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：财富观察)

• ·RWA“两链一桥”平台在香港金融科技周亮相
• ·发行税务机关6位地区编号去哪里查
• ·狗狗币交易所
• ·平安i贷为什么点击申请会提示系统繁忙？我点了好几次都是这样。
• ·btc怎么挖矿 btc挖矿怎么挖
• ·代付销售方商品运费怎么做分录
• ·区块链交易所开发
• ·全球加密货币交易所的排名(世界最好的币圈五大交易所)
• ·宜人贷极速模式审核多久，有人申请过了解的吗？
• ·Dogecoin：ETF一旦获批，Doge价格能涨多高？
• ·日本币宝交易所-日本货币交易所
• ·小规模公司月收入多少免税
• ·ycc币行情
• ·Dexe价格命运悬于一线：对称三角形能否引发市场逆转？
• ·稳岗补贴是给个人还是给公司
• ·国内看虚拟货币的软件 十大虚拟货币交易平台