Coinbase held 17,954 bitcoin for its own account as of September 30, up from 15,389 at the end of 2025, giving the holdings a value of about $1.38 billion. This reserve did not prevent COIN stock from losing nearly 60% from its annual high of $342.80, before closing at $137.83 on Monday. In the third quarter, revenue fell 35% year over year to $1.22 billion, while transaction fees dropped 44% to $590 million. Net income nevertheless rose 66% to $719 million, mainly thanks to valuation gains on the cryptocurrencies held by the company. Morgan Stanley lowered its price target to $120, while Ark Invest bought 24,790 Coinbase shares and CEO Brian Armstrong and two other executives announced plans to sell shares worth about $2 billion.
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