I am speculating I don't know. But I would imagine they make their money on trades.

I thought so. 
They make their profit by selling the margins and fees, right?


Satosora

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 

Cje95

Politics_And_Law

Coinbase's Talks With TradFi Firms Pick Up as Crypto Becomes More Bipartisan

This is a misunderstanding. They make very little of their overall revenue on custody services. Most of their revenue now comes from shitcoins. 