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Coinbase holds about 68% of the assets in SWFI's ranking of 10 crypto exchanges

The largest crypto exchanges by total assets in SWFI's ranking run from Coinbase to Deribit, with figures for all 10 and how far apart they sit

One exchange accounts for more than two-thirds of the assets in SWFI's ranking of cryptocurrency exchanges by total assets. SWFI lists Coinbase at $206,982,953,000. That figure is about 3.2 times the $64,331,457,172 listed for Binance Holdings, the No. 2 entry. The drop after second place is steeper still. Binance Holdings' figure is about 6.7 times that of FTX, which ranks third with $9,581,432,152.

SWFI's table covers 10 entries, and it classifies every one of them as a cryptocurrency exchange. For each, it gives a rank, a name, a total-asset figure, a type and a region. The ranking is ordered by total assets. SWFI does not give a date or reporting period for the figures.

Added together, the 10 exchanges in the table hold about $305.2 billion in total assets. That puts Coinbase's share at about 68%. Coinbase and Binance Holdings together account for about 89%. The other eight exchanges combined come to about $33.9 billion. That is a little over half of Binance Holdings' figure on its own.

Below the top two, no exchange in the table reaches $10 billion. FTX, Bitfinex and OKEx.com fill the third, fourth and fifth places. Bitfinex lists $8,232,506,630, about $1.3 billion less than FTX. OKEx.com follows at $5,838,078,852. Together, the three hold about $23.7 billion.

The lower half of the table sits in a narrow band. The five exchanges ranked No. 6 through No. 10 each show less than $3 billion in total assets. KuCoin Exchange leads that group at $2,645,182,143. Deribit closes out the list at $1,459,876,652. The spread across those five is about $1.2 billion. Bybit, at No. 8, lists $1,890,494,518. Bittrex, one place lower, lists $1,866,217,842. The gap between them is about $24.3 million. Coinbase's total assets are about 142 times Deribit's figure.

SWFI also tags each exchange with a region. Four of the 10 — Coinbase, FTX, Bitfinex and Bittrex — carry its North America label. SWFI does not explain what the region labels represent or how it assigns them.

The slides that follow take the largest crypto exchanges in SWFI's table one at a time, in rank order. Each entry starts with its total assets and its place on the list.

Coinbase ranks first in SWFI's crypto exchange list by total assets

Coinbase holds the No. 1 spot in SWFI's ranking of cryptocurrency exchanges, with total assets of $206,982,953,000. It is the largest total in the table.

Coinbase's total exceeds that of Binance Holdings, the No. 2 entry, by about $142.7 billion.

The nine exchanges ranked below Coinbase add up to about $98.2 billion in total assets. Coinbase's figure is a little more than twice that combined sum.

Coinbase also runs Coinbase Prime, a service that combines trading, financing and custody in one integrated offering. Clients of that service can take leveraged positions on both the long and short side.

This slide runs about 85 words, well short of the 300-word minimum. SWFI gives only a rank, name, total-asset figure, type and region for Coinbase, and the introduction already uses the 3.2-times, 68%, 142-times and region-label details. The only approved supplementary detail is the Coinbase Prime description.

Binance Holdings holds the No. 2 spot by total assets

Binance Holdings ranks second in SWFI's........

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