Coinbase

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The platform's own early signals for this company — hard-to-fake, and where one preceded a real raise, the measured lead.

• TLS certificate transparency 12 signals · latest 2026-08-06
• Federal contract awards 5 signals · latest 2026-06-24

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• neutral fact_claim Jason Calacanis

  coinbase's current price sales multiple is uh 16.6 x so they did a billion in revenue 16 billion they did two it could get 32

• bullish assessment David Friedberg

  There was the chance that coinbase could collapse now coinbase became one of the greatest successes in the history of Silicon Valley and certainly one of the top five successes of the last super cycle in tech. In other words, Airbnb, Uber, Coinbase are the three most valuable companies, I think, in the last 10 years. We probably include Zoom in that. And, yeah, Snowflake. So there's been, you know, five companies worth over $50 billion from the last super cycle of tech. 10-year sort of super cyc

• neutral fact_claim Unattributed

  when you trade on Coinbase or, um, Bitstamp, they verify your, your identity. They, they take, they ask for your ID, you know, they ask for, you know, your social security number and stuff like that to make sure they know who they're doing business with. Um, those exchanges usually don't have any problems obtaining banking.

• bullish assessment Unattributed

  Regulation, tether getting deprecated, China being removed from the picture, and Coinbase and Circle going both being public entities, and increased regulation and taxation will ultimately be good for crypto, a regulatory environment will be better for crypto, it won't be the Wild West, you might not see as many swings up or down, things might become more stable.

• bearish fact_claim Unattributed

  the funny thing about those two was on the coinbase side it was uh someone working there who's telling his brother i believe what coins were going to be listed soon so that he could buy them off exchange and then they could sell them in profit on open sea it was there i think head of product nate chastain was the guy's name i think he got a couple months in jail just a couple weeks ago i remember it was on the ticker um he was actually bragging about front routing on twitter there was like a fam

• bearish criticism Unattributed

  you know like wash trading and you know the front running of markets which happened at open sea coinbase and at the nft um open sea open sea both of those places didn't have tight enough controls in place apparently uh allegedly well not allegedly i think it's it's pretty clear they didn't have the tight enough controls and people front front run the market or did wash trading on on those sites so you know i do think you know people can get caught flat-footed in the case of coinbase and open sea

• bullish assessment Jason Calacanis

  Nobody expected that Airbnb and Uber and Coinbase, Robinhood would become global phenomenons as quickly as they have.

• bullish fact_claim Unattributed

  the coin bases the airbnbs the ubers yeah they created brand new sectors they created brand new areas of the market

• bullish assessment Unattributed

  Um, but again, that falls into your exchange. That that's an OG business model that's, that has one foot in Fiat and one foot in crypto doing quite well. And so to me, that's, that's like a hybrid versus a full crypto business.

• bullish assessment Unattributed

  And so circle coin base. And then the list gets pretty short, frankly.

• bullish assessment Unattributed

  none of them, literally none of them, with the exception of coin base, maybe some NFTs companies that are now close to worthless or extremely low value. The only thing that's worked is the, uh, crypto exchanges.

• bullish assessment Jeremy Allaire

  some of these huge, um, crypto firms like, uh, Coinbase and Binance that have like 400 million users combined. Those are like kind of financial super apps increasingly where you can hold a balance. You can take your paycheck. You can have a card attached to it. You can do these things and, and they make it seamless to get USDC and stuff like that.

• neutral fact_claim Unattributed

  sure coinbase is very close with circle and usdc it's kind of their house stable coin if you will so

• neutral fact_claim Unattributed

  this is a what is a 50 60 billion dollar public company that basically said enough's enough this is our mission

• mixed assessment Chamath Palihapitiya

  i think that the the the the folks that you know uh were really up in arms still have uh one small straw in the fight which is that if these guys don't achieve their goals they'll point to this as one of the reasons why but... i think if brian then goes and delivers a couple of knockout quarters in a couple of knockout years then um you know what he will be able to say definitively which no one can refute is we leave our politics at the door we define our okrs and then we go and we build things

