Coinbase Reports $719M in Q3 Profit, Mostly From Investment Gains

That mix makes the headline profit figure much larger than Coinbase’s adjusted earnings measure. Coinbase recorded $715.022 million in net gains on crypto assets held for investment. Adjusted net income was $77.7 million after excluding those gains and other adjustments. Alesia Haas, Coinbase’s CFO, said, “Quarterly net income was $719 million, driven largely by unrealized gains on crypto assets that we hold for investment.” Net revenue was $1.160 billion, down from $1.763 billion a year earlier. Transaction revenue fell 44% to $590.2 million.

Source: TokenPost