cb one card reminds me of crypto.com credit card from 2022 but you dont need to stake cro tokens and instead you pay subscription and maintain balance on cb. 🤔

swe @farcaster || prev: NEAR, Nethermind, Berkeley

Contributor @ /walletbeat.

Censorship resistance requires privacy.

Beyond just locking ppl in and hoping for coinbase wallet, base ecosystem integrations and trading volume:

it's always good to have assets in general (imaging have TVL on your balance sheet lmao).

Also, IF they end up providing margin/lending services (cb perp is legalizing with CFTC) , they can generate profit from the lending/borrowing rate + yield on staking (prob take a cut and give the rest to its users). tldr; why not become a crypto bank when you are the biggest/only player -- first mover haha.

i suspect robinhood will quickly follow cuz Vlad wont let this juicy profit flow out that easily.

I don't understand what they get from requiring users to custody assets at Coinbase. Are they staking assets and holding a fractional liquid reserve for withdrawals? Rehypothecating customer funds? Or just want to lock people in and hope they get trading volume as a result?