Coinbase shares fell 10.62% to $143.54 on October 30, after declining 39.31% year to date. The exchange reported net income of $719 million for the third quarter of 2026, compared with $433 million a year earlier, and adjusted EBITDA of $333 million. This marked its 15th consecutive quarter of positive adjusted EBITDA. However, net income was significantly supported by approximately $715 million in gains on its crypto investments, while net revenue dropped 34% and transaction revenue fell to $590 million. The disclosure of plans to sell approximately 13.6 million shares worth roughly $2.2 billion also weighed on the stock, amid declining crypto trading activity and scrutiny following a data breach at a third-party analytics provider.
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