Part 1 Advanced The Market Maker’s Exchange Checklist (Liquidity, Latency, and Risk Controls) Market makers and HFT desks: evaluate exchanges on execution quality, liquidity, latency, fees, margin, and security — with a WhiteBIT walkthrough. Open guide This article is more than 2 years old...
Coinbase sees more revenue from subscriptions, services than fees
Transactional revenue takes a backseat as Coinbase rides the wave of subscriptions and services.
Coinbase, the largest cryptocurrency exchange in the U.S., recorded more revenue from subscriptions and services than transaction fees in Q2 2023.
The pivot is evident in data from Kaiko that suggests a significant dip in transactional revenue from Q3 2022 onwards. Historically, Coinbase's revenue model was heavily reliant on transaction fees, which constituted the majority of its earnings from 2020 to 2022.
According to Kaiko, Coinbase's trading volume slid to its lowest ebb since Q4 2020, primarily due to a decrease in institutional trading.

















