Coinbase Revenue Plunges 35% in Q3 Despite Rising Profits and USDC Growth
Coinbase stock dropped 1.7% as Q3 revenue fell sharply, though net income and USDC holdings increased.
Coinbase stock dropped 1.7% as Q3 revenue fell sharply, though net income and USDC holdings increased. USDC (USDC) is trading at ₹95.05 ($1.00). This is an original Token Times brief synthesising 3 outlets (The Coin Republic, CoinCodex, The Crypto Basic), plus live market data, as of Sun, 01 Nov 2026 12:15:01 UTC.
The significant revenue decline highlights ongoing challenges for crypto exchanges amid market volatility, while the growth in USDC and prediction markets suggests strategic shifts in Coinbase's business model.
- Coinbase Q3 revenue fell 35% YoY to $1.22B, but net income rose to $719M.
- USDC circulating supply reached $71.9B, indicating stablecoin growth.
- Coinbase stock fell 1.7% despite positive profit figures.
Both The Coin Republic and CoinCodex report that Coinbase's Q3 revenue dropped 35% year-over-year to $1.22 billion, with The Coin Republic specifically noting a $719 million net income and record-high USDC holdings. However, CoinCodex emphasizes the impact of Binance's security breach on the broader crypto market as an additional factor weighing on Coinbase's stock performance.
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- Coinbase Revenue Plunges 35% in Q3 Despite Rising Profits and USDC Growth — this brief
Coinbase's stock faced pressure after the company reported a 35% year-over-year decline in Q3 revenue, dropping to $1.22 billion. Despite the revenue slump, the company managed to increase its net income to $719 million, according to The Coin Republic.
The Coin Republic also highlighted that Coinbase's 
USDC stablecoin holdings and prediction markets have reached new highs, suggesting a strategic pivot towards stablecoin services and derivatives trading. The verified data from DeFiLlama confirms that USDC's circulating supply has grown to $71.9 billion.
CoinCodex attributes the stock's decline to both the disappointing revenue figures and the recent security breach at Binance, which has cast a shadow over the entire crypto industry. This suggests that external factors beyond Coinbase's direct performance are also influencing investor sentiment.
In the broader market context, the total crypto market cap stands at $2.67 trillion, with 
Bitcoin showing a modest 24-hour gain of 0.83%. The overall market remains relatively flat, with a Fear & Greed index of 30 indicating a 'Fear' sentiment among investors.
USDC, Coinbase's stablecoin, is currently trading at $0.999866, with minimal price movement over the past week. The stablecoin's market cap of $71.73 billion reflects its growing importance in the crypto ecosystem.
Since this brief published about 25 hours ago, USDC (USDC) has moved from ₹95.04$0.9999 to ₹95.05$1.00 — +0.01%.
The chart plots USDC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 USDC ≈ ₹103.51 (about $1.00), up 0.0% over 24 hours. The rupee itself trades about 8.9% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 31, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Coinbase Revenue Plunges 35% in Q3 Despite Rising Profits an — questions & answers
Why did Coinbase's stock drop despite increased profits?
The stock drop is attributed to a 35% revenue decline and broader market concerns, including Binance's security breach.
What is the current status of USDC?
USDC's circulating supply is $71.9 billion, indicating steady growth.
How did Coinbase's other business segments perform?
Prediction markets and USDC holdings reached new highs, suggesting strong performance in these areas.
How much is 1 USDC worth in rupee today?
About ₹103.51 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $1.00. The rupee price moves with both USDC's US-dollar price and the USDT/INR rate; use our USDC in rupee page for any amount.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from The Coin Republic, CoinCodex, The Crypto Basic, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.