Founded in 2012 by Ex Airbnb Software Engineer Brian Armstrong and Fred Ehrsam, trader at Goldman Sachs, in an effort to simplify bitcoin trading, Crypto-exchange Coinbase's IPO heralds crypto's arrival on the stock market.
In 2020, 86% of Coinbase's revenue came from trading commissions. In Q1 2021, its transaction fee was 46bps. Competitors such as Gemini, Bitstamp, Kraken and Binance may pressure these fees downwards.
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