Coinbase net income surges 66% in third quarter on bitcoin investment gains

Source Summary

Coinbase reported third-quarter net income that surged 66%, exceeding analyst expectations. The strong results were driven primarily by gains from bitcoin investments as the cryptocurrency market recovered.

Why it matters

Coinbase's earnings beat demonstrates the direct link between cryptocurrency market recovery and the company's profitability as a major digital-asset platform.

Read the Source

• CNBC ↗