Coinbase Reports $719M Profit Despite Revenue Decline in Q3

Coinbase recorded $1.22 billion in Q3 revenue, down 35% year over year, while net income increased 66% to $719 million. Coinbase's crypto trading market share reached 10.7%, while assets on its platform represented 12.5% of total crypto market capitalization. Prediction markets surpassed $200 million in annualized revenue, while subscription and services generated 49% of net revenue. Coinbase reported $1.22 billion in third-quarter revenue, down 35% year over year, while net income climbed 66% to $719 million. The October 31 earnings report ended three consecutive quarters of losses.