🟢 [E890] Goldman Sachs cuts Coinbase target 15% to $264. 4Q25 EPS $1.46 vs $1.39-1.69 consensus, net revenue 3% below Street. Weak 1Q26 guidance: transaction revenue $920mn (11% below), subscription revenue $590mn (22% below). Retail take rate compression from product mix shift and lower Coinbase One fees.