Coinbase reports $719 million Q3 2026 profit driven by crypto gains
CIE News ·
Based on reporting by Decrypt; not yet independently confirmed.
Coinbase generated $719 million in Q3 2026 net income, ending a two-quarter loss streak, while holding $1.22 billion in revenue as corporate crypto gains provided most of the profit, Decrypt reported.
Coinbase posted third-quarter 2026 net income of $719 million, or $2.51 per diluted share, on October 29, ending a two-quarter losing streak, Decrypt reported. Around $715 million of the total profit stemmed from gains on crypto assets held on the exchange's balance sheet, leaving adjusted net income at $78 million. Net revenue totaled $1.22 billion, which was unchanged from the second quarter but down 35% compared to the prior year.
Transaction revenue fell 1% quarter-over-quarter to $590 million, while subscription and services revenue increased 3% to $570 million, driven by $307 million from stablecoins, Decrypt reported. Prediction markets reached more than $200 million in annualized revenue, with daily traders up over 60% compared to the second quarter. Average USDC balances held across Coinbase products reached a record $22 billion.
Coinbase also lowered its 2026 adjusted expense guidance by $100 million at the midpoint to a range of $4.15 billion to $4.3 billion, according to Decrypt. Adjusted EBITDA increased 60% from the preceding quarter to $333 million, while fourth-quarter transaction revenue reached about $165 million through October 25.
Key facts
- $719M Q3 net income
- $1.22B Q3 revenue
- $715M balance sheet crypto gains
- Expense guidance cut by $100M