Coinbase made $719M in Q3, but 99% of it was unrealized crypto gains.
The real business tells a different story:
• Transaction revenue fell 44%
• Adjusted net income was just $78M
(via COINOTAG)
Headline profit looks great, yet the core trading engine is slowing as volumes dry up. Earnings that ride on mark-to-market gains swing both ways when prices drop.
Watch whether stablecoin, payments and prediction-market revenue can offset weaker trading.
Which matters more for $COIN : unrealized gains or transaction revenue?
$BTC $ETH #Coinbase #CryptoEarnings #Bitcoin
Not financial advice.
The real business tells a different story:
• Transaction revenue fell 44%
• Adjusted net income was just $78M
(via COINOTAG)
Headline profit looks great, yet the core trading engine is slowing as volumes dry up. Earnings that ride on mark-to-market gains swing both ways when prices drop.
Watch whether stablecoin, payments and prediction-market revenue can offset weaker trading.
Which matters more for $COIN : unrealized gains or transaction revenue?
$BTC $ETH #Coinbase #CryptoEarnings #Bitcoin
Not financial advice.