Coinbase Q3 Net Income Soars 475% as Crypto Volatility Fuels Trading Boom

Coinbase reported a profit surge for the third quarter of 2025, beating Wall Street estimates as swings in cryptocurrency prices boosted trading ￰0￱ exchange earned a net income of $433 million, up from last year’s $75.5 million. Q3 Financial Results Coinbase shared on Thursday that its total net revenue for the quarter ended September 30 climbed to $1.8 billion, driven by higher trading volumes and growth in institutional ￰1￱ volume reached $295 billion, while assets on the platform totaled $516 billion, including $300 billion in assets under ￰2￱ the other hand, transaction revenue jumped to $1.05 billion, compared to $572.5 million a year ago, as more traders took advantage of market ￰3￱ and services revenue also rose by 34.3% year over year to $747 ￰4￱ net income stood at $421 million, and adjusted EBITDA reached $801 ￰5￱ company posted earnings of $1.50 per share, compared to $0.28 in the same period last ￰6￱ analysts from LSEG had projected a profit of $1.06 per ￰7￱ the results were released, Coinbase’s stock gained more than 3% in after-hours ￰8￱ assets rallied in July as crypto-friendly policies by ￰9￱ Donald Trump attracted institutional investor interest, sending Bitcoin to new highs.

However, weak economic data in August caused fears of a potential recession, triggering a selloff as investors pulled back from riskier ￰10￱ exchanges often benefit from such volatility, as more trading means higher revenue from transaction ￰11￱ Market Reach and Stablecoin Growth Coinbase completed its acquisition of Deribit in Q3, with the two recording over $840 billion in notional derivatives trading ￰12￱ company also introduced the first 24×7 perpetual-style crypto contracts in the U. S.. The firm achieved 90% coverage of the total crypto market capitalization and added support for trading more than 40,000 assets through its DEX integration while also reporting all-time highs in institutional loan balances and stablecoin ￰13￱ revenue reached $355 million, up 7% quarter over quarter, while the USDC market cap climbed to an all-time high of $74 billion.

Additionally, the average USDC held in its products rose by 9% to $15 ￰14￱ is also expanding its crypto utility, with over $100 million in One Card spending since ￰15￱ platform credited part of this growth to the GENIUS Act, passed earlier this year, which established a regulatory framework for ￰16￱ a letter to shareholders, the firm said it is focused on “building the everything exchange,” a single platform for all tradable assets. “Coinbase is cash-rich and growth-ready,” said David Bartosiak, Stock Strategist at Zacks Investment Research. “The company isn’t just trading coins anymore. It’s building the backbone of the new financial internet.”