Bitfinex Goes Free. Will Crypto Exchanges Face A 2019 Schwab Moment?
Paolo Ardoino, chief executive officer of Tether Holdings Ltd., during the Bitcoin 2025 conference in Las Vegas, Nevada, US, on Thursday, May 29, 2025. The event will examine Bitcoin’s evolving global impact, with speakers from education, policy, finance, and technology. Photographer: Ronda Churchill/Bloomberg
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When Charles Schwab eliminated trading commissions on October 1, 2019, TD Ameritrade matched within hours. Eight weeks later, Schwab announced it would acquire TD Ameritrade for $26 billion. Morgan Stanley bought E*Trade for $13 billion months after that. Fee compression triggered the most significant consolidation wave in retail brokerage history.
Now Bitfinex is bringing zero-fee trading to crypto. All…
