Tough times in the cryptocurrency market don't stop whales from making huge amounts of money. Large exchanges like Coinbase.
According to Bloomberg, the income of the main American exchanger this year will be about 1,3 billion dollars.
The success of the company is very different from what is happening in the industry. Recall, recently, Bitcoin volatility dropped to a two-year low.
How Coinbase makes money
According to AMBCrypto, the total cost of the Coinbase is estimated at 8 billion dollars. The net profit of companies since the beginning of 2018 was 456 million dollars. During the same period in 2017, the exchange managed to earn a little less - 380 million dollars. Coinbase Chief Operating Officer Asif Hirji commented on the situation.
Companies that invest in our business know that it will be at the forefront of the next wave of technology innovation. It was a stage of opportunism. Now we do not have to go and declare ourselves to raise capital.
It turns out that until recently, representatives of Coinbase refused to cooperate with people who do not believe in the potential of cryptocurrency.
Previously, we were not interested in raising funds from companies that do not have a constructive view of the digital assets industry. The future of a crypt is more than just rising coin prices.
It is noteworthy that Coinbase activity dropped significantly compared to 2017 year. In a recent report of the research firm Diar there are not very encouraging numbers. The total amount of trade transactions on the stock exchange fell by 80 percent to 1,9 billion dollars. Worst of all, it affected the liquidity of Ethereum - the volume of coins fell from 8,5 billion to 778 million dollars.