[Trading Revenue Share Declines for Crypto Exchanges, Coinbase and Others Focus on Stablecoins and Prediction Markets] Odaily Planet Daily News: In the second quarter, trading revenue for three publicly listed crypto exchanges—Coinbase, Bullish, and Gemini—declined quarter-over-quarter. The gap between trading revenue and non-trading revenue narrowed for all three platforms. For Coinbase, this difference shrank from approximately $132 million a year ago to $44 million. Coinbase has expanded its product offerings in areas such as stablecoins and prediction markets, with the average USDC holdings in the third quarter increasing by 44% year-over-year to $20 billion. Gemini tripled the number of market makers in its prediction market since the beginning of the year, offering rebates to market makers and rewards to users. Bullish launched a new incentive program to support its trading business, with adjusted trading revenue in the second quarter decreasing by 21% quarter-over-quarter to $29.9 million but increasing by 24% year-over-year. Gemini's trading volume dropped 66% year-over-year to $3.8 billion, with trading revenue declining by 38%. (Bitcoin.com News)