Coinbase adds $300M Bitcoin as it pushes ‘Everything Exchange’ vision
Coinbase increased its Bitcoin holdings by $300M in Q3 while reporting a fivefold rise in net income and pushing its 'Everything Exchange' strategy.Summary
Coinbase's Q3 report revealed that the company added 2,772 BTC, valued at $299 million, bringing its total Bitcoin holdings to 14,548 BTC ($1.57 billion), underscoring its commitment to BTC as a long-term asset. Financially, Coinbase saw net income increase over fivefold year-on-year to $432.6 million, with total revenue rising 55% to $1.9 billion, driven largely by transaction revenue of $1.05 billion. The company is actively pursuing its 'Everything Exchange' vision by expanding tradable spot assets, derivatives offerings, and laying groundwork for other pillars, including advancing USDC stablecoin adoption, tokenized stocks, and prediction markets. Institutional revenue remained dominant, accounting for 80% of the $295 billion Q3 trading volume, and assets under custody surpassed $300 billion. Furthermore, activity on its Layer 2 network, Base, continued to grow across various applications.
(Source：Cointelegraph)