S&P Global Ratings reaffirmed its "BB-" long-term foreign currency credit rating for Coinbase Global Inc. and maintained a stable outlook on November 7, 2025. This action indicates that the rating agency perceives Coinbase's financial health as steady, without anticipating a near-term change in its creditworthiness. The affirmation provides a degree of stability to investor perception following recent volatility. While the "BB-" rating is within the speculative-grade category, the stable outlook suggests S&P does not foresee conditions that would likely lead to a rating change in the intermediate term. No significant market reaction to this specific announcement was noted in the available reports.