Coinbase announced on Wednesday during its third quarter earnings report that its board of directors has approved a $1 billion stock buyback plan.

In October 2024, our board of directors authorized and approved a stock repurchase plan that allows for the repurchase of up to $1 billion of outstanding Class A common stock without a deadline. Coinbase stated, "The timing and amount of any repurchase will depend on market conditions

Coinbase also stated that its balance sheet is "robust," with $8.2 billion in US dollar resources at the end of the third quarter, an increase of $417 million from the previous quarter.

The company added that the repurchase plan will be at its own discretion and there is no obligation to repurchase any amount or quantity of Class A common stock in US dollars, and the plan may be modified, suspended, or terminated at any time.

Coinbase (COIN) stock price fell 5.33% to $200.48 in after hours trading.

Profit mostly decreases

Due to cryptocurrency prices trading at a lower level in 2023, Coinbase's net income, net profit, and adjusted EBITDA have all increased compared to the same period last year. But compared to the previous quarter, only net profit increased, reaching $75 million, higher than the $36 million in the second quarter.

Coinbase's net revenue for the third quarter was $1.13 billion, lower than the previous quarter's $1.38 billion. The adjusted EBITDA for the third quarter was $449 million, compared to $596 million in the previous quarter.

Compared to the second quarter, stablecoin revenue is one of the few sources of income that has improved. Coinbase reported its stablecoin revenue of $247 million, a slight increase from the previous quarter's $240 million, and a slight increase in company interest and other income.

We have seen a significant increase in stablecoin trading volume between quarters. We believe that this growth is partly driven by a product update that allows advanced traders to trade stablecoins more conveniently on our platform, "Coinbase said in its statement." Although we have incurred almost no fees in stablecoin trading, the adoption growth of stablecoins (especially USDC) is at the core of our strategy, as we monetize USDC through commercial arrangements with USDC issuers

data source

(责任编辑：基金数据)

• ·Solana发展面临困境，以太坊与Solana攻守之势将易？
• ·闪电借款可以更换绑定的手机号码吗？
• ·若乌克兰和谈受阻 美国将对俄罗斯实施新制裁
• ·貝萊德與微軟計劃推出 300 億美元 AI 投資基金，用於建設數據中心和能源專案
• ·山寨币：投资新手的风险黑洞
• ·火币矿机
• ·苏州公积金贷款流程是怎样的？不是很了解苏州的具体情况。
• ·副总统JD Vance将出席比特币2025大会并发表演讲
• ·2025 年第二季度末之前狗狗币（DOGE）将飙升多少？
• ·区块链每日行情
• ·币安创始人赵长鹏：投资加密货币需管理风险，但观望亦不可取
• ·今日数字币行情
• ·火币比特币安全吗
• ·回购库存股的会计分录是什么
• ·天气什么大阳什么
• ·随着 LIBRA memecoin 调查的深入，阿根廷法院解除了 Milei 的银行保密制度