1) Coinbase earnings:
investor.coinbase.com/news/news-deta
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Their S-1 showed 59bps average trading fee last year. They broke out retail, which was 1.42% on average! 97% of their revenue seems to come from (high) trading fees. I wrote about it here: covemarkets.com/blog/high-fees
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ya I think there's something else going on here too:
they break it down between retail and instos, but that's not the *important* split.
the real split is mobile app/coinbase vs coinbase pro; that's where the fee difference comes from