Asked around after going through Coinbase's PM loop earlier this year. Posting what I found because the PM comp data for crypto companies is weirdly sparse.
Coinbase PM levels roughly: PM1 (entry), PM2 (mid), SPM (senior), Group PM (staff-equiv). Here's my rough picture:
PM2 / mid-level (3-5 YOE): $160-185k base, $200-250k equity 4-year, 10-12% bonus target. Total comp around $210-240k.
SPM / senior (6-10 YOE): $195-220k base, $350-450k equity, 15% bonus. Total $280-330k.
My own offer (SPM, remote): $205k base, $380k equity over 4 years, 12% target bonus, $25k sign-on. I took it after negotiating up from the first number.
The PM interview itself had a surprisingly strong technical component. They wanted to know that I understood API design, blockchain-level concepts at a high level, and could talk about crypto rails specifically. Not coding, but you can't fake the domain knowledge. I prepared for two weeks on how Coinbase's product works end-to-end.
Comp is solid relative to PM comps I've seen at fintech companies. It's not top of market vs. Meta/Google PM, but it's close and you get the crypto-native exposure which has its own career value if you stay in this space. The equity is obviously tied to COIN stock.
One thing nobody tells PMs: the PM-to-PM ratio at Coinbase feels lean. Teams are small. That's more ownership but also more context-switching.