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2min chapter
Responsibly Reckless
The Compound and Friends
The Future of Cryptocurrency
Brokeridge margins only go in one direction now you can't get more for a trade So coinbase had incredible margins in 2020 they could basically They could make a spread on trades that is like nothing else in any other asset class And there was no way that was good. But the fact that they're still doing retail like that so they released us in all of their numbers every quarter The institutional trading i'm making this up, but it's directionally right. It's like 10 times what retail is but they only make up 20 percent of the revenue Retail is paying like eight times more whatever it is than institutional money Trans in the financial and they claim to be a moderate that's the that
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