How Crypto Exchanges Make Money: Revenue Statistics and Fee Breakdown (2026)

Crypto exchanges earn money from trading fees, price spreads, derivatives, staking, stablecoins and services for large investors. Every time someone buys Bitcoin, sells Ethereum or swaps one coin for another, the platform may earn a fee. Trading is still a big part of the story, but it is no longer the only part. Coinbase, Binance and Kraken have all added products beyond simple trades. Coinbase reported $7.18 billion in total revenue for 2025. That included about $4.06 billion from transactions and $2.83 billion from subscriptions and services. Kraken’s parent group, Payward, reported $2.2 billion in adjusted revenue for 2025.