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

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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 .

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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 .

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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 .

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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 .

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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 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.

What to 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.

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