- Government intervention tends to benefit incumbents.
- Coinbase employs a lot of lawyers [1].
- Coinbase invests a lot in lobbying [2].
- While fees are lowering for international exchanges, those who serve US customers are still able to get away with very high fees.
- People are less sensitive to fees when the assets they are buying are very volatile.
- NYSE serves brokers, that then themselves serve the final clients. Coinbase is able to serve customers directly, thus it can keep all the fees for themselves.
- Government intervention tends to benefit incumbents.
- Coinbase employs a lot of lawyers [1].
- Coinbase invests a lot in lobbying [2].
- While fees are lowering for international exchanges, those who serve US customers are still able to get away with very high fees.
- People are less sensitive to fees when the assets they are buying are very volatile.
- NYSE serves brokers, that then themselves serve the final clients. Coinbase is able to serve customers directly, thus it can keep all the fees for themselves.
[1] https://news.bloomberglaw.com/business-and-practice/coinbase...
[2] https://seekingalpha.com/news/3679495-square-fidelity-coinba...