Bitwise: Coinbase benefits from unfriendly US regulatory environments
2024-05-06 15:47:17
Matt Hougan, chief investment officer at Bitwise, said cryptocurrency exchange Coinbase is benefiting from "harsh regulatory environments" in the US. Last week, Coinbase reported $1.60 billion in revenue for Quarter 1 in 2024 due to rising transaction fees charged to institutional and consumer clients. Hougan argued that US regulatory environments are creating an artificial moat for Coinbase's business, helping it maintain extremely high profit margins and generate excess returns in the short term.
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