Record Revenue and Strong Financial Performance
Coinbase reported total revenue of $1.9 billion, net income of $433 million, and adjusted EBITDA of $801 million for Q3 2025.
Expansion of Trading Platform
The number of tradable assets increased from 300 to 40,000 with DEX integrations, and the launch of CFTC-regulated 24/7 perpetual style futures in the U.S.
Significant Growth in Stablecoin Adoption
USDC market cap hit $74 billion, with Coinbase as the largest contributor, and stablecoin market cap reaching $300 billion.
Derivatives Volume Growth
The acquisition of Deribit and expansion of derivatives products resulted in over $840 billion in total derivatives volume in Q3.
Institutional Business Growth
Institutional transaction revenue was $135 million, up 122%, driven by derivatives and options trading.