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：风向标)

• ·比特币上涨趋势有望达到 11.4 万美元——支撑 BTC 上涨的两个关键因素
• ·闪电借款需要什么条件呢？想在闪电借款上申请一笔资金。
• ·etc币价格暴跌-etc币的价格
• ·存货转为投资性房地产分录是什么
• ·比特币长期持有者开始抛售吗？
• ·USDT钱包app官方下载 USDT交易平台 排行榜
• ·传媒股票消息-传媒股票消息最新
• ·虚拟币涨跌靠什么 虚拟币涨跌靠什么赚钱
• ·Anthropic 首席执行官表示，人工智能模型“可能”比人类产生幻觉的程度更低
• ·小树时代可以延期还款吗？到还款日了，我没有足够的资金进行还款。
• ·Animoca 或将美国上市，能救 GameFi 吗？
• ·请问你我贷贷款流程是什么吗？具体步骤是什么？
• ·碳酸锂分析：碳酸锂价格持续走低，市场等待的催化剂究竟在何方？
• ·云储币交易平台
• ·特朗普税改法案引发财政担忧，美国国债收益率持续承压
• ·ft现在的价格