Coinbase Drives Record Q3 2025 Earnings: Growth Fueled by Derivatives and Stablecoins

Coinbase has delivered robust Q3 2025 financial results, exceeding expectations and showcasing a strong position in the evolving crypto landscape. Driven by record derivatives activity and increased stablecoin revenue, the company generated $1.9 billion in revenue, marking a 25% quarter-over-quarter increase. This surge reflects growing institutional interest, as highlighted by CEO Brian Armstrong’s emphasis on innovative product development in his Q3 2025 Shareholder Letter. The integration of the Deribit acquisition played a significant role in driving institutional trading revenue.