Coinbase reported third-quarter 2026 net income of $719 million in results released October 29, while highlighting growth in its subscription business, crypto trading share and prediction-market product. The company also reported adjusted net income of $78 million, underlining the importance of distinguishing headline GAAP results from adjusted metrics.
Profit and adjusted earnings
According to Coinbase’s official third-quarter earnings release, adjusted EBITDA was $333 million, up approximately 60% from the previous quarter. Coinbase also reported its fifteenth consecutive quarter of positive adjusted EBITDA. These are company-reported adjusted measures, distinct from the quarter’s $719 million in GAAP net income.
The gap between $719 million of reported net income and $78 million of adjusted net income matters. Coinbase’s official reconciliation includes approximately $715 million of gains on crypto assets held for investment, which is excluded from the adjusted measure. The two metrics use different accounting definitions, so investors should not treat the quarter’s headline profit as equivalent to recurring operating cash generation.
Trading share and assets on platform
The exchange said its crypto trading-volume market share reached 10.7%, marking its fourth consecutive quarter of market-share gains. It also reported assets on platform equal to about 12.5% of total crypto-market capitalization.
Both statistics depend on Coinbase’s calculation methods and the observation period. They are company-reported measures, not guarantees about future customer activity or trading profitability.
Prediction markets and USDC activity
Coinbase said its prediction-markets business surpassed $200 million in annualized revenue, making it one of its fastest-growing newer offerings. BlockBriefing separately covered Robinhood’s event-contract revenue, a different company-reported measure of prediction-market activity. Average USDC held in Coinbase products reached $22 billion, which it described as a new record and a 49% year-over-year increase. BlockBriefing’s stablecoin guide explains how dollar-pegged tokens work and the risks they carry.
Annualized revenue expresses the business’s recent pace as an annual rate; it is not identical to actual revenue generated over the previous twelve months. Growth in USDC balances also does not directly translate into an equal increase in company profit.
What to watch next
Coinbase said paid Coinbase One subscriptions reached a record level, increasing 24% year over year. Investors will watch whether trading activity, prediction-market income and subscription retention sustain that momentum.
Regulation, market prices and trading volumes remain material variables. This report summarizes Coinbase’s own announcement, not an independent audit of its projections.
Primary source and verification
Read the original announcement or data record for the underlying evidence. Figures and circumstances reflect the publication dates specified in this report and may change with subsequent disclosures.
BlockBriefing reports on digital assets for information, not as investment, legal or trading advice. Images created for this report are editorial illustrations, not documentation of the event.
