Coinbase Prediction Markets Hit $200M Annualized Revenue in 3Q
Dow Jones05:05
1705 ET - Coinbase's prediction markets business hit a milestone of $200 million in annualized revenue during the third quarter, the company says, adding that the business is one of the company's fastest-growing products yet. Daily traders were up more than 60% from the second quarter, while the business has seen 82% quarterly compound growth since it launched, Coinbase says. "Prediction markets are adding another revenue stream and are less correlated to crypto volatility," CFO Alesia Haas says. The results come days after Robinhood posted similarly rapid growth in its own prediction markets business.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments