Coinbase Stock Slides 5% as Binance Hack Overshadows Q3 Earnings

Key Insights Coinbase stock fell 4.74% after hours to $152.98 as investors assessed the Binance security incident. Coinbase reported $1.2 billion in quarterly revenue and $719 million in net income, largely supported by investment gains. Prediction markets surpassed $200 million in annualized revenue as Coinbase expanded its everything-exchange strategy. Coinbase stock fell nearly 5% in after-hours trading as the Binance security incident overshadowed its third-quarter earnings. COIN dropped to $152.98 after closing regular trading at $160.59 on October 29. The selloff coincided with broader cryptocurrency market weakness and concerns about exchange security.