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JPMorgan Chase: Coinbase's Ethereum staking service will increase the exchange's revenue with the merger of Ethereum



Time:8/18/2022 12:32:18 PM

Jinse Finance reported that JPMorgan Chase said that Coinbase's Ethereum pledge service will increase the exchange's revenue with the merger of Ethereum.

JPMorgan estimates that Coinbase has a 15% market share in ETH assets, more than its 7% share of the entire crypto ecosystem. Coinbase’s market share may be skewed towards institutions, which are more likely to own ETH and BTC, while retail customers may “trade more speculative tokens more.”

JPMorgan further estimates that Coinbase could generate $650 million in incremental annual staking revenue from the merger. “Coinbase’s scale in ethereum is larger than we thought, and thus directly leads to a larger revenue opportunity,” JPMorgan wrote. The exchange began offering ethereum staking services for institutional clients earlier this month. JPMorgan has a neutral rating on Coinbase stock.

Other news:

News | JPMorgan Chase CEO tired of answering questions about cryptocurrencies: According to Cryptoglobe, JPMorgan Chase CEO Jamie Dimon has become one of the most vocal opponents of Bitcoin and other cryptocurrencies over the years, but he is tired of answering questions about cryptocurrencies. The problem with cryptocurrencies. While most banks and traditional financial institutions are openly confronting bitcoin and other cryptocurrencies, some executives and senior employees at places like JPMorgan Chase & Co. have stayed with the firm to seize opportunities in the blockchain space. [2018/11/4]

The real reason for JPMorgan's criticism of cryptocurrencies is the fear of losing customers: "Fortune" magazine disclosed that the annual report released by JPMorgan Chase publicly pointed out for the first time that cryptocurrencies are a "risk factor" for its business and the risks it will pose to its business. “The risk for financial institutions and other non-banking competitors is that services such as payment processing will be disrupted by technologies such as cryptocurrencies that do not require an intermediary,” the report said. Bank of America also proposed in its annual report last week. A similar comment stated that they thought they were at risk of losing customers because of cryptocurrencies. This means that most banks are preventing or restricting their customers from trading cryptocurrencies under the pretext of “protecting” them from money laundering, potentially saving their business’ future profitability. [2018/3/1]

JPMorgan Chase recognizes that Bitcoin-based ETFs have huge investment potential: JPMorgan Chase recognizes that Bitcoin-based ETFs have huge investment potential. "Holy Grail for Holders and Investors". "Holy Grail" in the West is now commonly used to refer to "rare treasures in the world". The total market capitalization of cryptocurrencies currently exceeds that of JPMorgan Chase. [2018/2/14]

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