Coinbase vs Robinhood
Business model, scale, and a side-by-side Litmus framework score — which model wins, and for whom.
Coinbase is crypto-native and crypto-dependent; Robinhood is a multi-asset broker where crypto is just one volatile line.
At a glance
| Metric | Coinbase | Robinhood |
|---|---|---|
| Revenue | $7.18B (FY2025, +9%) | $4.5B (FY2025); $1.07B in Q1 2026 |
| Profit | $1.26B GAAP net income (FY2025) | $1.9B net income (FY2025); $346M in Q1'26 |
| Active users | ~8-9M monthly transacting users | 27.4M funded customers |
| Employees | ~3,800 | ~3,800+ |
| Founded | 2012 | 2013 |
| HQ | San Francisco, USA | Menlo Park, USA |
LLitmus Framework Score
Overall: Coinbase 85 · Robinhood 82
Customer Segment
88
88
Value Proposition
90
85
Marketing Channel
82
82
Engagement
75
80
Income Source
86
86
Asset Validation
89
83
Core Operations
85
78
Strategic Alliance
88
75
Expense Validation
84
84
Coinbase leads 4 modules, Robinhood leads 1. Overall edge: Coinbase.
Head to head
| Dimension | Coinbase | Robinhood |
|---|---|---|
| Core business | Crypto exchange + custody | Stocks, options, crypto, predictions |
| Crypto exposure | Fully crypto-cyclical | Crypto is one line (~47% drop Q1'26) |
| Revenue | $7.18B (FY2025) | $4.5B (FY2025) |
| Users | ~8-9M monthly transacting | 27.4M funded customers |
FAQ
Is Coinbase or Robinhood a better business?
Coinbase is crypto-native and crypto-dependent; Robinhood is a multi-asset broker where crypto is just one volatile line. It depends on what you optimise for — see the module-by-module breakdown above.
What is the difference between Coinbase and Robinhood's business model?
Coinbase operates in Fintech (The future of money is here), while Robinhood is Fintech (Investing for Everyone). Their revenue, scale and Litmus scores are compared in detail above.
Which is more profitable, Coinbase or Robinhood?
Coinbase: $1.26B GAAP net income (FY2025). Robinhood: $1.9B net income (FY2025); $346M in Q1'26.