Coinbase Q3 Profit Driven by Crypto Gains and Prediction Markets

Community Trust Score Verified 97 % Real Verified 31 votes Updated 42 minutes ago Coinbase reported a $719 million profit for the third quarter, a result driven primarily by gains on its cryptocurrency investment portfolio and rapid expansion in its prediction market business. The exchange released its earnings on Oct. 29, showing total revenue of $1.216 billion, a figure that remained largely unchanged from the previous quarter but declined 35% compared to the same period last year. While traditional crypto spot trading volumes fell 8% to $134.5 billion, Coinbase’s prediction market segment emerged as a key growth driver.

Source: The Currency Analytics