Coinbase Global (NASDAQ: COIN) reported third-quarter results that surpassed Wall Street expectations, fueled by higher trading volumes and growing institutional demand. The exchange also deepened its exposure to bitcoin, adding 2,772 BTC worth $299 million through weekly purchases in Q3, bringing its total holdings to 14,548 BTC.

For the quarter ending September 30, Coinbase posted net income of $432.6 million, or $1.50 per share, compared with $75.5 million, or $0.28 per share, a year earlier. Analysts had expected earnings of about $1.10 per share. Total revenue reached $1.87 billion, up from $1.21 billion last year, supported by a 37% quarter-over-quarter jump in transaction revenue to $1.05 billion.

Trading activity surged across both retail and institutional segments. Consumer trading volume rose 37% to $59 billion, while institutional volume climbed 22% to $236 billion, generating $135 million in institutional transaction revenue, a 122% increase from the prior quarter.

Coinbase’s acquisition of derivatives exchange Deribit also bolstered its position in the crypto derivatives market, an area where it has historically lagged competitors.

CEO Brian Armstrong emphasized that Coinbase’s strategy now extends beyond crypto trading to its broader vision of becoming an “everything exchange,” integrating tokenized equities, prediction markets, and on-chain financial instruments.

Armstrong said:

We believe every asset class is coming on-chain. Our expansion into bitcoin accumulation and diversified asset trading is part of building the financial infrastructure for the next generation of markets.

FAQ💰

• What drove Coinbase’s strong Q3 performance?
  Higher crypto trading activity and growing institutional participation boosted Coinbase’s Q3 profits and revenue.
• How much bitcoin did Coinbase add in Q3?
  Coinbase purchased 2,772 BTC worth $299 million, raising its total holdings to 14,548 BTC.
• How did trading volumes perform?
  Retail trading rose 37% to $59 billion, while institutional volume climbed 22% to $236 billion, fueling revenue growth.
• What’s Coinbase’s long-term strategy?
  The company aims to evolve into an “everything exchange,” bridging crypto, tokenized assets, and on-chain finance.

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