Coinbase Q3 Net Income Up 475% to $433M on Trading Boom and Crypto Volatility

Coinbase Q3 net income surged 475% to $433 million, beating Wall Street forecasts. Total net revenue climbed to $1.8 billion as trading volumes boomed to $295 billion and assets on the platform reached $516 billion, with $300 billion under custody. Transaction revenue rose to $1.05 billion, while subscription and services revenue grew 34.3% to $747 million. Adjusted EBITDA hit $801 million and adjusted EPS was $1.50, up from $0.28 a year earlier. The exchange completed its Deribit acquisition and launched 24/7 perpetual contracts, driving derivatives volume to $840 billion. Stablecoin revenue, led by USDC, grew to $355 million as USDC market cap reached $74 billion. Shares jumped over 3% in after-hours trading. The strong Coinbase Q3 net income performance underscores how crypto volatility and a trading boom can boost exchange revenues and investor engagement.