Coinbase Q3 profit hits $719M as prediction markets top $200M

cryptonews10-30 19:47

Coinbase has reported a 35% annual decline in third-quarter revenue to $1.22 billion, even as net income rebounded to $719 million and its prediction markets business passed $200 million in annualized...

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Net income rose 66% from $433 million, ending three consecutive quarters of reported losses.Coinbase","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4516":"特朗普概念","09311":"南方两倍做空Coinbase-U","BK4535":"淡马锡持仓","CONI":"2倍做空COIN ETF-GraniteShares","LU1861558580.USD":"日兴方舟颠覆性创新基金B","FINX":"Global X FinTech ETF","COII":"REX COIN Growth& Income ETF","COYY":"GRANITESHARES YIELDBOOST COIN ETF","BK4596":"哈里斯概念","CONL":"2倍做多COIN ETF-GraniteShares","LU1861217088.USD":"贝莱德金融科技A2","07311":"南方两倍做空Coinbase","COIO":"2倍上限加速COIN ETF-Leverage Shares","COIA":"ProShares Ultra Coin ETF","BK4588":"碎股","BK4600":"加密货币概念","BK4112":"金融交易所和数据","LU1861220207.SGD":"Blackrock FinTech A2 SGD-H","CONX":"Direxion Daily COIN Bull 2X ETF","IBLC":"iShares Blockchain and Tech ETF","COIG":"2倍做多COIN ETF- Leverage Shares","CONY":"COIN期权收益策略ETF-YieldMax","BK4595":"比特币概念","COIW":"COIN周配息ETF-Roundhill","BK4551":"寇图资本持仓","CRPT":"First Trust SkyBridge Crypto Industry and Digital Economy ETF","09711":"南方两倍做多Coinbase-U","07711":"南方两倍做多Coinbase","BK4539":"次新股","COIX":"Corgi COIN 2x Daily ETF","BK4554":"元宇宙及AR概念","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","FIAT":"做空COIN期权收益策略ETF-YieldMax","LU2360107671.USD":"BGF FINTECH \"A4\" (USD) INC","FDIG":"Fidelity Crypto Industry and Digital Payments ETF","ICOI":"Bitwise COIN Option Income Strategy ETF","BK4585":"ETF&股票定投概念","BLCK":"Corgi Crypto Infrastructure ETF","BKCH":"AdvisorShares Sabretooth ETF","COIN":"Coinbase Global, Inc."},"translate_title":"Coinbase 第三季度利润达到 7.19 亿美元，预测市场突破 2 亿美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CONY":0.6,"09311":0.6,"07311":0.6,"COYY":0.6,"COIA":0.6,"09711":0.6,"COIX":0.6,"IBLC":0.6,"BKCH":0.6,"CONL":0.6,"FDIG":0.6,"BLCK":0.6,"COIO":0.6,"CONI":0.6,"CONX":0.6,"COIN":1.99,"ICOI":0.6,"COIW":0.6,"FIAT":0.6,"FINX":0.6,"CRPT":0.6,"07711":0.6,"COIG":0.6,"COII":0.6},"content_text":"Coinbase has reported a 35% annual decline in third-quarter revenue to $1.22 billion, even as net income rebounded to $719 million and its prediction markets business passed $200 million in annualized revenue.\n\n\nSummary\n\n\n\nCoinbase reported $1.22 billion in third-quarter revenue, down 35% from the same period in 2025.\nNet income reached $719 million, although unrealized cryptocurrency investment gains accounted for $715 million.\nPrediction markets exceeded $200 million in annualized revenue, with daily traders growing more than 60% during the quarter.\nCoinbase’s cryptocurrency trading market share rose to 10.7%, its fourth consecutive quarterly gain.\nAverage USDC holdings reached a record $22 billion, while paid Coinbase One subscribers grew 24% year over year.\n\n\n\nRevenue fell from $1.87 billion a year earlier as cryptocurrency trading remained subdued, according to the company’s October 29 earnings release. Net income rose 66% from $433 million, ending three consecutive quarters of reported losses.\nHowever, much of the profit came from a $715 million unrealized gain on cryptocurrency investments. Excluding investment-related gains and other adjustments, Coinbase recorded adjusted net income of $78 million, while diluted earnings per share reached $2.51.\nCoinbase earnings show weaker trading revenue\nTransaction revenue fell 44% from a year earlier to $590 million, as lower spot trading activity weighed on the exchange’s core business. Subscription and services revenue declined 20% to $570 million.\n\nQ3 highlights ↓https://t.co/XpoLunK9WI— Coinbase 🛡️ (@coinbase) October 29, 2026\n\nDespite those annual declines, subscription and services revenue grew 3% from the second quarter and accounted for 49% of net revenue.