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20 sats \ 21 replies \ @Cje95 OP 6 Oct 2024 \ parent \ on: Coinbase's Talks With TradFi Firms Pick Up as Crypto Becomes More Bipartisan Politics_And_Law
They get paid huge sums by the Government and other companies like BlackRock to custody BTC that I am not sure they really care about the profit or loss in BTC because these other services more than make up for it.
This is a misunderstanding. They make very little of their overall revenue on custody services. Most of their revenue now comes from shitcoins.
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I thought so.
They make their profit by selling the margins and fees, right?
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I am speculating I don't know. But I would imagine they make their money on trades.
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I would need to come back and check since I’m getting ready for bed but Coinbase is one of the only people in town that can provide the custodial service at a level that these companies expect. Maybe the fees are low now but that doesn’t mean it will be the case for long once the others are gone.
Also they are making a killing on Base but honestly Base is simple to use, has low fees, I mean it’s a good product for people that want to play with shitcoins. I only have it because you can do the wallet earns and then send either the crypto or the USD to another wallet to convert into BTC
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Does the government have any bitcoin?
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The US government is one of the largest holders lol
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Are you sure?
I think they sold all of their bitcoin.
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No, the German gov sold. US sold very little of their bitcoin holdings.
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I thought the government sold their silk road bitcoin?
To that John draper guy?
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Yes but they still have other confiscated Bitcoin.
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How much are they holding?
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200k
The US government: 198,955 Bitcoin worth $12.2 billion. The 8th largest holder
Nope they have sold some over the years but they never got rid of all the silk road.
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