Coinbase brought in $1.9 billion in revenue in the third quarter, up 58% from last year, as crypto trading activity returned and ethereum prices climbed. The exchange beat analyst expectations, driven by a sharp rise in both retail and institutional volumes.

Core Scientific shareholders have voted to reject a $9 billion acquisition offer from CoreWeave, opting to keep the data center operator independent amid rising AI demand.

Ondo Finance has partnered with Chainlink to supply pricing and dividend data for more than 100 tokenized stocks and ETFs, helping standardize valuations across 10 blockchains.

Top stories in the Crypto Roundup today:

• Coinbase Revenue Soars to $1.9B in Q3 as Trading Rebounds, Base Network Turns Profitable
• Core Scientific Shareholders Reject $9B Takeover Bid From CoreWeave
• Ondo Finance Picks Chainlink to Power Price Data for 100+ Tokenized Stocks

Coinbase Revenue Soars to $1.9B in Q3 as Trading Rebounds, Base Network Turns Profitable

Coinbase brought in $1.9 billion in revenue in the third quarter, up 58% from last year, as crypto trading activity returned and ethereum prices climbed. The exchange beat analyst expectations, driven by a sharp rise in both retail and institutional volumes.

Transaction revenue, the company’s core business line, hit $1 billion, up from $573 million a year ago. Retail users led the surge, with their trading volume rising 37% from the previous quarter.

Coinbase also confirmed its Layer 2 blockchain, Base, turned profitable. Lower fees were offset by higher ethereum prices and growing usage, especially among developers building onchain apps.

Outside of trading, subscription and services revenue rose 14% to $747 million. Stablecoin-related activity brought in $355 million, helped by record-high USDC balances on the platform.

Coinbase ended the quarter with $11.9 billion in cash, boosted by a $3 billion debt raise.

Core Scientific Shareholders Reject $9B Takeover Bid From CoreWeave

Core Scientific shareholders have voted to reject a $9 billion acquisition offer from CoreWeave, opting to keep the data center operator independent amid rising AI demand.

The vote ends months of uncertainty around the proposed deal, which faced resistance from Core Scientific’s backers and proxy firms who argued the offer undervalued the company. 

Proxy adviser Glass Lewis said staying independent could offer more upside as AI infrastructure spending accelerates. CoreWeave, which supplies computing power to companies like OpenAI, had said it wouldn’t raise its bid.

Soon after the vote, CoreWeave announced a new acquisition: AI software startup Marimo. Terms weren’t disclosed.

Ondo Finance Picks Chainlink to Power Price Data for 100+ Tokenized Stocks

Ondo Finance has partnered with Chainlink to supply pricing and dividend data for more than 100 tokenized stocks and ETFs, helping standardize valuations across 10 blockchains.

The assets, worth over $320 million, target non-U.S. investors seeking exposure to U.S. equities. Chainlink’s Cross-Chain Interoperability Protocol (CCIP) will allow this data to move securely across networks.

The collaboration also ties into broader industry efforts: Chainlink will join Ondo’s Global Market Alliance, while Ondo joins Chainlink’s corporate actions group alongside Swift and Euroclear.

State of the Crypto by Top Tier Exchange Volume

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