Published May 21, 2026 · CNBC
Q1 earnings reveal crypto's biggest public companies are pivoting from hype-driven trading to diversified revenue — with Matter Labs highlighting the shift toward real-economy integration.
CNBC examines how crypto's largest public companies — including Coinbase, Robinhood, Gemini, and others — are responding to a first quarter marked by falling trading volumes and weaker speculative demand. The piece highlights a broader industry shift: away from hype-driven revenue toward diversified financial services, infrastructure ownership, and real-economy integration. Matter Labs VP of Growth Vassilis Tziokas is quoted on the rising expectations investors now place on crypto companies to expand beyond pure trading into adjacent verticals. The article frames this earnings season as a turning point, with exchanges moving into derivatives, event contracts, and tokenized assets, while even bitcoin treasury firms are rethinking passive accumulation strategies.
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