Coinbase posts first quarterly profit in a year as revenue falls around 35% from a year earlier

Coinbase posted $1.22 billion in third-quarter revenue, down around 35% from a year earlier and matching analysts' estimates, Bloomberg reports. Net income rose about 66% to $719 million, or $2.51 a share, after three quarters of losses. Bloomberg says the profit reflected an unrealized gain on Coinbase's crypto holdings.