Coinbase's trading revenue surpasses Nasdaq's

According to Decrypt, a cryptocurrency analyst at Coutts Private Bank revealed that Coinbase's trading revenue has surpassed Nasdaq, one of the world's two largest stock exchanges. In the past 12 months, Coinbase's trading revenue reached $5.75 billion, while Nasdaq's trading revenue was $4.54 billion. At the same time, Coinbase has surpassed the Hong Kong Stock Exchange (HKEX) and Brazil's B3 exchange. Despite the rapid growth of Coinbase's trading revenue, there is still a gap compared to the world's largest exchange. For example, the trading revenues of the London Stock Exchange (LSE) and the Intercontinental Exchange (ICE) were $10.82 billion and $9.16 billion, respectively, far exceeding Coinbase. Analysts point out that although Coinbase's trading volume is lower than other major exchanges, its trading revenue is still relatively high due to its higher trading fees. Analysts also predict that Coinbase may continue to surpass traditional exchanges and become the world's third-largest exchange by 2025, but it may take 10 to 20 years to surpass Nasdaq in trading volume. In addition, Coinbase's expansion potential in international markets is also key to its future growth, especially in regions such as Latin America, Africa, and Europe.