Coinbase CEO turns earnings call into unexpected jackpot for prediction market traders

Coinbase CEO turns earnings call into unexpected jackpot for prediction market traders

Coinbase reported 37% surge in Q3 revenue on Thursday.

Vivian Nguyen

Powered by Gloria

Updated 1:24 p.m. ET

Coinbase CEO Brian Armstrong surprised listeners during the company’s third-quarter earnings call on Thursday after mentioning nearly every keyword that prediction market traders had wagered he would say.

“I was a little distracted because I was tracking the predictions market about what Coinbase will say in their next earnings call,” said Armstrong as he wrapped up Coinbase’s earnings call, “and I just want to, you know, add here, the words Bitcoin, Ethereum, blockchain, staking, and web3, to make sure we get those in before the end of the call.”

The moment inadvertently handed a win to Kalshi and Polymarket bettors.

Coinbase reported steady growth in Q3 with a 37% increase in transaction revenues reaching $1 billion, driven by a rebound in trading volumes, which touched $295 billion. Total revenue for the quarter escalated to $1.9 billion with a net income of $433 million.

Armstrong confirmed that Coinbase had added 2,772 BTC valued at over $300 million during the quarter. With 14,548 BTC currently on its balance sheet, the company ranks in the top ten public companies in terms of Bitcoin holdings.

Coinbase CEO turns earnings call into unexpected jackpot for prediction market traders

Coinbase CEO turns earnings call into unexpected jackpot for prediction market traders

Coinbase reported 37% surge in Q3 revenue on Thursday.

by Vivian Nguyen | Powered by Gloria

Coinbase CEO Brian Armstrong surprised listeners during the company’s third-quarter earnings call on Thursday after mentioning nearly every keyword that prediction market traders had wagered he would say.

“I was a little distracted because I was tracking the predictions market about what Coinbase will say in their next earnings call,” said Armstrong as he wrapped up Coinbase’s earnings call, “and I just want to, you know, add here, the words Bitcoin, Ethereum, blockchain, staking, and web3, to make sure we get those in before the end of the call.”

The moment inadvertently handed a win to Kalshi and Polymarket bettors.

Coinbase reported steady growth in Q3 with a 37% increase in transaction revenues reaching $1 billion, driven by a rebound in trading volumes, which touched $295 billion. Total revenue for the quarter escalated to $1.9 billion with a net income of $433 million.

Armstrong confirmed that Coinbase had added 2,772 BTC valued at over $300 million during the quarter. With 14,548 BTC currently on its balance sheet, the company ranks in the top ten public companies in terms of Bitcoin holdings.