Coinbase is racing to stay ahead of a wave of new competitors as it pivots from being a pure crypto exchange to a broader financial services platform. Key Takeaways: Coinbase is expanding beyond trading into custody, derivatives, and stablecoins as competition intensifies. Despite strong ETF custody revenues and new ventures, Coinbase remains heavily exposed to Bitcoin price swings. Trading fees, still the core of Coinbase’s revenue, rise and fall with crypto market volatility. With Bitcoin hittin ...