1761871701350" rel="noopener noreferrer nofollow" target="_blank">Polymarket </a>saw $80,242 and $3,912 worth of bets placed.
That included <a href="https://cointelegraph.com/news/polymarket-us-trading-relaunch-november" rel="noopener noreferrer nofollow">24 punters on Polymarket</a>, where fortunately, no one lost more than $12 on a single bet.&nbsp;
Armstrong later on X <a href="https://x.com/brian_armstrong/status/1984048706220609998" rel="noopener noreferrer nofollow" target="_blank">said</a> it happened “spontaneously when someone on our team dropped a [prediction markets] link in the chat.”
<blockquote class="twitter-tweet">
 lol this was fun - happened spontaneously when someone on our team dropped a link in the chat <a href="https://t.co/tQiV3B9jUj" rel="noopener noreferrer nofollow">https://t.co/tQiV3B9jUj</a>— Brian Armstrong (@brian_armstrong) <a href="https://twitter.com/brian_armstrong/status/1984048706220609998?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 31, 2025</a>
</blockquote>
<h2 id="armstrong-seemed-to-please-more-punters-than-not">Armstrong seemed to please more punters than not</h2>
Almost every punter in the comments section was pleased with Armstrong’s last-minute decision to list the <a href="https://cointelegraph.com/news/how-pump-fun-captured-80-of-solana-memecoins-and-can-it-last" rel="noopener noreferrer nofollow">crypto buzzwords</a> not mentioned earlier.
“HAHAHAH THE GOAT BRIAN,” Polymarket user TheMasterMind said, while Kalshi users Redbullfool and Chungboy thanked Armstrong for the “gift.”
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2025-10/019a381a-f2ab-76fd-bbde-ad694c03a381" title="" alt="Coinbase CEO’s bizarre final words on Q3 call just paid off a lucky few">
 <figcaption style="text-align: center;">
 Mention words in Kalshi’s “What will Coinbase say during their next earnings call” market. Source: <a href="https://kalshi.com/markets/kxearningsmentioncoinbase/coinbase-earnings-mention/kxearningsmentioncoinbase-25oct29" rel="noopener noreferrer nofollow" target="https://kalshi.com/markets/kxearningsmentioncoinbase/coinbase-earnings-mention/kxearningsmentioncoinbase-25oct29">Kalshi&nbsp;</a> 
 </figcaption>
</figure>
While <a href="https://cointelegraph.com/explained/prediction-markets-explained" rel="noopener noreferrer nofollow">prediction markets</a> are powerful tools for gauging expectations, they rely on the trust that insiders won’t won’t exploit their knowledge for personal gain.
Related: <a href="https://cointelegraph.com/news/bitwise-solana-staking-etf-55-million-debut-trading-volume" rel="noopener noreferrer nofollow">Bitwise Solana Staking ETF notches $55M trading volume on debut</a>
Actions like this have previously raised suspicions of insider trading and <a href="https://cointelegraph.com/news/crypto-market-manipulation-schemes" rel="noopener noreferrer nofollow">market manipulation.</a>
<h2 id="coinbase-performed-well-in-q3">Coinbase performed well in Q3</h2>
Although the earnings call had an unusual conclusion, <a href="https://cointelegraph.com/news/coinbase-launching-crypto-tech-stocks-futures-index" rel="noopener noreferrer nofollow">Coinbase delivered</a> another <a href="https://cointelegraph.com/news/coinbase-btc-holdings-rise-q3-earnings" rel="noopener noreferrer nofollow">profitable quarter</a>, with $432.6 million in net income and $1.9 billion in revenue, representing a 55% increase from the same quarter in the previous year.
Coinbase also increased its Bitcoin (<a href="/bitcoin-price" rel="noopener noreferrer">BTC</a>) holdings by 2,772 BTC to 14,458 BTC — putting it back in the top 10 largest corporate Bitcoin holding companies, BitcoinTreasuries.NET <a rel="noopener noreferrer nofollow" target="_blank">data</a> shows.
Magazine: <a href="https://cointelegraph.com/magazine/bitcoin-kyle-chasse-venture-capitalist-youtube-strike-cointelegraph/" rel="noopener noreferrer nofollow">Bitcoin OG Kyle Chassé is one strike away from a YouTube permaban</a>

Coinbase CEO’s bizarre final words on Q3 call just paid off a lucky few

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