Coinbase Q3 Profits Soar 472%, Acquires 2,772 BTC
Coinbase reported Q3 revenue of $1.9 billion, up 55% YoY, and net income of $432.6 million, a 472% surge. Institutional clients accounted for 80% of $295 billion trading volume, while assets under custody exceeded $300 billion. The exchange boosted its Bitcoin holdings by 2,772 BTC to 14,548 BTC (approx. $1.6 billion) and saw subscription & services revenue, including USDC income and blockchain rewards, rise 34% to $746.7 million. CEO Brian Armstrong highlighted progress on the “Everything Exchange” roadmap—expanding spot and derivatives, trialing tokenized stocks and early token sales—and noted growing adoption of its Base layer-2 network. Robust earnings, strategic BTC accumulation, and USDC payment partnerships signal bullish momentum in crypto markets.
Bullish
Coinbase’s record Q3 profits, strong institutional trading volumes, and strategic accumulation of 2,772 BTC underscore robust demand and confidence in Bitcoin. The rise in USDC revenues and the expansion of its Base layer-2 network further support positive market sentiment. In the short term, these results may attract more institutional investment and trading activity, potentially driving Bitcoin prices higher. Over the long term, Coinbase’s progress on the “Everything Exchange” vision and growing USDC use cases—such as the Coinbase One Card—could enhance platform liquidity and adoption, sustaining a bullish outlook for Bitcoin and crypto markets.