\nCoinbase’s adjusted earnings before interest, taxes, depreciation and amortization reached $333 million, up 60% from the preceding quarter. The company has now recorded positive adjusted EBITDA for 15 consecutive quarters.\nThe annual comparison paints a different picture. Adjusted EBITDA fell 58% from $801 million in the third quarter of 2025, while operating income dropped from $481 million to $62 million.\nDuring the earnings presentation, Chief Financial Officer Alesia Haas said cryptocurrency trading volumes across the market fell 10% during the quarter. Activity improved in September, when the total cryptocurrency market capitalization rose 37% from the end of June.\nPrediction markets reach $200 million annualized revenue\nCoinbase’s prediction markets business emerged as one of its fastest-growing products, passing $200 million in annualized revenue during the quarter.\nThe figure represents revenue expressed at a yearly rate, not revenue already earned over 12 months. Coinbase said the business had recorded 82% compound quarterly revenue growth since launch, while daily traders increased more than 60% from the previous quarter.\nIn July, crypto.news examined the rapid growth of the exchange’s prediction markets after annualized revenue reached $100 million within two months.\nBy the third quarter, the company said customers trading prediction contracts were generating extra spot trading volume, providing another source of activity beyond conventional cryptocurrency purchases.\n\n“Prediction markets have been one of the fastest-growing products in Coinbase history,” CEO Brian Armstrong said, noting that cryptocurrency-linked contracts supported activity during slower sports months.\n\nHaas described prediction markets as a revenue source less closely tied to cryptocurrency price volatility.\nCoinbase market share climbs as USDC holdings reach record\nAlthough trading revenue declined, Coinbase reported a 10.7% share of global cryptocurrency trading volume, supported by gains in spot and derivatives markets.\nThe figure represented its fourth consecutive quarter of market share growth. Cryptocurrency derivatives volume recorded compound annual growth of 179% over the previous two years, according to the company.\nCoinbase’s share of cryptocurrency assets held on its platform returned to 12.5% of the total market capitalization.\nAverage USDC held in Coinbase products reached a record $22 billion, up 49% year over year. The company said this represented close to 30% of average USDC market capitalization during the quarter.\nPaid Coinbase One subscribers reached another record, growing 24% from a year earlier. Those subscribers generated 3.5 times the average revenue per user and held 4.2 times the balances of other customers, according to company figures.\nThe average daily loan book balance increased 74% over the same period.\nTokenized stock trading on Base crosses $1 billion\nCoinbase continued expanding beyond cryptocurrency spot trading, reporting more than $1 billion in cumulative tokenized stock trading volume on its Base network since launch.\nIts tokenized stock rollout began in August with products linked to Apple, Nvidia, Meta and Alphabet, backed by underlying shares through a custody arrangement.\nIn September, six additional stock tokens joined the initial offering, including securities linked to Amazon, Microsoft and Tesla. The products remain restricted to eligible investors outside the United States.\nThe exchange’s stock tokens have since gained uses beyond trading. Morpho introduced USDC lending markets for five of the assets, allowing eligible holders to pledge tokenized equities as collateral.\nCoinbase said its quarterly average USDC holdings had now reached record levels for 14 consecutive quarters, while tokenized stock activity continued growing across Base.\n\n\n\n\n\n                Read more:\n            \n\n                CZ fires back at Elon Musk over Binance hack jokes, cites $1B SpaceX stake","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.52.1","shortVersion":"4.52.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2679216783","isCrawlerRequest":true}