Coinbase reduces reliance on trading business as subscription and services revenue reaches 49% of net revenue

AI-assisted source summary · not independently verified. Content standards

Coinbase’s subscription and services revenue rose to $570 million in the third quarter, accounting for 49% of net revenue and further reducing its reliance on trading revenue. The revenue increased 3% quarter over quarter; as total crypto market trading volume declined 10%, prediction markets and subscription and services revenue offset the impact, with trading revenue at approximately $590 million and total revenue at approximately $1.2 billion.