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：牌价)

• ·玖富万卡这个平台怎么样，好不好下款呢？
• ·小企股多少量
• ·虚拟钱包如何使用-虚拟钱包如何使用教程
• ·代币众筹后如何
• ·Cindicator (CND) 哪里可以买？交易平台推荐解析
• ·Cntr Consortium关闭后Coinbas收购Circl股权
• ·动力币是什么
• ·Kroll网络安全漏洞中敏感数据泄露
• ·百度有钱花怎么样？想从上面申请一笔贷款。
• ·代币众筹平台
• ·货币交易所审查
• ·如何bcc
• ·BitsLab 旗下 TonBit 再次发现 TON 虚拟机漏洞：RUNVM 指令或导致智能合约执行环境污染
• ·商丘住房公积金查询个人-商丘住房公积金查询个人账户查询
• ·gcoin离线钱包信号
• ·尼日利亚社交支付应用程序关闭加密货币交易服务