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：汇率)

• ·btcc行情
• ·提币钱包有待
• ·欧意易交易所_现在什么虚拟币可以买_虚拟币现在哪个可以玩
• ·公积金批量基数
• ·USDT海外手机钱包 USDT手机钱包海外版本v3.4.8
• ·Tikthuobi发布文本帖子功能 以对抗twittr和线程
• ·剑桥最新报告：比特币挖矿能源结构已悄然改变
• ·AVA正在徘徊在一条重要的支撑线附近 雪崩币未来的方向是什么
• ·以太币钱包更新
• ·炒币平台正规排行榜有哪些？以下是炒币平台正规排行榜的推荐列表
• ·LTC合约钱包 LTC合约钱包最新注册地址v7.0.6
• ·Forsight Vnturs: 理性看待去中心化算力网络
• ·清包工属于劳务派遣吗
• ·北京发表2023年Wb3发展白皮书！赵长鹏称时间点有趣 孙宇晨表示同意
• ·建行电话征信后信用卡通过率高吗？审核流程是什么啊？
• ·政府会计预付账款会计分录