Coinbase Global, Inc. (NASDAQ:COIN) will release earnings results for the third quarter, after the closing bell on Thursday, Oct. 30.Analysts expect the New York-based company to report quarterly earnings at $1.1 per share, up from 28 cents per share in the year-ago period. The consensus estimate for Coinbase's quarterly revenue is $1.8 billion, compared to $1.21 billion a year earlier, according to data from Benzinga Pro.The company missed analyst estimates for revenue in two straight quarters, but beat es ...

Group 1 - Coinbase Global Inc. has been upgraded to Overweight by JPMorgan analyst Kenneth Worthington, with a new price target of $404, increased from $342, indicating a compelling valuation compared to rivals [1][2] - The expected exploration of a Base token and the expansion of USD Coin payouts are seen as catalysts for growth [1] - The launch of the Coinbase US Bitcoin Yield Fund aims to generate stable revenue streams for accredited US investors, addressing concerns about revenue diversification [2] Group 2 - Mizuho Securities analyst Dan Dolev also upgraded Coinbase Global to a Buy with a price target of $404, aligning with JPMorgan's assessment [2] - Coinbase operates a platform for crypto assets both in the US and internationally, highlighting its significant market presence [3]

Core Insights - Jupiter Exchange launched Limit Order V2 on October 29, an upgraded trading system on the Solana blockchain targeting both beginners and professional traders [1] - The new system enhances control and precision for traders by automating entries and exits while protecting positions privately [1] Privacy Protection - All V2 orders are privacy-protected to prevent front-running, keeping orders confidential until the trigger price is reached [2] - The privacy mechanism addresses vulnerabilities in decentralized exchanges, where pending transactions can be exploited through front-running attacks [3] - The V2 system conceals order details until execution conditions are met, providing an additional layer of protection against miner extractable value (MEV) issues [4] New Order Types and Pricing Options - Traders can set limit orders based on a token's USD price or market cap, eliminating manual conversions [5] - The V2 system corrects the execution of Buy Above and Stop Loss orders, ensuring they only execute when the market reaches the specified limit price [5] Advanced Trading Features - The platform supports bundled orders through a One-Cancels-Other mechanism, allowing traders to set both Take Profit and Stop Loss on a single position [6] - Instant editing of live orders is enabled, allowing traders to update active orders without needing to cancel and resubmit [6] Ecosystem Expansion - The launch of V2 coincides with Jupiter's ecosystem expansion, including a partnership with Ethena Labs to introduce the JupUSD stablecoin in 2025 [7] - The Solana network is gaining institutional interest, with Western Union planning to launch its exclusive USDPT stablecoin by mid-2026 [7]

Core Viewpoint - Coinbase Global Inc is expected to report strong trading volume and financial results for the third quarter, driven by Bitcoin reaching new highs during this period [1][8]. Earnings Estimates - Analysts predict Coinbase will report third-quarter revenue of $1.79 billion, an increase from $1.21 billion in the same quarter last year [2]. - The expected earnings per share (EPS) for the third quarter is $1.13, up from 73 cents per share in the previous year [3]. Analyst Insights - Several analysts have lowered their price targets for Coinbase ahead of the earnings report, with Rosenblatt's Chris Brendler reducing the target from $470 to $450 while maintaining a Buy rating [4]. - Brendler noted that the third-quarter results may be less significant than future guidance, particularly regarding the Derebit acquisition [5]. - BTIG initiated coverage on Coinbase with a Buy rating and a price target of $410, highlighting the company's potential to bridge crypto and traditional finance [6]. Growth Areas - Analysts identified three major growth areas for Coinbase: the development of the Base App, stablecoin adoption, and the rapid scaling of the derivatives business [7]. - The company has diversified its revenue streams in recent quarters, which could enhance its financial stability [7]. Key Items to Watch - The report will cover the months of July, August, and September, during which Bitcoin reached an all-time high of over $123,000 in August, likely contributing to strong trading volumes [8]. - The results may influence investor sentiment and trading behavior following the earnings announcement [8]. Regulatory Environment - Coinbase CEO Brian Armstrong has been actively advocating for cryptocurrency regulation, expressing optimism about a potential bill being passed by the end of 2025 [9]. Recent Acquisitions - Coinbase completed the acquisition of Derebit in the third quarter and is also acquiring blockchain fundraising platform Echo for $375 million, which may impact future guidance and financial outlook [10]. Recent Performance - Following a second quarter with declines in transaction revenue, subscription and services revenue, and trading volume, Coinbase aims to demonstrate a rebound in these areas for the third quarter [11].

Gate Ventures Acquires ADEN to Expand Web3 Derivatives Ecosystem. Photo by BeInCrypto Gate Ventures, the venture capital arm of the Gate Group, has announced the acquisition of ADEN, a decentralized perpetual exchange (Perp DEX). The transaction represents a strategic step in expanding Gate’s presence in decentralized derivatives trading and supports the company’s ongoing “All in Web3” initiative, which focuses on infrastructure innovation and ecosystem development. The integrated ADEN platform is expect ...

