Coinbase Swings to $719 Million Q3 Profit on Crypto Gains
The exchange reported a quarterly profit supported by gains on crypto holdings, while transaction revenue declined from a year earlier.
TL;DR
- Coinbase reported $719 million in 3rd-quarter net income, according to Decrypt.
- About $715 million came from gains on crypto held for investment, while adjusted net income was $78 million.
- Reuters reported that transaction revenue fell from the prior year, underscoring differences between investment gains and trading activity.
Coinbase reported 3rd-quarter net income of $719 million on 2026-10-29, Decrypt said. Reuters reported the result as $718.7 million and described the exchange as returning to profitability. [1] [2]
Decrypt reported that about $715 million came from gains on crypto held for investment. It said adjusted net income was $78 million after excluding those and other investment gains. [1]
Reuters reported transaction revenue of $590.2 million, down 43% from $1.05 billion a year earlier. It also reported that operating expenses declined from the previous year. [2]
Decrypt reported $1.22 billion in total revenue, down 35% from a year earlier. The quarter's investment gains and reported revenue mix do not establish how future earnings will develop. [1] [2]
Why it matters
The results distinguish the exchange's trading revenue from gains on assets it holds, a material difference when interpreting a crypto company's earnings.
Editor's note
Decrypt rounds net income to $719 million; Reuters reports $718.7 million. The reports disagree on the number of preceding loss-making quarters, so that count is omitted.