Coinbase Q3 Earnings Report: Net income of $433 million, total revenue of $1.9 billion, and an increase of $299 million in Bitcoin holdings.

Cryptocurrency exchange Coinbase reported net revenue of $433 million in the third quarter. Total revenue increased 25% quarter-over-quarter to $1.9 billion. During the quarter, Coinbase increased its Bitcoin holdings by $299 million through weekly purchases, currently holding 14,548 Bitcoins. As of September 30, its fair market value of investable crypto assets was $2.6 billion (of which $1.6 billion was Bitcoin), with an additional $1 billion in crypto assets held as collateral. Including crypto assets, Coinbase's total available resources reached $15.5 billion. Trading revenue for the quarter was $1 billion, a 37% increase from the previous quarter, but still significantly lower than at the beginning of the year. Coinbase's trading revenue is projected to reach $1.6 billion in the fourth quarter of 2024 and $1.3 billion in the first quarter of 2025. This trend indicates that despite rising Bitcoin prices and increased market activity,