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：私募资讯)

• ·TrueUSD (TUSD)：如何购买及上线交易所推荐
• ·宜人贷极速模式多久可以对额度重新评估，应该怎么提高额度？
• ·我的南京公积金查询-我的南京公积金查询不到
• ·截至第一季度末，贝莱德的比特币敞口已增至50亿美元以上
• ·税收和税务有什么区别
• ·比原链怎么买 比原链怎么购买
• ·LDX伦敦交易所APP
• ·HYC行情
• ·imtoken怎么 imtoken怎么读
• ·Gate.io Launchpool 4月高频上线23个项目，主流币质押撬动高收益
• ·云南昆明是什么气候-云南昆明是什么气候类型
• ·bter行情
• ·玖富万卡显示在放款中请问这笔借贷可以到账吗？
• ·ok币行 行情api
• ·币安交易所下载
• ·比特币持有人信心十足：突破95K将开启新一轮上涨