Coinbase Adds 2,772 BTC to Reserves in Third Quarter
Coinbase’s strong quarterly performance includes $295 billion trading volume and upcoming plans for stock tokenization and prediction markets as part of its 'everything exchange' vision.
BTC
ETH
Summary
Coinbase posted a 55% year-over-year revenue increase in Q3 2024, with net profit rising to $433 million and trading volume reaching $295 billion. CEO Brian Armstrong announced a December 17 unveiling of stock tokenization and prediction market initiatives, aligning with the company's 'everything exchange' strategy. This comes alongside previously reported growth in crypto reserves, including significant BTC and ETH acquisitions, reinforcing Coinbase’s expansion in both asset holdings and service offerings.
Terms & Concepts
- BTC: The ticker symbol for Bitcoin, the first and most widely adopted decentralized digital currency.
- ETH: The ticker symbol for Ether, the native cryptocurrency of the Ethereum blockchain used for transactions and smart contracts.
- Stock Tokenization: The process of creating blockchain-based tokens that represent ownership shares in a company or stock, enabling digital trading and settlement.