• Q3 net revenue hit $1.79 billion, up from $1.13 billion a year ago.
• Profits soared to $433 million, compared to just $75.5 million last year.
• Transaction fee revenue jumped 83% to $1 billion amid a crypto market upswing.

A surging crypto market powered Coinbase Global to a stronger-than-expected third quarter, with the exchange reporting significant beats on both profit and revenue as trading activity boomed and its services division hit a new record.

The impressive results, which reflect a crypto market that saw Bitcoin reach an all-time high during the quarter, underscore the company’s successful strategy of catering to advanced traders and expanding its institutional offerings.

The news sent Coinbase stock up as much as 2.6% in after-hours trading.

Coinbase’s financial results significantly outpaced the same period last year.

The company reported a net profit of $433 million, or $1.50 per share, a massive increase from just $75.5 million a year ago.

Net revenue for the quarter tallied $1.79 billion, up from $1.13 billion in the prior year.

This was driven by a sharp increase in trading volume, which totaled $295 billion for the quarter, a substantial jump from $185 billion in the same period last year.

Two engines of growth: trading and services

The company’s revenue growth was powered by strong performance in both of its core business segments.

Transaction fee revenue, the company’s traditional bread and butter, climbed 83% from a year ago to hit $1 billion.

Coinbase CFO Alesia Haas told Yahoo Finance Executive Editor Brian Sozzi that this growth was fueled by sophisticated market participants.

“We rolled out this new white-glove service offering that’s seen a lot of traction that we’re able to retain and grow these advanced traders on our platform,” she said.

Meanwhile, the company’s subscription and services division—which includes revenue from stablecoins, staking, and interest—rose 34% to a record high of $747 million, demonstrating the company’s successful diversification efforts.

Riding a wave of regulatory clarity

Coinbase credited a more favorable regulatory environment in Washington for creating new opportunities, particularly in the stablecoin sector.

The Trump administration’s move to create a federal framework for stablecoins in July has provided a significant boost.

“We are accelerating payments through stablecoin adoption, which we anticipate will continue given policy tailwinds, and ongoing adoption from financial institutions and corporates for payment and treasury needs,” the company said in its letter to shareholders.

With regulatory clarity accelerating, crypto rails are set to power more of global GDP, and we believe Coinbase is positioned to lead.

The company’s focus on USDC, the second-largest stablecoin, generated $354 million in revenue, with the average USDC held across its products reaching an all-time high of over $15 billion in the quarter.

Strategic moves to capture the institutional market

Coinbase has been aggressively expanding its institutional footprint through both acquisitions and partnerships.

The $2.9 billion purchase of derivatives exchange Deribit in May is already paying dividends. “Our institutional trading revenues, they grew over 120% in the quarter,” Haas said.

The company is also embedding itself in the traditional finance world by forging key partnerships with major US banks.

These include a credit card partnership with JPMorgan Chase, a crypto-as-a-service deal with PNC, and a crypto payments collaboration with Citigroup.

To further enhance these efforts, Coinbase applied for a national trust bank charter earlier this month.

The post Coinbase crushes Q3 estimates as crypto market boom fuels revenue appeared first on CoinJournal.

• Bitcoin fell below $111,000 after Fed Chair Powell’s hawkish comments.
• Powell said a December interest rate cut is “not a foregone conclusion.”
• Major cryptocurrencies like Ethereum, XRP, and Solana also posted losses.

Bitcoin and the wider cryptocurrency market took a sharp downturn after US Federal Reserve Chair Jerome Powell signaled that a highly anticipated December interest rate cut was not guaranteed, reversing market sentiment that had priced in further easing.

The hawkish remarks immediately spooked investors, sending Bitcoin below a key support level and triggering a broad sell-off across digital assets.

While the Fed did deliver an expected quarter-point rate cut, Powell’s commentary on the future path of monetary policy became the dominant driver of the market’s negative reaction.

Powell pours cold water on December rate cut hopes

At the conclusion of the Federal Open Market Committee (FOMC) meeting, Powell announced a 0.25% point reduction in the policy rate to a range of 3.75-4.00%.

However, he quickly tempered market optimism by adopting a cautious stance on future moves, stating a December cut “is not a foregone conclusion.”

Powell explained that the central bank needs more economic data, particularly after the recent government shutdown obscured key indicators.

“We may need to slow the pace of policy (rate) adjustments. I hope to obtain more data by December,” he said at the press conference.

He also revealed a growing divide within the committee.

“More and more Fed members want to delay rate cuts,” Powell continued, adding, “After two consecutive rate cuts, some members are taking a wait-and-see stance.

