Coinbase Surges Past $350 on Robust Q3 Performance and Strategic Acquisition Coinbase stock (COIN) is demonstrating a strong recovery, briefly touching the $350 mark this past Friday, October 31st. This upward momentum follows a period of investor apprehension, fueled by a positive third-quarter earnings report and strategic moves signaling the crypto giant's aggressive expansion into the stablecoin market.
Coinbase Eyes $2 Billion Stablecoin Power Play
In a significant development, Coinbase is reportedly in advanced discussions to acquire BVNK, a London-based stablecoin infrastructure company, in a deal estimated to be worth $2 billion. This move, as reported by Bloomberg, is a clear indication of the largest US-based cryptocurrency exchange's ambition to bolster its position within the burgeoning stablecoin industry. Sources close to the matter suggest the acquisition could finalize by year-end or early next year, with Coinbase Ventures already an investor in BVNK. While a Coinbase spokesperson declined to comment on "rumors or speculation," they affirmed the company's commitment to exploring various opportunities – including building, acquiring, partnering, or investing – to advance economic freedom globally. This recent report lends credence to an earlier Fortune disclosure that Coinbase secured exclusivity in takeover talks for BVNK after a competitive bidding process, amidst a landscape seeing increased interest in stablecoin infrastructure, including Mastercard's reported interest in Zerohash for over $1.5 billion. Such developments are particularly timely, arriving on the heels of the proposed GENIUS Stablecoin Act, the first comprehensive crypto regulation introduced in the United States.
Strong Q3 Earnings Fuel Confidence
Beyond strategic acquisitions, Coinbase's impressive third-quarter 2025 earnings have significantly contributed to its stock rebound. Despite CEO Brian Armstrong's list of "crypto buzzwords" hinting at market trends, the company delivered a strong financial performance. Coinbase reported approximately $1.9 billion in revenue and a net profit of around $432.6 million for Q3 2025, marking a substantial 55% year-over-year increase. Furthermore, the firm's Bitcoin holdings saw a notable increase of 2,772 BTC, reaching a total of 14,458 BTC. As of this writing, Coinbase stock (COIN) is valued at approximately $343.78, reflecting a 4.6% jump in the last 24 hours, underscoring investor confidence in its growth trajectory and strategic initiatives.
