Coinbase Transaction Revenue Tops Services by Just $20 Million

Coinbase’s transaction revenue narrowly exceeded subscription and services revenue in the third quarter, underscoring how much the exchange earns from businesses beyond customer trades. For the three months ended Sept. 30, Coinbase recorded $590.2 million in transaction revenue and $570.2 million in subscription and services revenue. Together, the categories made up $1.16 billion in net revenue, with transactions accounting for 51% and subscriptions and services 49%. Coinbase’s total revenue was $1.22 billion, including a separate $55.1 million in other revenue.