700萬。我們繼續密切管理我們的開支，我們對今年迄今的進展感到滿意。本季末，我們共有 4,714 名員工，季減 11%。我們預計第四季度的員工人數將相對持平。產出：標題：Coinbase Global (COIN) 2024 年第三季財報電話會議

Coinbase Global (COIN -3.61%)2024 年第三季財報電話會議，美國東部時間 2024 年 10 月 30 日下午 5:30

was $391 million. Our total expenses were within the outlook ranges we provided last quarter, and we continue to exercise expense discipline across the business. We ended the quarter with 4,848 full-time employees, up 150 from last quarter.

為 3.91 億美元。我們的總費用在我們上季度提供的展望範圍內，並且我們繼續在整個業務範圍內實行費用紀律。本季末，我們有 4,848 名全職員工，比上季增加 150 名。

And as we shared last quarter, we expect Q4 headcount to be largely flat sequentially. Now moving on to our balance sheet. Our total USD resources were $8.2 billion, up 5% quarter over quarter. We ended the quarter with $3.3 billion of cash and cash equivalents, which is down slightly quarter over output. And our total crypto assets were $4.9 billion, up 8% quarter over quarter.

正如我們上季度分享的那樣，我們預計第四季度員工人數將基本持平。現在轉向我們的資產負債表。我們的美元資源總額為 82 億美元，季增 5%。本季結束時，我們的現金和現金等價物為 33 億美元，比產出略有下降。我們的加密資產總額為 49 億美元，季增 8%。

Our total assets were $11.8 billion, up 4% quarter over quarter. And finally, our total liabilities were $3.6 billion, down 1% quarter over quarter. So to conclude, we're pleased with our third quarter performance. We continue to make progress on our three financial priorities for the year, and we're excited about the opportunities ahead.

我們的總資產為 118 億美元，季增 4%。最後，我們的總負債為 36 億美元，季減 1%。總而言之，我們對第三季的業績感到滿意。我們繼續在今年的三項財務優先事項上取得進展，我們對未來的機會感到興奮。

And with that, I'll turn it over to Anil for Q&A.

接下來，我會將其交給 Anil 進行問答。

Anil Gupta -- Vice President, Investor Relations

阿尼爾古普塔－投資人關係副總裁

Thanks, Alesia. We'll now open it up for questions. First, we'll take questions from our shareholders on the Say platform. And then we'll take questions from our research analysts. [Operator instructions] Our first question is from a shareholder on the Say platform.

謝謝，阿萊西亞。我們現在將開放提問。首先，我們將在 Say 平台上回答股東的提問。然後我們將回答研究分析師的問題。 【操作說明】我們的第一個問題來自Say平台的一位股東。

Go ahead.

前進。

Shareholder

股東

Hi, Coinbase team. I'm curious about your thoughts on the recent SEC proposal to ban payment for order flow. I'm wondering if you could share your perspective on how this might impact Coinbase's revenue and what steps you're taking to prepare for potential changes in the regulatory landscape.

大家好，Coinbase 團隊。我很好奇您對美國證券交易委員會最近禁止訂單流支付的提議有何看法。我想知道您是否可以分享您對這可能如何影響 Coinbase 收入的看法，以及您正在採取哪些措施來應對監管環境的潛在變化。

Brian Armstrong -- Co-Founder and Chief Executive Officer

布萊恩·阿姆斯特朗——聯合創始人兼首席執行官

Sure. Thanks for the question. So we've been following this closely. I think it's an important topic.

當然。謝謝你的提問。所以我們一直密切關注此事。我認為這是一個重要的主題。

I'm not going to comment on the specific proposal, but I'll just give you our general thoughts on payment for order flow, which is something we've been talking about for a long time. We think it's a really important topic. We've been a strong advocate for banning it in crypto for many years now. We think it creates a huge conflict of interest.

我不會對具體的提議發表評論，但我只是給大家提供一下我們對訂單流支付的總體想法，這是我們已經討論了很長時間的事情。我們認為這是一個非常重要的主題。多年來，我們一直大力倡導禁止加密貨幣。我們認為這會造成巨大的利益衝突。

It's not transparent to customers. And we think it's really harmful to markets, especially in a market like crypto where we're trying to build trust and we're trying to get more people to use it. So we think it's a really bad practice, and we're glad to see the SEC finally taking a look at it. We think it should be banned in all markets, not just in crypto.

