Coinbase expects its subscription and services business to generate between $550 million and $630 million in revenue in the fourth quarter of 2026. In the third quarter, the business generated $570 million, compared with $590 million from transactions, as total revenue reached $1.22 billion. Coinbase attributed its cautious outlook to a lower average USDC market capitalization and reduced staking rates, while paid Coinbase One subscribers increased 24% year over year. The company also estimates that prediction markets could produce more than $200 million in annualized revenue, with average USDC held on its products reaching $22 billion.
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