The view that we should wait at least one cycle is spreading.”

Bitcoin leads broad market plunge

The market’s reaction to Powell’s unexpected caution was swift and decisive.

Bitcoin, which had been trading steadily around the $113,000 level before the press conference, broke below its $110,000 support moments after his remarks, hitting an intraday low in the $109,000 range.

As of Thursday, the token was still struggling around $110,000, down roughly 2% from the previous day.

The weakness was felt across the entire crypto ecosystem.

According to CoinMarketCap, other major cryptocurrencies also posted significant losses:

• Ethereum (ETH) fell 1.93% to $3,899.87.

• XRP dropped 2.74% to $2.53.

• Solana (SOL) declined 1.04% to $192.37.

A silver lining? Fed to end quantitative tightening

However, Powell’s press conference was not entirely hawkish. He also formally announced the end of the Fed’s asset reduction program, known as Quantitative Tightening (QT), which could increase liquidity in the financial system.

“We have decided to end QT as of December 1,” Powell stated. He explained that the Fed’s balance sheet had shrunk by $2.2 trillion over three and a half years.

“We now believe we are close to sufficient reserves,” he said, signaling a shift toward balance sheet normalization.

With Fed in rearview, all eyes turn to US-China summit

With the Fed’s immediate policy path now clarified, investors are pivoting their attention to the next major potential catalyst: the US-China summit.

Following the crypto market plunge, traders are looking to the meeting between US President Donald Trump and Chinese President Xi Jinping as a possible source of positive news that could trigger a rebound.

The high-stakes meeting is scheduled for Thursday morning at the ‘Naraemaru’ facility at Gimhae Airport Air Force base.

The post Crypto update: Bitcoin tumbles below $111K as Powell dashes December rate cut hopes appeared first on CoinJournal.

• Bitcoin is fighting to close October in positive territory, a key historical signal.
• The month has been highly volatile, with a 13% correction at one point.
• A series of technical indicators are now pointing to a bullish short-term structure.

It has been an up-and-down and often frustrating month for Bitcoin traders, a period of wild price swings that has put the seasonal promise of an “Uptober” rally to a severe test.

Now, with just a few days left in the month, a tense battle is underway as the bulls fight to keep the world’s leading cryptocurrency in positive territory, a goal that could have significant implications for the rest of the year.

Historically, October has been a powerful launchpad for Bitcoin, delivering average gains of more than 20%. But this year has been a different story.

After spiking above $123,000 early in the month, the market was hit by a brutal 13% correction that saw prices plummet to $107,000.

Since then, the bulls have been in a grinding, hard-fought recovery, with the price currently hovering around $115,000, a meager 1.14% gain for the month.

A powerful macro tailwind provides support

This fragile recovery is being supported by a powerful macroeconomic tailwind.

Traditional markets are firing on all cylinders, with the S&P 500 hitting fresh record highs as investors confidently price in a quarter-point interest rate cut from the Federal Reserve this week.

This dovish monetary policy, combined with an easing of US-China trade tensions, has propelled a “risk-on” sentiment that typically benefits assets like crypto.

Adding another layer of support is a renewed wave of institutional interest.

Spot Bitcoin ETFs have now recorded their third consecutive day of inflows, a clear signal of conviction from the market’s larger and more influential players.

The view from the charts: a bullish structure takes shape

A deep dive into the technical charts reveals a bullish short-term structure that suggests the path of least resistance is now to the upside.

The Average Directional Index (ADX), a key measure of trend strength, is sitting at a strong 32.14, a reading that suggests the current upward momentum is likely to persist.

At the same time, the Squeeze Momentum Indicator is flashing a “bullish Impulse,” a high-probability signal that directional movement to the upside is just beginning.

The Ichimoku Cloud analysis also shows Bitcoin trading above the clouds, another classic indicator of trend continuation.

The final hurdle: a pivotal Fed decision

While the technical and macro pictures are aligning in favour of the bulls, a major and binary risk event looms on the horizon: the Federal Reserve’s policy announcement on Wednesday.

While the market is pricing in a 25-basis-point cut, any hawkish language about the future path of interest rates could easily trigger a wave of short-term volatility.

The key for the bulls will be whether Bitcoin can maintain its critical support above the $114,000 level through any Fed-related turbulence.

If it can, then this “Uptober,” while not as explosive as many had hoped, may still end in the green, setting the stage for a potentially powerful final two months of the year.

The post Battle for a green month: Can Bitcoin hold its gains as ‘Uptober’ comes to a close? appeared first on CoinJournal.