The video discusses how SoftBank is backing a startup to offer retail crypto trading and how Drivewealth, a stock brokerage firm, has entered the cryptocurrency market by establishing two subsidiaries. These subsidiaries will enable partners to offer crypto trading to individual clients, as traders are currently forced to trade across unsustainable transaction spreads on Coinbase. CEO Bob Courtright prompted the move into the crypto industry due to the high fees charged by Coinbase, which can be up to 4.5% of the transaction amount plus a spread. The exchanges financial report indicated that transaction fees accounted for 88% of its total income in Q3, totaling $1.2 billion. The video also mentions a free ebook on cryptocurrency with getting started tips in the description.
