[FabHK]

Sure, but if there's no more "number goes up", and people stop trading crypto, then Coinbase's revenue vanishes.

[cbm-vic-20]

They get a cut in both directions.

[dwater]

Both directions meaning buying and selling, not active market and dead market like the parent comment is talking about. What's their cut of trades on Terra today?

[dpbriggs]

Their revenue is proportional to volume. Which we can expect to eventually plummet as people are skittish to enter and happy to exit.

[ineedasername]

And their revenue is dollar denominated. Even if the volume of coins traded remained the same, if the dollar-denominated value of those coins drop then so does revenue.

[mertd]

That's why the parent emphasized "trading stops", as in there is no trading in any direction.