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：游戏)

• ·Pengu集会与比特币同步：能否突破0.0141美元阻力？
• ·你我贷秒啦额度可以循环吗？怎么才能循环使用？
• ·数字货币玩家有多少
• ·ltc行情
• ·应付账款总账期末余额怎么算
• ·Grayscale：以太坊如何通过执行扩容策略保持定价权
• ·什么是数字虚拟货币
• ·建行全球购信用卡年费多少？享受什么优惠吗？
• ·7月去墨尔本穿什么-7月去墨尔本穿什么衣服
• ·bitkan行情
• ·小树时代怎么提现呢？我想从小树时代上申请提取一笔现金。
• ·fcoin行情
• ·Coinbase 第三季獲利下滑，宣布 10 億美元股票回購計畫
• ·欧意易交易平台(v6.1.34)_欧意易官网app交易平台
• ·公司有买社保就有交个人所得税吗
• ·欧意易数字钱包 欧意易欧义地址