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：基金专题)

• ·员工意外保险抬头是个人名字怎么入帐
• ·10月31日大成高新技术产业股票A净值下跌1.00%，近1个月累计下跌4.29%
• ·zec的钱包注册-zsc钱包注册
• ·麦格雷戈竞选总统：提议爱尔兰建立比特币战略储备
• ·人人贷充值要手续费吗？有的话要收多少钱？
• ·人人贷有额度要多久到账？有没有提高下款速度的方法？
• ·海关缴款书第四联已存在怎么办
• ·以太坊什么时候能涨
• ·Vitalik：以太坊The Scourge阶段的关键目标
• ·以太坊领涨，「山寨季」要回来了吗？
• ·bfx交易所
• ·10月31日浙商沪港深精选混合A净值下跌0.60%，近1个月累计下跌5.86%
• ·ETH/SOL 三年持有经验总结：市场数据与生态发展方向
• ·今日比特最新行情
• ·BingX 觀點：川普當選前景有助於推高比特幣價格
• ·meme币手机钱包下载地址 memeBIAN卓下载地址入口