🔥 COINBASE HAS BEEN TAKING HALF OF CIRCLE’S REVENUE According to Artemis, Coinbase’s revenue share from Circle has surged from 17.8% in Q1 2022 to roughly 50% in each of the last two years. This is because Coinbase earns roughly 100% of the yield on USDC held inside its products, plus a 50% share of off-platform balances under Circle’s payment waterfall.(Coin Bureau)