Coinbase surviving on USDC interest as YTD losses top $2 billion
"Asked about Coinbase’s claim that traders are moving ‘offshore’ to exchanges like Binance that have rolled out zero-fee BTC transactions, chief operating officer Emilie Choi clarified that “companies that say zero fee are still generating a spread” and Coinbase was “not going to compete on price because of the premium nature of our offering.” Exchanges based in less, er, rigorous regulatory climates also get to offer products that Coinbase can’t legally provide. Armstrong said he repeatedly told policy makers that “by pushing so hard on local companies, you’re not actually protecting investors. You’re just encouraging them to move offshore to even less regulated options, right?”"
