Coinbase Q3 Revenue Surges 58% Year-Over-Year to $1.9 Billion

Digital asset platform delivers explosive growth despite regulatory headwinds

Revenue Rocket

Coinbase just posted $1.9 billion in third-quarter revenue—smashing expectations with a 58% year-over-year surge that left traditional finance players scratching their heads. The crypto exchange continues to demonstrate remarkable resilience while Wall Street analysts debate whether this is sustainable growth or just another bubble waiting to pop.

Market Momentum

While legacy financial institutions struggle with compliance overhead and bureaucratic inertia, Coinbase keeps minting money in the digital asset space. The platform's performance suggests crypto adoption isn't slowing down—it's accelerating, regardless of what the suits in traditional finance want to believe.

They say past performance doesn't guarantee future results, but in crypto, past performance doesn't even guarantee you'll recognize the landscape next quarter. Maybe traditional banks should stop worrying about blockchain disruption and start worrying about becoming irrelevant.

Bitcoin (BTC) has managed to hold its ground around $108,850 following a notable interest rate cut by the Federal Reserve, which reduced rates from 4.25% to 4.00%, according to CryptoNews. This monetary policy adjustment introduced short-term volatility in markets, with traders closely monitoring $108,900 as a critical support level for BTC.

Germany’s Opposition Advocates for Bitcoin as a National Asset

In a significant development, Germany's largest opposition party, Alternative for Germany (AfD), has proposed recognizing Bitcoin as a strategic national asset. The party is pushing for BTC to be treated separately from other cryptocurrencies under the EU’s Markets in Crypto-Assets (MiCA) regulatory framework. The motion emphasizes maintaining VAT exemptions, protecting self-custody rights, and preserving the 12-month tax exemption for Bitcoin profits, which currently favor long-term holders.

The proposal suggests adding bitcoin to Germany's national reserves, akin to central banks' gold holdings. This move aligns with recent discussions in France aimed at creating a more crypto-friendly environment to boost investment and strengthen Europe's blockchain sector. Investors see this as a sign of increasing political acceptance for Bitcoin across Europe, potentially leading to broader institutional recognition.

TeraWulf's Strategic Shift to AI

Bitcoin miner TeraWulf has announced plans to raise $500 million through a convertible note offering to establish an AI-focused data center in Abernathy, Texas. The initiative marks a strategic pivot from Bitcoin mining to artificial intelligence infrastructure, leveraging existing energy and hardware resources to meet the rising demand for GPU-powered computing.

This shift follows TeraWulf’s previous financing rounds, including a $3 billion funding with Morgan Stanley and a $1.4 billion Google guarantee. The decision is seen as a diversification strategy to enhance the long-term stability of crypto mining firms amid evolving market dynamics. The news contributed to a slight uptick in Bitcoin prices as traders viewed the transition positively.

Binance and Bubblemaps Collaborate for Enhanced Transparency

Binance has partnered with blockchain analytics firm Bubblemaps to enhance transparency and detect insider trading. This collaboration allows users of Binance's Web3 Wallet to visualize token distribution and identify suspicious wallet connections using Bubblemaps’ interactive interface, known for uncovering the $30 million MELANIA token scandal.

The partnership aims to make crypto trading safer and more transparent, providing investors with improved insights into token ownership patterns. The initiative is welcomed by market participants as a step towards greater industry accountability.

Technical Outlook: Bitcoin's Resilience at Key Support Levels

Bitcoin's price prediction remains cautious as the cryptocurrency hovers near $108,850, just above the critical support level of $108,900, which aligns with the 23.6% Fibonacci retracement. This level has acted as a reliable demand zone in recent weeks. Technical indicators suggest that a daily close above $110,700 could lead to a recovery toward $112,200–$114,950, while a breach below $108,900 might expose BTC to further declines down to $106,100–$103,500.

Traders are favoring long positions above $109,000, targeting $114,950, as oversold momentum hints at a potential rebound into November.

• bitcoin
• federal reserve
• germany
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