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  • Coinbase Shares Slump After Big Q3 Earnings Miss on ‘Softer’ Market Condition
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Coinbase Shares Slump After Big Q3 Earnings Miss on ‘Softer’ Market Condition

cryptovert October 31, 2024 1 min read

“Really
solid
results
across
the
board,
I
think
quarter
to
quarter,
you
definitely
see
volatility
playing
a
role
in
trading
revenues
and
we
saw
that
play
out
with
softer
market
conditions
in
Q3
but
we’re
overall
happy
with
the
results,”
Anil
Gupta,
vice
president
of
investor
relations,
told
CoinDesk.

The
company
also
said
that
it
authorized
up
to
$1
billion
share
buyback
in
October.
The
repurchase
doesn’t
have
any
expiry
date
and
the
firm
will
purchase
shares
depending
on
the
market
conditions.

“We
grew
our
balance
sheet
by
over
$400
million
that’s
put
us
in
a
position
to
issue
this
new
share
buyback
program,”
Gupta
said.
The
company
ended
the
third
quarter
with
$8.2
billion
in
cash,
cash
equivalents
and
USDC.

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