5 thoughts on “Coinbase Reports Strong Q3 Results Despite Decline in Transaction Revenue”
tldr; Coinbase, a leading cryptocurrency exchange, has reported better-than-expected results for Q3 2023, despite a decline in transaction revenue. The company’s revenue for the quarter was $674.1 million, a 14.2% increase from the same period last year. One highlight is the rebound of its USDC stablecoin interest income, which increased to $172 million. However, Coinbase posted a net loss of $2 million for the quarter. The company remains optimistic about its future performance and expects to generate positive Adjusted EBITDA for the full year. Coinbase has also launched crypto futures trading for eligible retail U.S. customers and continues to face regulatory challenges with the SEC.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Coinbase, a leading cryptocurrency exchange, has reported better-than-expected results for Q3 2023, despite a decline in transaction revenue. The company’s revenue for the quarter was $674.1 million, a 14.2% increase from the same period last year. One highlight is the rebound of its USDC stablecoin interest income, which increased to $172 million. However, Coinbase posted a net loss of $2 million for the quarter. The company remains optimistic about its future performance and expects to generate positive Adjusted EBITDA for the full year. Coinbase has also launched crypto futures trading for eligible retail U.S. customers and continues to face regulatory challenges with the SEC.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Coinbase stock might be a good proxy to buy as a crypto fund. The next bull run would be good for them!
Coinbase shares to the moon?
So how did they get strong results if transaction revenue declined?
Crypto stocks are a huge bet for me. BBKCF and BTCS. BKKT another option