How much can prediction market traders rely on Coinbase’s latest earnings report? Turns out, quite a lot. The crypto giant just dropped its Q3 2025 numbers, and prediction markets are buzzing. Net income hit $433 million, but that’s not the whole story. Strip away the $424 million gain from crypto portfolio value changes and the $381 million loss on that Circle investment, and you’re looking at adjusted income of $421 million. Not too shabby.
Coinbase’s Q3 numbers show substantial adjusted income despite portfolio swings and investment losses. Prediction markets have noticed.
October’s looking solid too. Transaction revenue‘s expected to hit about $385 million. Remember Q2? Trading volumes and revenue tanked by 40%. Ouch. But crypto prices stayed higher in Q3, and that changed everything.
The subscription side is booming. Coinbase projects $710 to $790 million in subscription and services revenue. Coinbase 1 subscribers keep signing up. More crypto hodlers, more subscription money. Simple math.
Expenses are climbing though. Fast. We’re talking $925 to $975 million, up a cool hundred mil from last quarter. Half of that jump? Those Darabit and Echko acquisitions. The other half? They’re hiring. A lot. This aligns with their workforce growth to over 4,700 employees as reported in their company highlights.
CEO Armstrong isn’t hiding his M&A appetite either. With US regulators breathing down everyone’s neck, buying innovation might be easier than building it. Smart play? Maybe. Expensive? Definitely.
Sales and marketing costs aren’t coming down anytime soon. Gotta spend money to make money, right? Or at least that’s what they’re telling shareholders.
The regulatory cloud hanging over crypto in the US could slow things down. But the company’s pushing forward anyway. Their Q4 expense growth should moderate as hiring cools off a bit. Investors should establish clear investment goals to navigate these market uncertainties and make informed decisions about Coinbase’s stock.
For prediction market traders watching Coinbase’s every move, these earnings offered plenty to bet on. Transaction revenue is rebounding. Subscriptions are growing. But expenses? They’re soaring too. Place your bets accordingly. Or don’t. This isn’t financial advice, just the cold hard numbers.