Core Insights - Coinbase is evolving from a traditional crypto exchange into a comprehensive ecosystem that supports the industry's core infrastructure by 2025 [1] - Despite a pro-regulation stance that may have affected its market ranking, Coinbase remains a significant player in the crypto space, generating over $2.4 billion in 24-hour trading volume as of October 25, which is approximately 10 times less than Binance and Gate [2] - Analysts are cautiously optimistic about Coinbase's Q3 2025 earnings, expecting a year-on-year revenue growth of 44% to over $1.76 billion and a net income increase of 150% to over $400 million [5] Company Performance - Coinbase's trading volume is significantly lower than competitors, but its compliance efforts help mitigate risks associated with wash trading, which has hindered the approval of spot Bitcoin and Ethereum ETFs [2] - The company has expanded its offerings to include popular Solana meme coins, reflecting the growing demand for diverse crypto services [3] - The upcoming Q3 2025 earnings report is highly anticipated, especially following the recent earnings releases from major tech companies [4] Market Dynamics - Rising cryptocurrency prices are expected to drive trading revenue, alongside income from subscriptions and institutional services like staking and custody [6] - Monthly transacting users (MTUs) are projected to exceed 8.5 million, indicating a potential revival in retail trading activity [6] - In Q2 2025, Coinbase's MTUs fell short of estimates by 10%, suggesting that a rebound in Q3 could signal improved market conditions [7]

Defunct Bitcoin exchange Mt. Gox started to repay creditors two years ago, more than a decade after the company went bankrupt. But on Monday, the deadline to complete the return of billions of dollars worth of Bitcoin was pushed back by a full year to October 31, 2026.  Around 19,500 creditors have been repaid so far, but many others are waiting in the wings for funds they lost all the way back in 2014. The first batch of repayments in 2024 led to a sharp sell-off, as the refunded Bitcoin was immediately so ...

Core Insights - Citigroup and cryptocurrency exchange Coinbase are collaborating to develop digital asset payment solutions for Citigroup's institutional clients, with plans to expand these offerings to global clients in the future [1] Group 1 - The collaboration aims to enhance payment solutions in the digital asset space [1] - Citigroup's focus is on serving its institutional clients initially, indicating a targeted approach to market entry [1] - Future expansion plans suggest a strategic vision for global reach in the digital asset payment solutions market [1]

Core Insights - Coinbase Global (COIN) has acquired Echo in a cash-stock transaction valued at $375 million, enhancing its capabilities in onchain capital raising [1][7] - This acquisition follows COIN's previous purchases of Deribit and Liquifi, positioning the company as a comprehensive service provider in the crypto space [1][3] - COIN aims to offer an all-inclusive solution for crypto projects, covering everything from launch to fundraising and secondary trading [1][7] Acquisition Strategy - COIN is focusing on inorganic growth through strategic acquisitions to broaden its capabilities and diversify revenue streams [3][7] - The acquisition of Echo complements the earlier acquisition of Liquifi, which allows COIN to support builders from the start of their journey to fundraising [1][3] Market Positioning - COIN believes in the future of finance being on-chain and is actively enhancing the utility of crypto through its Base platform [2] - The company is positioning itself as a leader in the digital asset market by accelerating entry into growth verticals through these acquisitions [3] Peer Comparison - Robinhood Markets (HOOD) is also pursuing growth through strategic acquisitions, expanding its global crypto reach and enhancing institutional services [4] - Interactive Brokers Group (IBKR) has made strategic acquisitions to improve its technology and client network, strengthening its competitiveness [5] Financial Performance - COIN's shares have increased by 42.8% year to date, outperforming the industry [6] - The company's price-to-earnings ratio stands at 56.31, significantly above the industry average of 24.14, indicating an expensive valuation [9] Earnings Estimates - The Zacks Consensus Estimate for COIN's third-quarter and fourth-quarter 2025 EPS has seen upward adjustments of 3% and 0.9%, respectively [10] - Revenue estimates for 2025 and 2026 indicate year-over-year increases, although the EPS estimate for 2026 shows a decline [12]

Core Points - Mt. Gox's rehabilitation trustee has postponed creditor repayments to October 31, 2026, due to many creditors not completing necessary procedures [1] - The Tokyo court approved the extension, which is part of a lengthy restitution process for the defunct exchange [1][4] - Approximately 19,500 creditors have received repayments, while around 24,000 creditors are estimated to be involved in the recovery of roughly $9 billion in Bitcoin and Bitcoin Cash [2][4] Summary by Sections Repayment Process - The repayment process has been significantly delayed, with multiple extensions since Mt. Gox's collapse in 2014 [4] - The latest extension was announced in September 2023, moving the deadline from October 2023 to October 2024 [5] - The rehabilitation trustee indicated that most base and early repayments for verified creditors have been completed, but many remain unpaid [2] Financial Status - Mt. Gox currently holds approximately 34,689 BTC, valued at nearly $4 billion at current prices [2] - The efforts to recover lost funds began in 2021 when the Tokyo District Court approved a civil rehabilitation plan [4] Market Impact - The announcement of repayment timelines has previously triggered market reactions, including a selloff in Bitcoin prices [6]