<div class="cryptonews">
 <p class="is-style-lead">Coinbase, a cryptocurrency exchange, reported a net loss of $2 million in Q3 2023 despite rising revenue and a drop in <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a>, according to details of the recent&nbsp;shareholders letter&nbsp;circulated on Nov. 2.&nbsp;</p>
 <p>However, the exchange reduced its net loss compared to the same period last year, which was $545 million.&nbsp;</p>
 <p>The company’s total revenue was $674.1 million, an increase of 14.2% compared to last year, with $334.4 million coming from subscriptions and services, and $288.6 million from transaction revenue.</p>
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 <p>Consumer trade <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> was $11 billion, while institutional <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a>s were $65 billion, an improvement from the previous quarter.&nbsp;</p>
 <p>Although <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a>s have been falling for five consecutive quarters, the exchange is optimistic. It expects an improvement by the end of Q4 2023.</p>
 <blockquote class="wp-block-quote">
  <p>“Q3 was a strong quarter for Coinbase. Amid multi-year low levels of volatility, we are pleased with our financial results.”</p> <cite>Coinbase report</cite>
 </blockquote>
 <p>Previously, Coinbase Advanced&nbsp;gave&nbsp;US retail traders access to regulated cryptocurrency futures contracts months after its subsidiary, Coinbase Financial Markets, received regulatory approval for crypto futures services.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/coinbase-cuts-net-loss-amid-declining-trading-volume-in-q3-2023-tbt68919.html">https://thebittimes.com/coinbase-cuts-net-loss-amid-declining-trading-volume-in-q3-2023-tbt68919.html</a></p>

Coinbase cuts net loss amid declining trading volume in Q3 2023

TheBitTimes

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