Coinbase’s operating measures improve, with investment gains lifting headline profit
Coinbase ($COIN) reported third-quarter 2026 net income of $719 million, but adjusted net income was $78 million after excluding investment-related gains and their tax effects. The reconciliation includes $715 million of gains on crypto assets held for investment. Adjusted EBITDA rose 60% from the previous quarter to $333 million, providing a different measure of operating performance from headline profit. Subscription and services contributed 49% of net revenue, while the company’s reported cry
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