News Explorer — How Coinbase Makes Money Has Shifted Since Its IPO

How Coinbase Makes Money Has Shifted Since Its IPO

Coinbase’s second-quarter earnings report may indicate a shift in its revenue streams, with transaction fees potentially being surpassed by its association with USDC stablecoin issuer Circle. While transaction fees accounted for 86% of Coinbase’s revenue in Q1 2021, they have declined to only 46% in Q1 2022. Meanwhile, revenue from subscriptions and services, particularly interest income from USDC reserves, has more than doubled compared to the previous year.

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Decrypt

Elizabeth Warren, Bernie Sanders Demand Crackdown on ‘Crypto Tax Evaders’

Left-leaning lawmakers, including Senators Elizabeth Warren, Bob Casey, Richard Blumenthal, and Bernie Sanders, have urg… Read Summary

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The Block

Robinhood Reports 18% Drop in Crypto Revenue Last Quarter

Robinhood’s transaction-based revenue from cryptocurrencies decreased by 18% in the second quarter, primarily due to a d… Read Summary

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Decrypt

How Coinbase Makes Money Has Shifted Since Its IPO

Coinbase’s second-quarter earnings report may indicate a shift in its revenue streams, with transaction fees potentially… Read Summary

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Blockworks

Google Joins Celo Network as Validator as Blockchain Shifts to an Ethereum Layer-2 Solution

Google Cloud has become a validator on the Celo Network, a layer1 blockchain that aims to provide a mobile-first experie… Read Summary

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The Block

Yuga Labs’ Forge Game Holds Onto Users Twice as Well as Dookey Dash

Yuga Labs’ latest video game, Forge, is retaining twice as many users as its previous title, Dookey Dash. The game has a… Read Summary

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Aug 2, 11:48 am

Decrypt

Amazon Prime Is Giving Out Free NFTs for This Polygon Game

Mojo Melee, an NFT game on Polygon, has partnered with Amazon to offer free NFTs and in-game currency to Amazon Prime su… Read Summary

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Aug 2, 10:55 am

Reuters

FTX Founder Sam Bankman-Fried Hires Laurence Tribe of Harvard Law

Sam BankmanFried, the founder of FTX cryptocurrency exchange, has enlisted Harvard Law professor Laurence Tribe to help… Read Summary

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Aug 2, 10:52 am

Decrypt

These Are the High-Profile Ethereum Futures ETF Applications Currently in Play

Several firms have filed applications for Ethereum futures ETFs, following the recent slowdown in Bitcoin ETF fever. The… Read Summary

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Aug 2, 10:20 am

Protos

Justin Sun Has Almost Complete Control of StUSDT: Report

Onchain data reveals that Justin Sun has almost complete control over stUSDT, a product that promises yield on tethers i… Read Summary

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Aug 2, 9:18 am

Decrypt

Bandai Namco Helped Create a New AI Virtual Pet NFT Game

Bandai Namco has partnered with Oasys to create an AI-powered virtual pet game called RYUZO, centered around NFT-based d… Read Summary

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Aug 2, 8:44 am

Decrypt

Litecoin’s Third ‘Halving’ Complete, Cutting Rate of New Tokens

The halving event has caused the rate of newly issued Litecoin to shrink, reducing the supply of mining rewards and pote… Read Summary

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Aug 2, 7:58 am

Coindesk

Lawsuit Claims ConsenSys Stole Idea for MetaMask Wallet

Joel Dietz, an entrepreneur, has filed a lawsuit against ConsenSys, accusing the Ethereum-focused developer firm of excl… Read Summary

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Aug 2, 5:59 am

Protos

MicroStrategy May Sell Another $750M in Stock as Bitcoin Buys Continue

MicroStrategy, led by Michael Saylor, plans to sell up to $750 million in stocks to buy more Bitcoin, despite previously… Read Summary

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Aug 2, 3:52 am

Reuters

Worldcoin to Open User Verification System to Governments and Companies

Worldcoin plans to expand its operations globally and allow other organizations to use its iris-scanning and identity-ve… Read Summary

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