# Сопутствующие статьи по теме Web3

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Web3", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Coinbase: The Evolution from a Fringe Project to Global Financial Infrastructure

Coinbase's journey from a 2012 Y Combinator project to a global crypto financial infrastructure is a story of contrarian strategy, internal turmoil, and aggressive political maneuvering. Its early success stemmed from a focus on compliance and trust in a rebellious industry, securing banking relationships and state licenses to become a safe haven after the Mt. Gox collapse. Internally, the company faced crises, including a 2020 "apolitical" cultural purge where 5% of employees left, and serious racial discrimination allegations. It also navigated the first crypto insider trading case, which became a legal prelude to SEC challenges. Facing regulatory pressure, Coinbase fought back legally and politically. It spent over $119 million in the 2024 election cycle, successfully ousting crypto-skeptic Senator Sherrod Brown, and shifted Washington's stance on crypto. Financially, Coinbase transformed its business model. While 96% of its revenue came from trading fees in 2020, by 2025, nearly half is from stablecoin services (USDC), staking, and ETF custody—where it holds an 85% market share of Bitcoin ETF assets. Looking ahead, Coinbase is expanding into Web3 with its Base blockchain (adopting a no-token strategy) and aims to become an "Everything Exchange," offering stocks and commodities. However, its dominance creates systemic risks, as its concentration of ETF custody assets makes it a potential single point of failure.

marsbit01/19 06:20

Coinbase: The Evolution from a Fringe Project to Global Financial Infrastructure

marsbit01/19 06:20

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