Data: Coinbase's trading revenue share has dropped to about 50%, transitioning from cyclical trading revenue to recurring revenue

2025-02-18 12:15:51

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ChainCatcher news, according to crypto analyst arndxt, the revenue structure of the cryptocurrency exchange Coinbase is undergoing significant changes. Data shows that the platform's trading revenue share has decreased from over 90% in 2021 to about 50% in the third quarter of 2024.

Specifically, the share of stablecoin revenue has reached 20%, mainly from USDC reserve earnings obtained in partnership with Circle; the share of blockchain staking rewards revenue has reached 14%, coming from staking service fees for networks like Ethereum and Solana; and interest income accounts for 5%, benefiting from earnings generated by user deposits.

This shift in revenue structure indicates that Coinbase is transitioning from cyclical trading revenue to recurring revenue.

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