According to Oppenheimer analyst Owen Lau, Base’s estimated 1 million active users are expec­ted to contribute $100 million to Coinbase’s revenue in 2024. Most of that is from trading fees (this is crypto, after all).

Ironically, if Coinbase is going to be even more successful with Base, it will have to give up control—and share fees. Coinbase is currently Base’s only “sequencer,” crypto jargon for operator or supervisor. To become decentralized, Base will require more sequencers. If Base had four sequen­cers, Coinbase might earn only 25% of the total fees.

Source: https://www.forbes.com.au/news/billionaires/why-bitcoins-biggest-banker-is-making-a-risky-move/