Skip to content
$BTC$79,160−2.6%$ETH$2,277−3.7%$SOL$97.52−5.1%$XRP$1.26−5.5%$TON$1.18−5.1%MCap$2.67T−1.0%BTC.D59.5%Fear&Greed51 NeutralGas36 gwei·2.2 sat/vBNews mood19% bullish
Basis Desk

New from Basis Desk: free Telegram proxies for places where Telegram is blocked or slowed down.Connect in one tap →

Institutions & ETFs · 1 min read

Coinbase Q3 Net Income Reaches $719M as Prediction Markets Pass $200M Run Rate

The exchange grew trading market share to 10.7% while subscription and services generated 49% of net revenue.

Editorial oversight: Julian Mercer, Chief Editor
Bullish
$USDC $1.00 0.0% $BTC $79,160 −2.6% $ETH $2,277 −3.7%

At a glance

What happened
Coinbase reported Q3 2026 net income of $719 million and $333 million in adjusted EBITDA, supported by prediction markets surpassing $200 million in annualized revenue.
Why it matters
Subscription and services accounted for 49% of net revenue, showing durable diversification away from reliance on spot crypto transaction fees.
Who is affected
Coinbase shareholders, institutional and retail traders, and USDC ecosystem participants.
What's next
Management is holding an investor Q&A session on Oct. 29, 2026.
Primary source
investor.coinbase.com: Coinbase Q3 2026 Earnings Show All-time-high Coinbase One Subscribers and Prediction Markets Surpassing $200 Million in Annualized Revenue

Key points

  • Coinbase posted Q3 2026 net income of $719 million and adjusted EBITDA of $333 million, up 60% from the prior quarter.
  • The exchange's prediction markets product surpassed $200 million in annualized revenue, compounding at 82% quarterly since launch.
  • Subscription and services generated 49% of net revenue as average USDC held in Coinbase products reached an all-time high of $22 billion.

Coinbase Global reported third-quarter net income of $719 million and adjusted earnings before interest, taxes, depreciation, and amortization of $333 million on Oct. 29 1. The exchange's adjusted EBITDA rose 60% quarter over quarter, marking its 15th straight quarter of positive adjusted EBITDA amid softer market conditions 1.

The company expanded its global crypto trading volume market share to 10.7%, up for the fourth consecutive quarter across both spot and derivative products 1. Assets held on the platform climbed back to peak levels, representing 12.5% of total crypto market capitalization 1. Average $USDC held in Coinbase products reached a record $22 billion—equivalent to roughly 30% of total USDC market capitalization—while Coinbase captured approximately 50% of overall USDC economics over the past year 1. At the time of writing, the broader crypto market is trading lower, with $BTC at $78,803 and $ETH at $2,253.

Prediction Markets and Non-Trading Revenue Expand

Coinbase highlighted rapid diversification beyond retail spot transactions, with subscription and services revenue accounting for 49% of total net revenue during the quarter 1. Its prediction markets business crossed $200 million in annualized run-rate revenue, registering an 82% compound quarterly growth rate since inception 1. Daily active traders on the prediction platform rose more than 60% quarter over quarter 1.

Paid Coinbase One subscribers reached an all-time high, increasing 24% year over year 1. Coinbase noted that these subscribers generate 3.5 times higher average revenue per user and hold 4.2 times higher balances than standard accounts 1. Concurrently, the platform's average daily loan book balance jumped 74% year over year 1. Onchain activity also remained robust: Coinbase tokenized stock volume on Base has now surpassed $1 billion since launch, and the layer-2 network preserved its position as the top layer 2 for decentralized finance total value locked and spot volume 1.

Bitcoin income, by the numbers

Sister project

Compare yields of Bitcoin-backed preferred stocks and option-income ETFs (STRC, STRF, MSTY, BTCI) with free calculators on DividendFlow, our sister site for income investors.

All Bitcoin income products →

dividendflow.org · Not financial advice.

Sources

  1. [1] Coinbase Q3 2026 Earnings Show All-time-high Coinbase One Subscribers and Prediction Markets Surpassing $200 Million in Annualized Revenue — investor.coinbase.com, October 29, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.

Community read
How do you read this story for the assets involved? One vote a day, anonymous.
Be the first to vote
Share X Telegram Bluesky Markdown

The Daily Brief, in your inbox at 07:00 ET

Five stories, the numbers that moved, what to watch. Three minutes. No hype, no advice, unsubscribe in one click.

Not financial advice. Basis Desk publishes information, not recommendations. Crypto assets are volatile and you can lose what you invest.