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：基金优选)

• ·MEME币AI交易大师terminal of fun走红：抱一丝，我100%胜率全靠收割跟单者
• ·秋田犬币最新价格-AKITA币现价
• ·加密早报：DWF 合伙人涉嫌迷奸遭解雇，以太坊链上资金继续净流出
• ·江西大病救助的申请条件有哪些？详细要求是什么？
• ·小赢卡贷利息高不高，怎么计算利息啊？
• ·10月31日金鹰民丰回报定期开放混合净值增长0.89%，近3个月累计上涨10.31%
• ·合约数是什么
• ·10月31日国联沪港深大消费主题C净值下跌1.16%，近1个月累计下跌1.93%
• ·西班牙6月穿什么衣服
• ·10月31日圆信永丰优享生活净值增长0.89%，近3个月累计上涨15.25%
• ·比特儿交易所
• ·10月31日银华农业产业股票发起式C净值下跌0.81%，今年来累计下跌21.87%
• ·电脑怎么怎么挖矿 电脑怎么挖矿啊
• ·10月31日长盛航天海工混合A净值下跌0.07%，今年来累计下跌1.09%
• ·玖富万卡的预计放款的时间是多久呢？
• ·10月31日华泰柏瑞行业优选6个月持有期混合C净值增长0.28%，近3个月累计上涨7.13%