Coinbase Reports $433M Q3 Profit, 14,548 BTC

Coinbase reported stronger-than-expected Q3 2025 results, with net income of about $433–$437 million and revenue of roughly $1.87–$1.9 billion. Transaction revenue was about $1.04–$1.05 billion and trading volumes totaled $295 billion, driven by heightened crypto volatility and institutional demand. The company added roughly $299 million (about 2,772 BTC) during the quarter, bringing its bitcoin holdings to approximately 14,548 BTC, and said stablecoin (USDC) adoption and related revenue hit record levels. Coinbase closed its Deribit acquisition, launched U.S. perpetuals and 24/7 futures as it accelerates its derivatives push, and said it is advancing its “Everything Exchange” strategy with tokenized assets, bank partnerships and a national trust charter application. Operating expenses rose year‑over‑year, but shares climbed in after‑hours trading and analysts said the company appears better positioned amid improving regulatory clarity and strong institutional momentum.