• bullish fact_claim Unattributed

  since my post we've grown our head count about 110 percent doubled it while our diversity numbers have remained the same or even improved in some metrics

• bullish assessment Unattributed

  what brian basically reported is that today coinbase is a more aligned company because everyone who's there wants to be there for the mission that's what they focus on when they go to work he talked about how they had hired top talent away from other companies

• bullish endorsement Jason Calacanis

  we all universally felt like it was the right move

• mixed prediction Brian Armstrong

  crypto is going to be many different things. It's not just going to be one regulator doing it. So, you know, think about cryptocurrencies, like Bitcoin, that's pretty clearly a commodity or Ethereum, right? Like, many of these are a theory, commodities that probably should be regulated by the commodities regulators, the CFTC.

• neutral assessment Unattributed

  you've obviously taken a very conservative approach to what tokens you, uh, put on the platform, and then you have competitors who are offshore, who it's kind of YOLO, anything goes.

• bullish assessment Brian Armstrong

  what we always did in the early days of Coinbase is we said, we want to go do what we think is going to be required in the future, go get licenses, go do KYC, go, go, go do AML anti-money laundering. And so we tried to basically do the right thing, go and talk to these regulators proactively.

• bullish assessment Brian Armstrong

  Coinbase is now a very regulated financial service business. You know, I can go through the whole list. We have a license from the CFTC, a federal regulator. We acquired some broker dealer licenses, which the SEC regulates. We have money transmission licenses. We're a bit licensed in New York, et cetera.

• neutral fact_claim Brian Armstrong

  It just said that while we're in the office together on Coinbase time, we're going to engage in Coinbase's mission and avoid fractious debates that divide us.

• neutral fact_claim Brian Armstrong

  we're not going to allow people to do grandstanding open mic stuff. There's just a little bit of a risk for that, you know, 99% of people don't do it. But if one person does it, and it kind of creates this snowball effect. So we got rid of the open mics, people can still submit questions, but they're, they're nobody else can see them, we read them ahead of the Q&A.

• neutral assessment Brian Armstrong

  Once we got to like 500 700 people, it started to feel like there was a little bit of an us versus them. And then, you know, the questions got very off track. And I realized at a certain point, this is not a democracy. I want everyone's input, I'm not going to rule like with an iron fist. But ultimately, you know, I'm the CEO, I need, I need to help guide this company in one direction and force the hard decisions, not everyone's going to like them.

• bullish assessment Brian Armstrong

  during the pandemic, we removed, we moved to remote first as a culture, the talent, like the talent, we could get opened up by 100x people all over the world who were really hungry, and like, frankly, thankful for these jobs.

• bullish assessment Brian Armstrong

  I think Coinbase has been very productive since then. And we've been able to attract a lot of the best and brightest people from some of these other companies that are like, I don't want to be in those companies anymore. I want to work at a company where we just focus on the work and the mission

• bullish assessment Brian Armstrong

  frankly, you know, about 5% of the company opted into the exit package. So there was some teams that were shorthanded. A lot of people had to work extra time to fill in the gaps. But long term, I think it turned out to be an incredibly positive decision for the company.

• bearish fact_claim Unattributed

  you would basically have a trillion dollar hole in the economy. How many people hold Bitcoin who holds that trillion dollars, I guess would be the question. And you would have firms like yours would be wiped out or Coinbase would be wiped out a bunch of people who put money into it would lose that money would be gone.

• bullish fact_claim Matt Ballensweig

  In terms of can the market handle it? There's a lot more cash that the market can absorb right now. And you can kind of see that, like I mentioned earlier, and kind of the implied annualized basis of these of the market, right, it's implying right now, even like 10% and on stablecoin. So, you know, also Genesis right now, we're still borrowing more, more and more USDC and dollars from the market. I think other platforms out there are still cash hungry as well. And until the spreads kind of close

• mixed assessment Matt Ballensweig

  Yeah, I think so one like that, that's the question that I think like, that's the question that's ultimately raising eyebrows from from from a regulator's perspective is like, you know, how can we best protect the retail investor? So I do I do think that like, yeah, there's, it's certainly an area that's, that's super gray. There's probably going to be a ton of a ton more regulatory guidance that ultimately comes out, you know, by the SEC and other regulators over time. But it's also like, that'

• neutral fact_claim Matt Ballensweig

  we have the on off ramps with circle and Coinbase to go in and out of dollars and USDC at basically one to one at any time.

