Coinbase swings to Q3 profit on crypto gains, beats revenue estimates

Coinbase posted $719 million in Q3 net income, driven by $715 million in crypto asset gains. Revenue of $1.22 billion met expectations but fell 35% from a year earlier. Transaction revenue slipped 1% to $590 million, while prediction markets surpassed $200 million in annualized revenue and subscription services hit $570 million.