Coinbase $COIN reports huge Q3 2026 profits? Don’t celebrate just yet!
The exchange reported net income of $719 million, ending its streak of losses. Sounds good, but $715 million of that came from unrealized gains on its crypto investments.
That means actual profits from its core business were just $78 million. This is a clear sign that Coinbase is benefiting from the market rally, rather than from internal growth.
Still, there is one bright spot: its prediction markets business is growing incredibly fast. Annual revenue has topped $200 million, and the number of daily traders is up more than 60%.
So, is $COIN really on solid footing, or is it just riding the market wave? What do you think the future holds for them?
#Crypto #Coinbase
$COIN
The exchange reported net income of $719 million, ending its streak of losses. Sounds good, but $715 million of that came from unrealized gains on its crypto investments.
That means actual profits from its core business were just $78 million. This is a clear sign that Coinbase is benefiting from the market rally, rather than from internal growth.
Still, there is one bright spot: its prediction markets business is growing incredibly fast. Annual revenue has topped $200 million, and the number of daily traders is up more than 60%.
So, is $COIN really on solid footing, or is it just riding the market wave? What do you think the future holds for them?
#Crypto #Coinbase
$COIN