Coinbase Q3 profit surges to $719M as crypto gains offset trading slump

Community Trust Score Verified 88 % Real Verified 41 votes Updated 6 minutes ago Coinbase reported a $719 million net profit for the third quarter, reversing a $359 million loss in the previous period. The earnings, released on Oct. 29, were primarily driven by approximately $715 million in gains on cryptocurrency assets held for investment, which offset significant declines in core trading revenue. Total revenue for the quarter stood at $1.216 billion, a figure that remained largely unchanged from the second quarter but fell 35% compared to the same period last year.