Guess How Much Profit Coinbase Made Since Launched in 2012?

[Yaunfitda]

Honestly I thought its more than that, I don't know if they are under declaring but most businesses I know are manipulating their record to understate their tax liability. But anyway, that's still a good profit, which means that having a business in crypto has a great potential to make investors rich, coinbased proved it right, and I think that Binance is also making even more than their profit.

Me too. I thought they should have made at least double that amount since they have been in the game for so long.

In other news, Binance just crossed $1 billion in cumulative profit. They just joined the picture in 2017 and according to reports they have accumulated $1 billion already. So that was very quick, so imagine how much those exchanges are going to make if we had another bitcoin bull run in the next coming years.

[Jating]

Honestly I thought its more than that, I don't know if they are under declaring but most businesses I know are manipulating their record to understate their tax liability. But anyway, that's still a good profit, which means that having a business in crypto has a great potential to make investors rich, coinbased proved it right, and I think that Binance is also making even more than their profit.

Me too. I thought they should have made at least double that amount since they have been in the game for so long.

In other news, Binance just crossed $1 billion in cumulative profit. They just joined the picture in 2017 and according to reports they have accumulated $1 billion already. So that was very quick, so imagine how much those exchanges are going to make if we had another bitcoin bull run in the next coming years.

You can't compare the two, even though that Coinbase has a head start, that time crypto trading are very slow and obviously only few people have been trading since Coinbase was coming off from the Mt. Gox hacked.

While Binance enter when we are about to make a bull run in 2017. If I remember it correctly, they even suspended accepting members because the volume was too much. And perhaps that was the time wherein they racked lots of money too.

[cryptozink]

Share holders will sure be delighted. But are we traders getting f*cked?

This makes me wonder how much profit some of the other exchanges make, like yobit and binance.  I doubt it's anywhere near what coinbase makes, but its got to be significant.  It's too bad other exchanges are so non transparent and don't release data like this.

One way of trying to figure out what profits an exchange generates, is to calculate what their fee income is over the volume of all their trading pairs. It might not be accurate, but will give you an indication of their profits nonetheless.

Another income stream is the interest they generate on the fiat they hold on behalf of their traders. It's impossible to figure out exactly how much they hold in fiat, but I'm sure it's in the hundreds of millions at the very least.

Overall, Coinbase's $2 billion total profit is something the shareholders will be delighted with, especially with how most of the shareholders bought themselves into Coinbase when they weren't as big and dominant as they are today.

[danherbias07]

And this is also the reason why there are too many ICO now which projects are making another exchange.
They wont be stopped.
Yes, competition means you are having a good business but too much is just not good anymore.

7 years for 2 billion dollars? I dont think so. He might just be estimating it at a bad number or someone is robbing him from the inside.

[ashmodeus]

In other news, Binance just crossed $1 billion in cumulative profit. They just joined the picture in 2017 and according to reports they have accumulated $1 billion already. So that was very quick, so imagine how much those exchanges are going to make if we had another bitcoin bull run in the next coming years.

well well, that really handsomely profit .
since their ICO came around July 2017,on 2019,binance have accumulated $1 billion profit, btw , did that include from BNB token ?
however, if we look at the facts, according to the data in CMC, it is clear that 2017 - 2019 is the peak of activity.
and the best thing about it is that, People really likes binance.

[1Referee]

Yes, competition means you are having a good business but too much is just not good anymore.

It all comes down to supply and demand, which is the basic law of any business. Exchanges don't pop up because they want to do the community a favor, but because they know there is a market to serve. Markets consist of people, and these people vote with their money and coins and basically beg for more variety in the exchange space.

I personally couldn't care less about the profits Coinbase has booked when that money is being pumped into shitty token promotions and not in the one and only coin that allowed them to grow out to the worldwide crypto phenomenon that they are today. They don't even pump any money in providing their customers a swift support experience. Absolutely pathetic.