According to the source, Coinbase’s Q3 net income reportedly reached $432.6 million, attributed to a jump in trading volumes and stablecoin-related revenue; traders should verify this figure against Coinbase’s official Q3 2025 Shareholder Letter and Form 10-Q before acting. Source: Coinbase Investor Relations; SEC EDGAR. Stablecoin revenue at Coinbase is primarily interest income tied to USDC reserves and prevailing cash yields, making earnings sensitive to rate levels and USDC supply, as disclosed in prior filings. Source: Coinbase 2023 Form 10-K; Coinbase Q2 2024 Shareholder Letter. Transaction revenue historically tracks crypto spot volumes and volatility, so a confirmed rise in Coinbase volumes would imply stronger underlying activity in BTC and ETH and potentially tighter exchange spreads and improved liquidity. Source: Coinbase 2023 Form 10-K; Kaiko Research. For trade setup and confirmation, monitor COIN stock reaction, BTC and ETH intraday spot volumes, and USDC market cap/flows to gauge follow-through in exchange activity and risk appetite. Source: Nasdaq (COIN); TradingView; USDC transparency reports (Circle).