The report on the profits of the second quarter of Coinbase for 2025 revealed a surprising upheaval in the distribution of commercial income.
Bitwise’s research manager Ryan Rasmussen stressed that XRP had brought more income to the exchange than Ethereum, despite his long absence of the platform.
According to data, XRP contributed 13% of the T2’s profits from Coinbase and 16% of its total income for the first half. Ethereum, on the other hand, contributed 12% to T2 and 11% in H1. Bitcoin remained the largest contributor, with 34% of T2 income and 29% over the six -month period.
This marks a major return for XRP. The asset had been struck off in Coinbase for more than two years due to the Legal Battle of Ripple against the American Securities and Exchange (SEC) commission.
Following a favorable court decision, Coinbase reinstated the XRP trade in 2024. Since then, the interest in the token has increased, helping XRP to exceed the USDT as the third crypto by market capitalization.
All exchange
The CEO of Coinbase, Brian Armstrong, used the report to describe the objective of the company to evolve in a “all exchange”, a single window platform for all asset classes.
According to him, the crypto exchange would become a platform where users can access all token workers in one place. The upcoming features will include integration with decentralized exchanges (DEX), new derivatives, tokenized actions and crypto projects at an early stage.
These offers would have taken place in the United States in the coming months. Armstrong equaled this expansion to the broader change in American crypto policy as part of the Donald Trump administration, which attenuated previous restrictions and encouraged innovation in chain finance.
This decision could accelerate the migration of users to chain platforms.
Danny Nelson of Bitwise noted that the integration of Coinbase with protocols like Morpho, already propelling more than a billion dollars of bolts supported by the BTC on the basis, shows how fast users will adopt services without friction and without chain.
He added:
“Coinbase users appreciate the ease of access. They will make the jump if you delete the friction to do so. ”
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