Coinbase Shakes Up Crypto Market: Slashes Fees for High-Volume Traders

$Coinbase(COIN.US)$ announces fee reduction for high-volume traders to boost institutional business and market share.
60-day fee waiver for traders with over $500,000 monthly trades on rival platforms, surpassing typical no-fee thresholds.
Move follows the approval of the first bitcoin ETFs in the U.S., expected to transform crypto trading and increase institutional adoption.
Coinbase, a key player in ETF custodianship, faces earnings pressure from traditional financial giants entering the crypto custody space.
Institutional business represents just 5% of Coinbase's transaction revenue, with a 30% drop to $14.1 million in Q3.
Competition intensifies with offshore exchanges like OKX and Huobi gaining market share in the spot cryptocurrency market.
Strategy mirrors past actions by Binance, which temporarily boosted its market dominance through similar fee incentives.
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