Team Secret Whales eliminate TOP Esports from MSI 2026 with historic win

A Vietnamese underdog knocks out one of China's premier League of Legends teams, while Coinbase's headline sponsorship of the tournament signals crypto's deepening roots in competitive gaming

by Editorial Team

Sun 5 Jul 2026 · 02:28 EDT 2 min read

In Esports

Coinbase Global, Inc. (COIN) price

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Last close: $161
Close-to-close change: −1.1%
Market cap: $42.5B (shares as of 2026-09-30)
P/E (trailing): Not meaningful: trailing loss. Diluted EPS −2.53 for 2025-10-01 to 2026-09-30, rolled from reported annual and year-to-date EPS (approximate) SEC filing
Annual revenue: $7.2B USD (FY ended 2025-12-31) 10-K
Annual revenue growth: +9.4% (FY ended 2025-12-31 vs FY ended 2024-12-31) 10-K
Annual net income: 1,260,327,000 USD (FY ended 2025-12-31, attributable to the company) 10-K
Annual operating margin: 20.0% (FY ended 2025-12-31)
Forward P/E: Unavailable: no dated forecast source

Gloria daily close for session Oct 29, 2026. Market cap and trailing P/E use this close with the SEC share total and trailing diluted earnings, each dated next to its figure. Annual revenue, revenue growth, net income and margin show their own fiscal period and link the 10-K. Current context may postdate this article.

Coinbase Global, Inc. and its peers

Company	Price	Market cap	P/E (trailing)	Forward P/E	Annual revenue (USD)	Annual revenue growth	Annual net income (USD)	Operating margin
Coinbase Global, Inc. COIN · Price dated Oct 29, 2026 · tokenized COINx	$161	$42.5B	Not meaningfulLoss, diluted EPS −2.53 to 2026-09-30 · SEC filing	Unavailable	$7.2BFY ended 2025-12-31 · 10-K	+9.4%FY ended 2025-12-31 vs 2024-12-31 · 10-K	1,260,327,000FY ended 2025-12-31, attributable to the company · 10-K	20.0%FY ended 2025-12-31
Strategy Inc MSTR · Price dated Oct 29, 2026 · tokenized MSTRx	$142	Unavailable	Not meaningfulLoss, diluted EPS −96.98 to 2026-06-30 · SEC filing	Unavailable	$477.2MFY ended 2025-12-31 · 10-K	+3.0%FY ended 2025-12-31 vs 2024-12-31 · 10-K	−3,848,152,000FY ended 2025-12-31, attributable to the company · 10-K	−1,140.8%FY ended 2025-12-31
Circle Internet Group, Inc. CRCL · Price dated Oct 29, 2026 · tokenized CRCLx	$80	Unavailable	16.0	Unavailable	$2.7BFY ended 2025-12-31 · 10-K	+63.9%FY ended 2025-12-31 vs 2024-12-31 · 10-K	−69,508,000FY ended 2025-12-31, attributable to the company · 10-K	−3.5%FY ended 2025-12-31
Bitmine Immersion Technologies, Inc. BMNR · Price dated Oct 29, 2026 · tokenized BMNRx	$22	$13.1B	Not meaningfulLoss, diluted EPS −4.50 to 2026-05-31 · SEC filing	Unavailable	$6.1MFY ended 2025-08-31 · 10-K	+84.1%FY ended 2025-08-31 vs 2024-08-31 · 10-K	348,577,000FY ended 2025-08-31, attributable to the company · 10-K	7,288.1%FY ended 2025-08-31

Missing figures stay unavailable. Forward P/E requires a dated source. Annual revenue, revenue growth, net income and margin come from each company's own 10-K, in US dollars, and each row shows that fiscal year. Revenue growth compares the fiscal year with the prior year stated in the same 10-K. Net income is the full year amount attributable to the company, or available to common stockholders where the filing states only that, or consolidated net income. Each row names its basis. Trailing P/E reads "Not meaningful" when the dated trailing diluted EPS is a loss or zero. An operating margin appears only when the filing states both the operating income and the revenue for the same year.

Sources: SEC filings, Gloria daily closes and CoinGecko. Oldest record refresh: Oct 30, 2026, 8:51 AM EDT. Refresh is not a price or filing date. Each row shows its price date and its annual fiscal period. Peers use industry code and company size, or editorial selection. Market cap multiplies that row price by the company share total the latest SEC filing states for every share class together. Trailing P/E divides it by trailing diluted earnings from SEC filings. Rolled earnings per share are approximate because share counts can change between periods. Both appear only when the SEC data carries its date, so they are estimates at one price date, not synchronized filing valuations. Not investment advice.

Team Secret Whales just did something most analysts thought was deeply unlikely. The Vietnamese League of Legends squad eliminated TOP Esports, one of China’s most decorated organizations, in a best-of-five series at MSI 2026 in Daejeon, South Korea.

For context, TSW had just been swept 0-3 by Hanwha Life Esports in the upper bracket. Coming back through the lower bracket to knock out a team of TES’s caliber is the kind of narrative arc that makes esports compelling, and that makes prediction markets very interesting.

The upset and why it matters beyond the Rift

Team Secret Whales is a Vietnamese organization that was only established in December 2024. They qualified for MSI 2026 undefeated in LCP Split 2, representing the combined Vietnam, Southeast Asia, and Oceania region. Their jungler Hizto earned MVP honors for that split, and their roster of Pun, Hizto, Dire, Eddie, and Bie has quickly developed a reputation for punching above their weight class.

TOP Esports, meanwhile, carries the expectations that come with representing the LPL, China’s premier league. The MSI 2026 bracket stage runs from July 3 to 12.

Coinbase’s headline sponsorship and the prediction market angle

Coinbase is the headline sponsor of MSI 2026, and the partnership includes built-in prediction markets where fans can wager on match outcomes. Polymarket has also listed prediction markets related to the tournament, giving crypto-native users another venue to put their game knowledge to work.

Neither Team Secret Whales nor TOP Esports has any direct crypto sponsorships or associated tokens. TSW’s sponsors include traditional brands like Pulsar and VTVCab ONLive.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

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