Coinbase net income surges 66% in third quarter, benefiting from bitcoin investment gains

This photograph taken on Jan. 21, 2026 shows signage of the Coinbase logo during the World Economic Forum (WEF) annual meeting in Davos.

Ina Fassbender | AFP | Getty Images

Coinbase Global earned third‑quarter adjusted net income of $719 million, a 66 % increase from $433 million a year ago, driven largely by a recovery in the cryptocurrency market. The company reported earnings of $2.51 per share, while analysts had forecast a profit of just 6 cents per share. Revenue came in at $1.20 billion, slightly below the $1.233 billion expected by LSEG‑tracked analysts.

The surge in profitability reflects the heightened value of Coinbase’s crypto investment portfolio, which can swing dramatically even when the underlying holdings remain relatively unchanged. In the third quarter, the portfolio’s value rose as digital‑asset prices rebounded. Bitcoin—a key benchmark for the sector— climbed 39 % over the three‑month period ending Sept. 30 and was trading around $80,809 at the close of the quarter.

Expanding Beyond Bitcoin

Coinbase deepened its push into non‑cryptocurrency products during Q3, including AI‑driven tools for traders, tokenized real‑world assets and an expanded prediction‑market platform. In July, product VP Max Branzburg told CNBC that the exchange would launch an “everything exchange” featuring tokenized stocks, derivatives, prediction markets and early‑stage token sales. The platform also introduced “Coinbase for Agents” in early October, enabling users to employ AI agents such as ChatGPT or Muse to manage portfolios and conduct research and trades.

Prediction‑market revenue more than doubled to over $200 million on an annual basis in the quarter, while the number of active traders on those markets rose 60 % compared with the second quarter.

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