Overview
- Coinbase reported Thursday a $719 million net income for the third quarter, and about $715 million of that came from gains on crypto assets the company holds.
- Total Q3 revenue was roughly $1.22 billion with transaction revenue at $590 million and subscription and services at $570 million, creating an almost even split between the two main lines.
- The company guided Q4 subscription and services revenue to $550 million–$630 million, reflecting reliance on USDC balances and staking rates that remain sensitive to market moves.
- On Base, Coinbase’s layer‑2 network, tokenized US equity tokens have surpassed $4 billion in cumulative DEX volume and the Shopify–Coinbase Commerce Payments Protocol has handled about 448,000 payments and $42.1 million in settled volume.
- Coinbase filed for a Brazil VASP license days before the October 30 deadline and said it expects to keep serving Brazilian customers while the central bank reviews its application.