Coinbase Global, Inc. (Coinbase) reported a significant increase in financial performance for the third quarter of 2024. The company generated $1.1 billion in net revenue and $75.5 million in net income for the quarter, marking substantial growth compared to the same period in the previous year. This performance was driven by a 143% increase in trading volume, reaching $185 billion, and a 16% rise in Monthly Transacting Users (MTUs) to 7.8 million. Adjusted EBITDA also saw a significant rise to $449 million, up 152% from the previous year. The company's strategic investments in related parties grew to $3.5 million for the quarter, indicating a focus on expanding business relationships and product offerings. Looking ahead, Coinbase has authorized a share repurchase program of up to $1.0 billion of its Class A...Show More

Coinbase Global, Inc. (Coinbase) reported a significant increase in financial performance for the third quarter of 2024. The company generated $1.1 billion in net revenue and $75.5 million in net income for the quarter, marking substantial growth compared to the same period in the previous year. This performance was driven by a 143% increase in trading volume, reaching $185 billion, and a 16% rise in Monthly Transacting Users (MTUs) to 7.8 million. Adjusted EBITDA also saw a significant rise to $449 million, up 152% from the previous year. The company's strategic investments in related parties grew to $3.5 million for the quarter, indicating a focus on expanding business relationships and product offerings. Looking ahead, Coinbase has authorized a share repurchase program of up to $1.0 billion of its Class A common stock, reflecting confidence in its financial stability and future growth prospects. The company continues to diversify revenue streams and drive crypto utility through new products, international expansion, and deeper integration of USDC into the cryptoeconomy. With these developments, Coinbase is well-positioned to navigate various macroeconomic environments and advance regulatory clarity in the industry.