Coinbase Surpasses Q3 Revenue Expectations, Reports $674 Million in Earnings

Coinbase exceeded its revenue projections by reporting $674 million in Q3, surpassing analysts’ earlier estimates. The figure surged by 14.2% year-on-year but was down by 4.8% quarter-on-quarter.

Coinbase’s Q3 total transaction revenue amounted to $289 million, marking a 12% decline compared to the previous quarter. This reduction in transaction revenue was primarily a result of a 17% decrease in total trading volume during the period, although it was partially offset by higher realized fees resulting from changes in trading activity on the crypto exchange during the quarter.

Institutional transaction revenue amounted to $14 million in Q3, representing an 18% decrease from the previous quarter. Institutional trading volume for the same period was $65 billion, marking a 17% decrease and also surpassing the performance of the US spot market.

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