Coinbase profits plunge as retail traders lose their appetite for self-destruction

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The post Coinbase profits plunge as retail traders lose their appetite for self-destruction appeared first on CoinGeek.

Overall trading volume tumbled 28% to $226 billion, while transaction revenue fell 27% to $781 million.

Blockchain rewards aka staking rose 22.6% to $185 million, while additional gains came from interest/finance fees ($69.4 million, +4%), custodial fees—including from BTC/ETH exchange traded funds (ETFs) ($34.5 million, +6.8%) and ‘other’ ($69.6 million, +9.2%).

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Article Details

Author / Journalist: Steven Stradbrooke

Category: Crypto

Markets: CanadaArgentinaBahamasBrazilEthiopiaIndiaJapanPakistanSouth AfricaTaiwan

Topics: Base Defend American Jobs Business Elections Fairshake USDC United States Molly White Circle Brian Armstrong USDT Stablecoins Coinbase Wallet Coinbase Crypto Crime Cartel

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-02 @ 13:00:50 (3 days ago)

News Timezone: GMT +8:00

News Source URL: coingeek.com

Language: English

Article Length: 1924 words

Reading Time: 11 minutes read

Sentences: 71 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGeek

News ID: 21928773

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