Coinbase Surges Past Expectations with $674M Revenue in Q3

Coinbase Surges Past Expectations with $674M Revenue in Q3



Coinbase reported an impressive $674 million in revenue for the third quarter, beating what analysts had predicted. This represented a year-on-year increase of 14.2%, even though there was a slight 4.8% dip from the previous quarter.



In that quarter, the crypto powerhouse headquartered in San Francisco brought in $288.6 million from transactions and $334.4 million from services and subscriptions. However, the company did face a net loss of $2 million.



The earnings report also highlighted that Coinbase's balance sheet boasted over $5.5 billion in U.S. dollar assets, a modest climb of $20 million from the previous quarter. Here, "USD assets" include cash, equivalents, USDC, and any extra funds in custodial accounts.



Continuing a trend from the last quarter, the company saw a larger drop in advanced trading volumes as opposed to


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