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：游戏)

• ·Ethena团队遭“诚信”危机，使用1.8亿枚ENA赚取Sats意在稀释奖励？
• ·海康威视收盘涨0.33%，主力资金净流出4368.22万元
• ·请问广发真情金卡临时额度怎么调整啊？
• ·涨停揭秘 | 中科金财首板涨停，封板资金8376.1万元
• ·恒星币今日飙升10%，但XLM价格未来仍面临强劲阻力
• ·meme币交易中心手机app最新版 meme币比安卓手机平台软件
• ·5813交易平台
• ·环保币交易平台-
• ·从比特币收益到 CeFi 代币化，Lorenzo 如何重构链上资产逻辑？
• ·本周非农数据或成市场关注焦点
• ·AI 进军 Meme 大竞赛：从玩梗到创造价值，一场关于效用与乐趣的较量
• ·虚拟货币交易所时代
• ·LDX伦敦交易所APP
• ·Wb3 全栈游戏解决方案 COMBO 推出 8000 万美元生态基金
• ·企业先开基本户还是先建帐本
• ·交易币行情