#Coinbase Adds $300M in $BTC While Advancing Exchange Vision


Coinbase increased its $BTC holdings by 2,772 coins during the third quarter, bringing total reserves to 14,548 $BTC valued at $1.57 billion. The exchange reported a net income of $432.6 million in Q3, representing a fivefold increase year-over-year. Total revenue climbed to $1.9 billion, up 55% from the previous year, according to the company's Thursday earnings report.


Transaction revenue reached $1.05 billion during the quarter, while subscription revenue rose 34.3% year-over-year to $746.7 million. Subscription figures include #stablecoin revenue and blockchain rewards. The $299 million worth of Bitcoin purchases demonstrates Coinbase's commitment to accumulating the cryptocurrency as a long-term asset while also serving as custodian for Wall Street asset managers offering spot Bitcoin exchange-traded funds.


The exchange continued expanding business verticals in pursuit of becoming an "Everything Exchange" during Q3. Coinbase stated it made progress by increasing tradable spot assets, expanding derivatives offerings, and establishing groundwork for additional pillars. A major component of this vision involves advancing stablecoin adoption through Circle's $USDC, alongside tokenized stocks, prediction markets, and early-stage token sales.


Institutional revenue dominated Coinbase trading activity, accounting for 80% of the $295 billion trading volume in Q3. Assets under custody surpassed $300 billion, setting another all-time high. The institutional focus has driven significant growth in the company's business model while establishing Coinbase as a key infrastructure provider for professional investors.

image
October 31, 2025 at 2:10 PM
3