Coinbase’s third-quarter net income was $590 million, with a net loss of about $545 million

Coinbase announced its financial report for the third quarter of 2022. The financial report shows that Coinbase's net income in the third quarter was US$590 million, a decrease of 54.6% from the third quarter of last year (US$1.3 billion), and its net loss was approximately US$545 million. Total trading volume reached $159 billion, down nearly 50% year-on-year, with institutional trading volume accounting for 84% of total trading volume at $133 billion, while retail trading volume was only $26 billion. In addition, the encrypted assets on Coinbase are about 255 billion US dollars, with 7.5 million monthly active users. Foresight News previously reported that Coinbase had net income of $803 million in the second quarter and a net loss of about $1.1 billion.