[peterjlee]

I don't think $1B is the transaction amount. In the last 24 hours, trade volume on GDAX(Coinbase's exchange) for Bitcoin alone was $247 million.[1] Their trade fees are around 0.25%[2] so in the last 24hr they made over $60M in Bitcoin trading alone.

[1] https://coinmarketcap.com/exchanges/gdax/ [2] https://support.gdax.com/customer/en/portal/articles/2425097...

[irq11]

.25% of 247 million is $617,500, not 60 million

[tehlike]

I Am not sure if all of transaction volume is subject to fees. Market makers get a discount, or can even do it for free, and part of their larger customers might be other exchanges which would get similar discounts.

[cobookman]

247 * 365 * 0.0025 = 225,387,500 / year. How is that 1B?

[syntheticcdo]

$1B in revenue sounds reasonable, seeing as there are higher volume days than just yesterday, and those trading revenues don't include revenue from fees on (non-GDAX) Coinbase buy transactions.