這對客戶來說並不透明。我們認為這對市場確實有害，尤其是在像加密貨幣這樣的市場中，我們試圖建立信任並試圖讓更多的人使用它。因此，我們認為這是一種非常糟糕的做法，我們很高興看到 SEC 最終對此進行了審查。我們認為它應該在所有市場被禁止，而不僅僅是在加密貨幣領域。

But we're happy to see them starting with crypto. And I think it's going to be a really positive change for the industry.

但我們很高興看到他們從加密貨幣開始。我認為這對這個行業來說將是一個非常積極的變化。

Anil Gupta -- Vice President, Investor Relations

阿尼爾古普塔－投資人關係副總裁

Thanks, Brian. Our next question is from a research analyst. Go ahead.

謝謝，布萊恩。我們的下一個問題來自研究分析師。前進。

Unidentified Analyst

身份不明的分析師

Hi, guys. Thanks for taking my question. I wanted to ask about the institutional side of the business. You mentioned that prime brokerage and Derivatives had outperformed relative to spot.

嗨，大家好。感謝您提出我的問題。我想詢問有關業務的機構方面的問題。您提到大宗經紀業務和衍生性商品業務的表現優於現貨業務。

I was wondering if you could give us a little bit more color on what drove that outperformance and how we should be thinking about the institutional business as we look ahead into 2024.

我想知道您是否能為我們提供更多信息，說明是什麼推動了這種出色的表現，以及在展望 2024 年時我們應該如何考慮機構業務。

Alesia Haas -- Chief Financial Officer

阿萊西亞·哈斯——首席財務官

Sure. So I'll start, and then I'll hand it over to Paul. So as you mentioned, we saw a relative outperformance of our prime brokerage and Derivatives business compared to our institutional spot business.

當然。那麼我就開始吧，然後我會把它交給保羅。正如您所提到的，與我們的機構現貨業務相比，我們的大宗經紀和衍生性商品業務的表現相對優異。

And this was driven by a few factors. First, we saw strong demand for our prime brokerage services from large hedge funds and other institutions, and this was largely driven by their increasing interest in crypto as an emerging asset class. Second, we saw growth in our Derivatives business, which was driven by our efforts to diversify our institutional revenue streams and expand our product offerings.

這是由幾個因素驅動的。首先，我們看到大型對沖基金和其他機構對我們的大宗經紀服務的強勁需求，這在很大程度上是由於他們對加密貨幣作為新興資產類別的興趣日益濃厚。其次，我們看到了衍生性商品業務的成長，這是由我們努力實現機構收入來源多元化和擴大產品供應所推動的。

And third, we saw lower-than-expected institutional spot trading activity, which was partly due to the market conditions during the quarter, which led to lower overall institutional trading revenue compared to our prime brokerage and Derivatives business. Now over to you, Paul, for any additional comments.

第三，我們看到機構現貨交易活動低於預期，部分原因是本季的市場狀況，導致機構交易收入整體低於我們的主經紀商和衍生性商品業務。保羅，現在請您提出任何補充意見。

Paul Grewal -- Chief Legal Officer

Paul Grewal－首席法律官

Yes. I'll just add that we continue to see strong interest from institutions in entering the crypto market, and we're well-positioned to capture this demand with our broad suite of institutional products and services. We're also continuing to enhance our institutional offerings, and we're excited about the growth opportunities ahead in this segment.

是的。我只想補充一點，我們繼續看到機構對進入加密貨幣市場表現出濃厚的興趣，並且我們有能力透過我們廣泛的機構產品和服務來滿足這一需求。我們也正在繼續增強我們的機構產品，我們對這一領域未來的成長機會感到興奮。

Anil Gupta -- Vice President, Investor Relations

阿尼爾古普塔－投資人關係副總裁

Thanks, Paul. Our next question is from a shareholder on the Say platform. Go ahead.

謝謝，保羅。我們的下一個問題來自 Say 平台的一位股東。前進。

Shareholder

股東

Hi, Coinbase team.

大家好，Coinbase 團隊。