Coinbase Reports Q3 Revenue Misses Estimates as Monthly Users Decline, CEO Announces Share‑Sale Plan

Coinbase’s third‑quarter revenue was $1.20 billion, $33 million below analysts’ $1.233 billion forecast, while monthly transacting users fell to 7.4 million from 9.3 million a year earlier. Subscription and services revenue rose to $570 million, and the company’s share of crypto trading volume increased to 10.7%, its fourth consecutive quarter of gains. Adjusted EBITDA reached $332.9 million, marking the 15th straight profitable quarter on that metric. CEO Brian Armstrong has set up a Rule 10b5‑1 plan to sell up to 8.17 million Class A shares between November 16 and October 2027, with co‑founder Fred Ehrsam and President Emilie Choi holding similar plans, totaling about 13.6 million shares. Coinbase stock fell roughly 15% on the day, amid broader market volatility triggered by a Binance security breach that reportedly cost $6.3 billion.