{"id":195503,"date":"2023-11-03T01:38:59","date_gmt":"2023-11-03T01:38:59","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=195503"},"modified":"2023-11-03T01:38:59","modified_gmt":"2023-11-03T01:38:59","slug":"coinbase-narrows-loss-while-crypto-trading-volumes-fall-in-q3","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/coinbase-narrows-loss-while-crypto-trading-volumes-fall-in-q3\/","title":{"rendered":"Coinbase narrows loss while crypto trading volumes fall in Q3"},"content":{"rendered":"

Cryptocurrency exchange Coinbase narrowed its net loss to $2 million in the third quarter, as inotched a year-on-year increase in revenue despite lower trading volumes. <\/p>\n

The firm\u2019s net loss in Q3 was trimmed from a $545 million net loss in the prior year period, according to a Nov. 2 earnings statement.<\/p>\n

Total revenue increased 14.2% year-on-year to $674.1 million, though quarter-on-quarter revenue fell 4.8%. The figure beat London Stock Exchange Group\u2019s estimate of $653.2 million, according to a report from Reuters.<\/p>\n

Of the total revenue, $334.4 million came from subscription and services (mostly stablecoin and blockchain rewards), while $288.6 million came from transaction-based revenues.<\/p>\n

Meanwhile, consumer trading volume came in at $11 billion, a fall from $26 billion in Q3 2022.<\/p>\n

Institutional trading volumes came in at $65 billion, down from $78 million in Q2 and $133 million in Q3 2022. <\/p>\n

These volumes have been trending downwards for five consecutive quarters.<\/p>\n

Despite this, Coinbase said in a statement it was pleased with how the quarter played out:<\/p>\n

\u201cQ3 was a strong quarter for Coinbase. Amid multi-year low levels of volatility, we are pleased with our financial results.\u201d<\/p><\/blockquote>\n

The exchange also produced a positive adjusted EBITDA for the third consecutive quarter \u2014 a sign that they\u2019re building toward a \u201csustainable business\u201d that can drive \u201clong term growth,\u201d it said. <\/p>\n

Adjusted EBITDA stands for earnings before interest, taxes, depreciation and amortization and is a metric that provides analysts a means to make more meaningful comparisons to a variety of companies in the same industry.\u00a0<\/p>\n

Related: <\/em><\/strong>Coinbase launches regulated crypto futures services for US retail traders <\/em><\/strong><\/p>\n

<\/p>\n

Coinbase\u2019s share price (COIN) spiked 8.7% to $84.6 during trading hours but then fell 3.7% to $81.5 in after-hours trading, following the results filing, according to Google Finance.<\/p>\n

Magazine: <\/em><\/strong>Slumdog billionaire: Incredible rags-to-riches tale of Polygon\u2019s Sandeep Nailwal<\/em><\/strong><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Cryptocurrency exchange Coinbase narrowed its net loss to $2 million in the third quarter, as…<\/p>\n","protected":false},"author":4,"featured_media":195502,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nCoinbase narrows loss while crypto trading volumes fall in Q3 - Tokens Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tokenstalk.info\/crypto\/coinbase-narrows-loss-while-crypto-trading-volumes-fall-in-q3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coinbase narrows loss while crypto trading volumes fall in Q3 - Tokens Talk\" \/>\n<meta property=\"og:description\" content=\"Cryptocurrency exchange Coinbase narrowed its net loss to $2 million in the third quarter, as...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tokenstalk.info\/crypto\/coinbase-narrows-loss-while-crypto-trading-volumes-fall-in-q3\/\" \/>\n<meta property=\"og:site_name\" content=\"Tokens Talk\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-03T01:38:59+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tokenstalk.info\/wp-content\/uploads\/2023\/11\/Coinbase-narrows-loss-while-crypto-trading-volumes-fall-in-Q3.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tokenstalk.info\/crypto\/coinbase-narrows-loss-while-crypto-trading-volumes-fall-in-q3\/\",\"url\":\"https:\/\/tokenstalk.info\/crypto\/coinbase-narrows-loss-while-crypto-trading-volumes-fall-in-q3\/\",\"name\":\"Coinbase narrows loss while crypto trading volumes fall in Q3 - 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