SBF@SBF_FTX·Feb 25, 20211) Interesting notes from the Coinbase S1: https://sec.gov/Archives/edgar/data/1679788/000162828021003168/coinbaseglobalincs-1.htm#i86a9d9b35e45447ea6eb369e5dcf1e6a_100…1120182
SBF@SBF_FTX·Feb 25, 20212) $1b of expenses. How do you spend $1b? Apparently split between: --transaction expenses ($135m) --"Technology" ($270m) --ads ($50m) --G&A (prob payroll) ($280m) --other ($125m)2555
SBF@SBF_FTX·Feb 25, 20213) Revenue is 95% *retail* trading fees. Why retail? Because they charge ~1-10%!!!Quote TweetSBF@SBF_FTX·Jan 12, 20211) The other crypto IPOShow this thread5572
SBF@SBF_FTX4) 75% US -- not super shocking. The revenue that didn't come from trading fees? Selling appreciated coins. (VC investments? BTC?)4:54 PM · Feb 25, 2021·Twitter Web App2 Retweets1 Quote Tweet56 Likes
SBF@SBF_FTX·Feb 25, 2021Replying to @SBF_FTX5) Given their numbers, I'm guessing that ~$70m/day traded on average on their mobile app in 2020. What is it now? I don't know! Their volume is up 5x. How much of that is institutional?7162
GM美好的一天 Arigato gozaimasu!@CareGiverNeeds·Feb 25, 2021Replying to @SBF_FTX and @SBF_Alamedarobinhood for crypto?
Bl◎ckchain Chomp@BlockchainChomp·Feb 25, 2021Replying to @SBF_FTX and @SBF_AlamedaAdd more coins to FTX US and siphon off their users plz2
Jonathan Yuen (:3, :3)@jonathanykh·Feb 25, 2021Replying to @SBF_FTX and @SBF_AlamedaPerhaps also custody services
nO nAmE (,)@xNFT_killa·Feb 26, 2021Replying to @SBF_FTX and @SBF_Alamedalots of them due to legal fees imo the hidden fee
