Coinbase shares rose 3% after posting strong financial results for the quarter ended Sept. 30. Net income surged to $432.6 million, or $1.50 per share, up from $75.5 million a year ago. Revenue increased to $1.87 billion from $1.21 billion, beating analysts’ expectations of $1.8 billion.

Revenue from transactions reached $1 billion, a 37% increase from the previous quarter. The uptick in trading activity was driven by regulatory easing on digital assets under President Trump and improved U.S.-China trade relations. Coinbase’s revenue from institutional activity soared after acquiring Deribit for nearly $3 billion.

Consumer trading volume hit $59 billion, up 37% quarter-over-quarter. Retail transaction revenue climbed 30% to $844 million. Institutional revenue reached $135 million, a 122% increase, with trading volumes from institutions up 22% to $236 billion in the third quarter.

Read more at CNBC: Coinbase – COIN – earnings report Q3 2025