Of course they are. Let's assume they are making 0.20% per trade (you can lookup their fee tiers online) - at current volumes that's around $5mio a day in fees.

Of course they are. Let's assume they are making 0.20% per trade (you can lookup their fee tiers online) - at current volumes that's around $5mio a day in fees. I doubt coinbase even needs the money - the IPO market is just really hot for blockchain related companies at the moment and it would be foolish not to raise some funds.