Coinbase Returns to Profit With $719 Million in Q3 Net Income as USDC Holdings

Coinbase returns to profit with $719 million in Q3 net income as USDC holdings hit $22 billion and crypto trading share reaches 10.7%. Coinbase returned to profitability in the third quarter, reporting $719 million in net income as its adjusted EBITDA climbed 60% from the previous quarter to $333 million. The results were accompanied by record USDC holdings on the platform and a fourth consecutive quarterly increase in its share of cryptocurrency trading volume, according to information shared by Coin Bureau. The figures point to several areas of growth for Coinbase, including profitability, stablecoin balances and trading activity. The company also reported significant momentum in prediction markets, which are on pace to generate more than $200 million in annual revenue. Coinbase Reports $719 Million in Quarterly Net Income Coinbase's $719 million in third-quarter net income markets a return to profit. Its adjusted EBITDA, a measure of operating performance before interest, taxes, depreciation and amortization, increased 60% in a single quarter to $333 million. The adjusted EBITDA result also marked the company's 15th consecutive positive quarter, according to the figures shared by Coin Bureau. The reported streak highlights the continued generation of positive adjusted EBITDA across consecutive quarters, although the figures provided do not specify the individual results for each period. Prediction Markets Approach $200 Million in Annual Revenue Prediction markets are emerging as another growth area for Coinbase. The product category is now on pace to generate more than $200 million in yearly revenue, making it one of the fastest-growing products in the company's history. The reported revenue pace underscores the scale of the opportunity Coinbase is pursuing beyond its established cryptocurrency trading business. However, the available figures do not provide a breakdown of prediction-market revenue or specify how much the product contributed to the company's third-quarter net income. USDC Holdings Reach a Record $22 Billion Coinbase also reported a record $22 billion in average USDC held on its platform. That figure was up 49% from the same period a year earlier, indicating a substantial increase in the average amount of the stablecoin maintained by customers on the exchange. USDC is a stablecoin issued by Circle. The record reported by Coinbase refers specifically to the average amount held on its platform, rather than the total amount of USDC circulating across all cryptocurrency markets. Coinbase's Share of Crypto Trading Volume Rises Again Coinbase's share of cryptocurrency trading volume increased for a fourth consecutive quarter, reaching 10.7%. The latest rise extends a multi-quarter trend in the company's share of trading activity. Together, the reported figures cover several aspects of Coinbase's business: $719 million in third-quarter net income, $333 million in adjusted EBITDA, prediction markets on pace for more than $200 million in annual revenue, record average USDC holdings of $22 billion and a 10.7% share of crypto trading volume. Coin Bureau was the source of the reported figures. The information provided did not specify the third quarter's calendar year or include further details about the individual revenue contributions of Coinbase's products. Technology & Blockchain Writer Victoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy. She prioritises clarity and accuracy when explaining technical developments to a general audience. Check out other news and articles on Google News Disclaimer: The articles on Hokanews are here to keep you updated on the latest buzz in crypto, tech, and beyond—but they're not financial advice. We're sharing info, trends, and insights, not telling you to buy, sell, or invest. Always do your own homework before making any money moves. Hokanews isn't responsible for any losses, gains, or chaos that might happen if you act on what you read here. Investment decisions should come from your own research—and, ideally, guidance from a qualified financial advisor. Remember: crypto and tech move fast, info changes in a blink, and while we aim for accuracy, we can't promise it's 100% complete or up-to-date. Stay curious, stay safe, and enjoy the ride! hoka.news