Coinbase Q3 Transaction Revenue Nearly Matched Subscription and Services Revenue

Coinbase's transaction revenue nearly matched subscription and services revenue in the third quarter, giving the exchange two similarly sized revenue categories as it recorded $1.2 billion in net revenue.

Transaction revenue totaled $590.2 million for the quarter ended Sept. 30, compared with $570.2 million from subscriptions and services. The latter category made up 49% of net revenue.

Coinbase recorded net income of $718.7 million. Adjusted EBITDA was $332.9 million.

“Prediction markets are adding another revenue stream and are less correlated to crypto volatility,” said Alesia Haas, Coinbase's chief financial officer. Coinbase released its results Thursday, Oct. 29.