9/16/2023 0 Comments Binance vs binance usSBF, as he’s known in the crypto world, has been pulling out all the stops to broaden its appeal to the average retail investor, including introducing zero-fee U.S. Coinbase entered the derivatives business for the first time last month, while FTX launched an institutional trading platform in March this year. Retail investors comprise around 95% of Coinbase’s transaction revenue, although institutions account for most of its trading volume, according to its latest quarterly filing.įTX is best-known for catering to more sophisticated traders through its derivatives offering, which makes up the majority of its volume - a natural fit for the exchange given its founder and chief executive Sam Bankman-Fried’s background working at a quant hedge fund. The three crypto giants all have different established customer bases and are trying to steal each other’s market share. Now, sensing Coinbase’s moment of weakness, the two largest crypto exchanges in the world by volume (Coinbase is third globally) - Binance and FTX - are hoping to seize their opportunity stateside. Its competitors, though, have been lying in wait for their moment to close in on the U.S. The exchange got over its skis quicker than even Coinbase itself probably imagined, a point evidenced by its decision to rescind job offers last month from candidates who had already accepted them. Its trading volumes and number of monthly transacting users were both down from Q4 last year - bad news for a company that depends heavily on transaction fees for its revenue. ![]() ![]() The company posted a $430 million loss in the first quarter of 2022, underperforming Wall Street analysts’ expectations. But as the going gets tough in the crypto markets, the company seems to be fumbling the bag, leaving it vulnerable to competition.Ĭoinbase’s stock price is down nearly 80% from where it started the year and it recently made headlines for laying off one-fifth of its staff. As the largest publicly traded crypto exchange in the United States, Coinbase has become something of a household name.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |