According to CoinMeta, and as reported by Bloomberg, Coinbase reported revenue of $1.22 billion in the third quarter of 2026, a year-on-year decrease of about 35%. However, net profit met market expectations, growing by about 66% to $719 million, with earnings per share at $2.51. This marked an end to three consecutive quarters of losses, and the profit was mainly driven by unrealized gains from holding crypto assets. After adjustments, EBITDA amounted to $333 million. The subscription and services business contributed 49% of the revenue, with annualized revenue from the market business predicted to exceed $200 million. Coinbase CFO indicated that the company's share in the spot and derivatives markets has increased, and its revenue structure has become more diversified. Nevertheless, with intensified competition from low-fee platforms such as Robinhood, Coinbase recently reduced the fees for some active traders, raising concerns that its trading fees will continue to be under pressure.