Coinbase Earnings Surge to ¥66.6 Billion, Benefiting from Cryptocurrency Market Volatility

On the 30th, major U.S. cryptocurrency exchange Coinbase Global announced its third-quarter (Q3) earnings, revealing a significant increase in net profits. Due to the rise in cryptocurrency volatility, trading volumes increased, resulting in net profits of $432.6 million (¥66.6 billion), a substantial rise from $75.5 million in the same period last year. Following the announcement, the company's stock price temporarily rebounded by more than 3% in after-hours trading.

The company's trading revenue reached $1.05 billion, up from $572.5 million in the same period last year. Revenue from subscriptions and services, including non-trading businesses, increased by 34.3% to $746.7 million.

Coinbase...