@hermanromeo
Coinbase’s diverse revenue streams provide resilience, but some are more robust under stress. Custody and institutional services are less sensitive to trading cycles and regulatory shifts. Staking faces risks from U.S. regulators but remains profitable in compliant jurisdictions. Tokenized securities could become a growth engine, though subject to evolving rules. Payments is a long-term bet, with narrow margins but broad adoption potential. In downturns, custody and compliance-driven services serve as anchors, making them the most defensive revenue pillars against volatility and legal headwinds.
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