Coinbase generated 1 billion dollars in revenue in the third quarter.

Coinbase Reports Third Quarter Results for 2023

Coinbase reported a third-quarter revenue of $1.9 billion for the year 2023. This figure represents a 58% increase compared to the same quarter last year. The company achieved this successful outcome due to the recovery of trading activities and asset prices.

Trading revenues rose to over $1.0 billion, more than doubling compared to last year. During the same period, the adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) was reported as $801 million.

The company also announced that Base, one of the Layer 2 blockchain projects, has now become profitable. This success was achieved due to increased usage and high Ethereum prices.