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Coinbase (COIN) has been working on offering cryptocurrency holders the ability to lend out their holdings in order to earn interest.
However, the Coinbase co-founder and CEO Brian Armstrong said recently the SEC would not allow this type of service and said that the SEC threatened to sue Coinbase if they did.
This is in spite of the fact that other crypto companies are already offering this type of service.
You may have seen articles recently about how venture capitalists want to get in on the success of Coinbase, the largest cryptocurrency in the world.
This is partially due to the fact that the company generated a billion dollars in revenue last year and now has more accounts than all the major US brokerage firms.
No wonder why the venture capitalists want to get in on the action, but Coinbase says No to that.
So what about Coinbase’s size compared to stockbrokerage firms? Based on number of accounts, Coinbase is the largest. This is based on the latest figures of the stockbrokerages found on Wikipedia. Here is the list:
| Broker | # of Accts |
| Coinbase | 13,300,000 |
| TD Ameritrade | 11,004,000 |
| Schwab | 10,155,000 |
| E-Trade | 4,500,000 |
| Fidelity Investments | 4,300,000 |
| Interactive Brokers | 385,000 |
