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Evening wrap · October 29, 2026

Coinbase Posts $719M Q3 Net Income as Prediction Markets Boom

Coinbase reported $719 million in Q3 net income as its prediction markets surged, while Deribit braces for an $11 billion Bitcoin options expiry.

  1. 1

    Coinbase Reaches $719M Net Income on Subscription Growth

    The exchange reported Q3 2026 net income of $719 million and adjusted EBITDA of $333 million [1]. Prediction markets passed a $200 million annualized revenue run rate, compounding at 82% quarterly [1]. Subscription and services drove 49% of net revenue as aver

  2. 2

    Deribit Braces for $11 Billion Bitcoin Options Expiry

    About $11 billion in $BTC options covering 135,000 Bitcoin expire Friday on Deribit [3]. The open interest features a 0.52 put-to-call ratio and max pain at $78,000, with 86% of contracts out of the money [3]. The expiry follows a 10-2 vote by the Federal Rese

  3. 3

    Malicious Script Injection Drains Polymarket User Assets

    Researchers found a wallet-draining JavaScript payload loaded into Polymarket via a third-party DebugBear integration on Oct. 29 [2]. The script hijacked active trading signers to liquidate positions, with one user losing $800,000 [2]. Polymarket removed the c

  4. 4

    Tether to Issue Native USD₮ on Bitcoin via RGB Protocol

    Tether plans to launch $USDT on the client-side asset issuance protocol RGB [6]. The protocol recently activated on the Bitcoin mainnet with its 0.11.1 release, supporting private transfers and offline stablecoin payments [6].

  5. 5

    French Senate Advances Cross-Border Crypto Tax Sharing Bill

    The French Senate approved a bill adopting the OECD's Crypto-Asset Reporting Framework, advancing it to the National Assembly [4]. The European Commission intends to build a central repository for cross-border DAC8 crypto tax filings by late 2026 [4].

Numbers

Bitcoin dropped 3% to $78,803, Solana fell 6% to $96.22, and the total market cap declined 2.5% to $2.62 trillion.

Watch

Coinbase's Q4 volume trajectory across prediction and derivatives markets following its Oct. 29 Form 10-Q filing. · An official incident post-mortem from Polymarket detailing the drained funds and initial access vector. · The Dec. 8–9 Federal Reserve policy meeting and the subsequent 135,500 BTC options expiry on Dec. 25.

Full text

Coinbase reported $719 million in Q3 net income as its prediction markets surged, while Deribit braces for an $11 billion Bitcoin options expiry.

  1. Coinbase Reaches $719M Net Income on Subscription Growth The exchange reported Q3 2026 net income of $719 million and adjusted EBITDA of $333 million. Prediction markets passed a $200 million annualized revenue run rate, compounding at 82% quarterly. Subscription and services drove 49% of net revenue as average USDC balances hit an all-time high of $22 billion.

  2. Deribit Braces for $11 Billion Bitcoin Options Expiry About $11 billion in BTC options covering 135,000 Bitcoin expire Friday on Deribit. The open interest features a 0.52 put-to-call ratio and max pain at $78,000, with 86% of contracts out of the money. The expiry follows a 10-2 vote by the Federal Reserve on Wednesday to hold interest rates between 3.75% and 4%.

  3. Malicious Script Injection Drains Polymarket User Assets Researchers found a wallet-draining JavaScript payload loaded into Polymarket via a third-party DebugBear integration on Oct. 29. The script hijacked active trading signers to liquidate positions, with one user losing $800,000. Polymarket removed the code at 17:59:20 UTC.

  4. Tether to Issue Native USD₮ on Bitcoin via RGB Protocol Tether plans to launch USDT on the client-side asset issuance protocol RGB. The protocol recently activated on the Bitcoin mainnet with its 0.11.1 release, supporting private transfers and offline stablecoin payments.

  5. French Senate Advances Cross-Border Crypto Tax Sharing Bill The French Senate approved a bill adopting the OECD's Crypto-Asset Reporting Framework, advancing it to the National Assembly. The European Commission intends to build a central repository for cross-border DAC8 crypto tax filings by late 2026.

Numbers Bitcoin dropped 3% to $78,803, Solana fell 6% to $96.22, and the total market cap declined 2.5% to $2.62 trillion.

Watch

  • Coinbase's Q4 volume trajectory across prediction and derivatives markets following its Oct. 29 Form 10-Q filing.
  • An official incident post-mortem from Polymarket detailing the drained funds and initial access vector.
  • The Dec. 8–9 Federal Reserve policy meeting and the subsequent 135,500 BTC options expiry on Dec. 25.

Basis Desk Newsroom · AI-generated, source-verified. Built only from stories already verified and published on Basis Desk; market figures as of publication. Not financial advice.