Coinbase Beats Q3 Forecasts as Transaction Revenue Jumps to $1 Billion

Coinbase reported $1.9 billion in revenue for Q3, surpassing analysts' expectations of $1.8 billion. This figure represents a 26% increase from the previous quarter and a 50% rise year-over-year. The company also posted a profit of $433 million, down from $1.4 billion in the previous quarter but significantly up from $75 million a year earlier. Transaction revenue specifically saw a 37% quarter-over-quarter increase, reaching $1 billion. Coinbase has also diversified its revenue streams, including earnings from stablecoin services and blockchain rewards. Recently, Coinbase indicated its interest in exploring a token for its Ethereum layer-2 network, Base, and has highlighted user growth and stablecoin adoption within its ecosystem. Analyst predictions suggest that a properly launched token could significantly increase Coinbase's market capitalization, potentially adding $12 billion in value. This news comes amid a broader interest in digital asset payment capabilities and increasing market activity in the cryptocurrency space.

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