Brian Armstrong disclosed the Coinbase exchange’s plan and said that they are working to focus on a better revenue model in the Coinbase exchange, to easily fight against the odd weather of the crypto sector.
Coinbase is a top-ranked crypto exchange in the United States (US). This crypto company is listed on the Nasdaq exchange and trades under the COIN index. The services of this exchange are not limited to only crypto trading, the exchange also provides crypto cards, staking, crypto Custody, blockchain tools, etc.
Recently Brian Armstrong, CEO of the Coinbase exchange, appeared in an interview with the Bankless podcast. In the interview, Armstrong shared the future company’s plans to fight against the odd situations of the crypto market.
Armstrong said that Coinbase is focused on a better revenue model for the company and for this thing the team is focusing on Coinbase’s subscriptions and services, as trading fees & their value fluctuates on behalf of the market price.
Coinbase CEO asserted that in the future, Exchange will focus on providing services related to cryptocurrencies and further expand it to that level where odd weather in the crypto sector could not harm its revenue model & further help to make the revenue more predictable.
“What we’ve been doing over the last five years or so is helping shift more of our revenue into what we call ‘subscriptions and services,’ which is a little more predictable. That’s things like USD Coin and custody fees and staking and even things like Coinbase Card,” the CEO said.
Further, Coinbase’s CEO dragged attention to the company’s Q4 2022 earning report and said that 47% of the company revenue was from its subscription & services, which is helping this company to predict its future business plans easily.
The current stock price of COIN is 5.88% high than the last 24 hours’ trade price.