Why Was Coinbase Stock Moving on Oct 20, 2026? COIN on Oct 19, 2026: Thunes Stablecoin Payments Alliance
Coinbase and Thunes announced a payments alliance at Money20/20 on October 19, 2026. The stock rose only 0.25% in the ten minutes after the news; the bigger moves this year came from earnings and Washington.
- Coinbase and Thunes announced an alliance on October 19, 2026: Coinbase powers Thunes' stablecoin infrastructure and Thunes delivers payouts to local bank accounts and mobile wallets.
- Coinbase traded at $172.34 before the 11:00:00 ET headline and $172.77 ten minutes later, up 0.25%.
- The bigger 2026 moves came earlier: the stock fell 10.59% on July 31 after a second-quarter net loss of $359.5 million on revenue down 19%.
Reaction by asset (real prices)
| Asset | 2m before | At release | +1m | +10m | +1m % | +10m % |
|---|---|---|---|---|---|---|
| COIN | 172.34 | 172.34 | 172.44 | 172.77 | +0.06% | +0.25% |
Coinbase and Thunes, a cross-border payments network, announced an alliance on Monday, October 19, 2026 at the Money20/20 USA conference in Las Vegas. Coinbase will power Thunes' stablecoin infrastructure, and Coinbase will connect to Thunes' Direct Global Network so that payouts can reach local bank accounts and mobile wallets. A stablecoin is a crypto token designed to hold a steady value, usually one US dollar. The headline reached the MoveSurge news feed at 11:00:00 ET. Coinbase traded at $172.34 just before it and at $172.77 ten minutes later, a rise of 0.25%.
The companies named three uses: payments from businesses to suppliers, payouts to gig workers, and money sent home by people working abroad. They did not give a launch date, first markets or financial terms.
Coinbase's dated catalysts in 2026
- July 30, 2026: second-quarter results after the close. Revenue fell 19% to $1.22 billion and Coinbase lost $359.5 million, or $1.36 a share, as crypto trading volumes fell across the industry. Adjusted EBITDA was $207.8 million.
- July 31, 2026: the stock fell 10.59% in the session after the report.
- September 15, 2026: a Senate cloture vote on the CLARITY Act, the bill that would set rules for crypto market structure, failed 49 to 50, short of the 60 votes needed, leaving the bill stalled.
- October 19, 2026: the Thunes payments alliance, and a 0.25% move in the following ten minutes.
- October 29, 2026: Coinbase is scheduled to report third-quarter results after the close.
How Coinbase makes money
Most of Coinbase's revenue comes from fees on crypto trades, so it rises and falls with how much its customers trade. In the second quarter that volume shrank across the industry, revenue fell from about $1.5 billion a year earlier to $1.22 billion, and the stock dropped 10.59% the next day. Payment deals such as the one with Thunes add to the stablecoin side of the business, where Coinbase earns from balances and transactions rather than trading fees, but the companies gave no figures for its size. The October 29 report will show whether trading volume recovered in the third quarter.
Why was Coinbase stock moving on Oct 20, 2026?
On October 19, 2026 Coinbase announced a payments alliance with Thunes to send stablecoin payouts to bank accounts and mobile wallets. The stock rose 0.25% in the ten minutes after the headline, from $172.34 to $172.77.
What is the Thunes and Coinbase alliance?
Coinbase will power Thunes' stablecoin infrastructure, and Thunes will handle delivery of payouts through its Direct Global Network to local clearing systems, bank accounts and mobile wallets. It targets supplier payments, gig-worker payouts and remittances.
When does Coinbase report third-quarter 2026 earnings?
Coinbase is scheduled to report third-quarter 2026 results on October 29, 2026, after the market closes.
Sources
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Thunes and Coinbase join forces to drive next-generation global payments
— Thunes via PR Newswire
Coinbase powers Thunes' stablecoin infrastructure; Coinbase integrates Thunes' Direct Global Network for payouts; supplier payments, gig-worker payouts and remittances; announced at Money20/20 USA.
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Thunes and Coinbase join forces to drive next-generation global payments (PR Newswire copy)
— Morningstar
Copy of the October 19 announcement.
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Coinbase seeks wider stablecoin use through Thunes partnership
— The Crypto Times
Independent report of the Coinbase and Thunes stablecoin payments partnership.
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