This photograph taken on January 21, 2026 shows Coinbase logo signage at the World Economic Forum (WEF) annual meeting in Davos.
Ina Fassbender | AFP | Getty Images
Global Coinbase reported third-quarter adjusted net income of $719 million, up 66% from $433 million a year ago, largely driven by the recovery of the cryptocurrency market.
Coinbase said it earned $2.51 per share in the most recent quarter, although it was not immediately clear whether that compared to the 6 cents per share profit estimated by Wall Street analysts. The $1.20 billion in revenue was lower than the $1.233 billion expected by analysts surveyed by LSEG.
The San Francisco-based platform’s net profit jumped thanks to the value of its volatile cryptocurrency investment portfolio, which can vary widely even when the composition of the underlying holdings remains little changed.
The value of Coinbase’s crypto investment portfolio in the third quarter increased due to the resurgence of the digital asset market. The price of bitcoin – often used as an indicator for all crypto assets – rose 39% in the three months ended September 30 and the flagship cryptocurrency recently changed hands at around $80,809.
Building beyond Bitcoin
In the third quarter, Coinbase deepened its presence in non-crypto products and services, including artificial intelligence integrations for traders, real-world tokenized assets, and prediction markets.
In July, VP of Product Max Branzburg told CNBC that Coinbase would launch an “everything exchange” highlighting tokenized stocks and other real-world assets, derivatives trading, prediction markets and early-stage token sales. The trading platform also introduced Coinbase for Agents in early October, helping users who want to use ChatGPT, Muse or other AI agents to manage their portfolios or search and trade various assets.
Coinbase has also expanded its prediction market offerings, making a wider range of event contracts available to users.
In the third quarter, revenue from prediction markets reached more than $200 million on an annual basis, while the number of traders in these markets increased by 60% compared to the second quarter.
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