Crypto exchange delivers its 15th consecutive quarter of positive adjusted EBITDA as expanding subscriptions, stablecoin adoption, and new products drive growth.
Coinbase Global (COIN) reported strong third-quarter 2026 financial results, highlighting continued profitability, expanding market share, and accelerating growth across its diversified cryptocurrency platform despite softer market conditions.
The company posted net income of $719 million and adjusted net income of $78 million. Adjusted EBITDA climbed 60% quarter over quarter to $333 million, marking Coinbase’s 15th consecutive quarter of positive adjusted EBITDA.
Coinbase’s crypto trading volume market share reached 10.7%, representing its fourth consecutive quarterly increase, supported by growth in spot and derivatives trading.
Assets held on the platform accounted for 12.5% of total cryptocurrency market capitalization, returning to previous peak levels.
Meanwhile, Coinbase’s rapidly expanding prediction markets business surpassed $200 million in annualized revenue, with daily traders increasing more than 60% quarter over quarter.
Stablecoin adoption also strengthened, with average USDC holdings across Coinbase products reaching a record $22 billion, up 49% year over year.
Subscription and services revenue represented 49% of total net revenue, while paid Coinbase One subscriptions increased 24% annually.
The company’s lending business also expanded, with average daily loan balances rising 74% year over year.
CEO Brian Armstrong emphasized Coinbase’s growing market position and the rapid expansion of prediction markets.
With improving profitability, record customer engagement, and increasing revenue diversification, Coinbase continues strengthening its competitive position while reducing its dependence on traditional cryptocurrency trading activity.
