Coinbase should be viewed as a wealth & asset management company at this point. The real profit center of the company is Coinbase Custody, which is all about extremely secure holding of Bitcoins for extremely rich customers. The retail arm of Coinbase is more for free advertising - I think they make money off of it, but not huge amounts. It's much like how Dropbox is really an enterprise backup company where consumer Dropbox gets their foot in the door, GitHub is an enterprise code hosting company where open-source GitHub makes developers familiar with it, and Google is an enterprise advertising company where consumer Google gives them somewhere to advertise on. For that matter, Robinhood is an enterprise data company for hedge funds that sells information about what retail traders are about to buy.
There's a fair bit of money in WaAM - my wife used to do it for Wells and had a $6B book (as a fresh college graduate!). Consumers don't have money, that's what makes them consumers. If you're managing money, you ought to do it for rich people that have a lot of it.
There's a fair bit of money in WaAM - my wife used to do it for Wells and had a $6B book (as a fresh college graduate!). Consumers don't have money, that's what makes them consumers. If you're managing money, you ought to do it for rich people that have a lot of it.