How does Coinbase print?
Trading fees when volume is hot. Subscription and services when it is not. Interest on the float.
A public exchange. The book breathes with the tape.
The mix
- TransactionTrading fees.52%
- Subscription & servicesPrime, staking, Cloud.30%
- Interest / otherStablecoin and float.18%
Coinbase reported mix. Transaction still leads in hot tapes.
Who pays
Retail and institutions who trade. USDC and Prime on the side.
Who builds
Exchange, custody, and compliance. Crypto SWE is a real seat.
