Coinbase Q3 Earnings & CEO Insider Selling
Coinbase reported Q3 revenue down 35% YoY to $1.22B but beat on EPS and EBITDA; CEO Brian Armstrong simultaneously filed a 10b5-1 plan to sell $1.31B in shares through Oct 2027, joined by co-founder Ehrsam and COO Choi.
What we know
An account on X provided the headline numbers: revenue $1.22B (-35% YoY), EPS $2.51 (vs -$0.06 estimate), transaction revenue $590M, USDC held on platform hit an all-time high averaging $22B in Q3 per @coinbase. Prediction markets surpassed $200M in annualized revenue per @TheBlockCo. Simultaneously, another account on X reported Armstrong's 10b5-1 plan to sell up to 8.17M shares (~$1.31B) through Oct 2027, with co-founder Ehrsam selling up to 3.87M and COO Choi up to 1.56M shares. Another account on X sarcastically noted '100% of his shares btw.' another account on X linked the insider selling to Base season hype. Coinbase is also building a unified global regulated exchange relaunching Coinbase Pro with perps, options and futures per @CoinbaseMarkets.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.