Coinbase Reports Positive Q3 2024 Earnings
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Coinbase Reports Positive Q3 2024 Earnings

Coinbase Global, Inc. ( (COIN) ) has realeased its Q3 earnings. Here is a breakdown of the information Coinbase Global, Inc. presented to its investors.

Coinbase Global, Inc. is a leading cryptocurrency exchange platform that offers digital currency trading and financial services globally, with a focus on driving crypto utility and revenue while navigating regulatory frameworks. In its third quarter of 2024, Coinbase reported total revenue of $1.2 billion and a net income of $75 million, marking its seventh consecutive quarter of positive adjusted EBITDA. The company made significant strides in product development, notably integrating stablecoins across its platforms and enhancing its Base network, which led to notable transaction growth. Key financial metrics include a 17% quarter-over-quarter decrease in total revenue to $1.2 billion, with transaction revenue down 27% and subscription and services revenue declining 7% due to lower crypto asset prices. Operating expenses were reduced by 6%, and the company ended the quarter with $8.2 billion in USD resources. Looking forward, Coinbase remains optimistic about pro-crypto legislation prospects post-2024 elections and continues to focus on revenue growth through international expansion and product innovation.

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