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A strong Q3 for Coinbase, but why aren’t the numbers flying
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Coinbase’s Q3 report found that its ‘strong’ performance was backed by customer engagement and ongoing industry momentum. However, it added,
” As our year-to-date results have clearly demonstrated, our business is volatile.”
After a stellar performance in Q2, Coinbase had announced crypto-exchange business in Japan, locked horns with the SEC, and listed meme coin SHIB, among other material headlines.
In its overview of the quarterly metrics, Q3 fell short on key parameters like net revenue and trading volume. Even when the net revenue managed to remain above the $1 billion mark for the third consecutive quarter. Net income and adjusted EBITDA stood at $406 million and $618 million, respectively.
Source: Coinbase Q3
While Coinbase’s net income
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