• mixed assessment Matt Ballensweig

  Yeah, initial reaction was, you know, it feels like there's definitely a lot of, I mean, there's always been a lot of regulatory uncertainty in this space, specifically around lending and lending products. So, you know, on one hand surprising to see, you know, the kind of aggressive tone that the SEC took, but also like not that surprising to see, you know, a large, you know, regulatory body like the SEC kind of come and say, Hey, we're looking at this. And we're taking a pretty aggressive stanc

• bullish assessment Jason Calacanis

  So I think it's, you know, a good idea on their part.

• bullish fact_claim Jason Calacanis

  Coinbase is the number one player

• bullish endorsement Jason Calacanis

  I think Coinbase done a pretty great job of making it secure, safe and playing by the rules.

• neutral fact_claim Brian Armstrong

  our diversity numbers have remained the same or even improved on some metrics

• bullish fact_claim Brian Armstrong

  since my post we've grown our headcount about 110 percent

• bullish assessment Unattributed

  more people now are coming to work at coinbase because they agree that work is for work and that politics and social issues you should do on your own time

• bullish assessment Unattributed

  my perception was for every person who doesn't want to go work there i think there's going to be 10 who do

• bullish assessment Unattributed

  we have a much more aligned company now where we can focus on getting work done toward a mission and it has allowed us to hire some of the best talent from organizations where employees are fed up with politics infighting and distraction

• bullish endorsement Unattributed

  brian armstrong say what you will is fearless and a great leader

• neutral fact_claim Unattributed

  coinbase went public in april and is no longer an eight billion dollar company no it's worth 49 billion dollars

• neutral fact_claim Unattributed

  the hill that Coinbase is going to die on is politics at work

• bullish assessment Jason Calacanis

  if you look at Coinbase, look at Robin Hood, man, they realized they got a problem with customer support, and they are going all in on it, they're going to spend tons of money, hire tons of people. And they're going to look at their call centers as a way to build trust, and to grow their businesses. And that's the right move. And I think that's what Coinbase and Robinhood will learn is that the money they spend, yes, it's going to reduce their profitability. But long term, it's going to build cu

• bullish prediction Jason Calacanis

  And it'll be great for Coinbase for circle for any of the legit players, this regulation is going to drive more customers and more lock in.

• mixed assessment Jason Calacanis

  should customers investing in crypto assume some level of risk in their account security? I think so, right? If you're going to be in a situation where nobody's in charge, and it's a distributed system, and it's easily hacked, well, maybe you should expect that you will get hacked.

• bullish endorsement Jason Calacanis

  Coinbase and Robinhood are both investing massively in phone support and customer support, which is a great idea.

• bullish prediction Jason Calacanis

  How amazing would it be if your Amazon account was connected, or your Apple account was connected to your Coinbase account, and that was, you know, Coinbase was owned by Apple, or Robinhood was owned by Apple, what an amazing future that would be

• bullish prediction Unattributed

  I believe Coinbase and Robinhood are destined to become trillion dollar companies or be a major piece of a trillion dollar company.

• neutral fact_claim Unattributed

  on Tuesday, Coinbase announced that they will be launching an NFT platform and the waitlist grew to over 1 million users in just 24 hours.

• bullish assessment David Friedberg

  like coinbase and robin hood have real customers and revenue and nikola and maybe this ev toll company maybe they don't have customers or revenue yet maybe put 80 percent into the company with the customers and 20 percent into the speculative one there's some reasonable betting strategy here and it is gambling when you are investing in pre-product market fit companies uh coinbase and robin hood are not that these are millions of customers

• neutral fact_claim David Friedberg

  five uh coinbase went public via direct listing in april at 381 dollars a share popped up to 421 they hit 100 billion in july the stock bottomed out at almost half 221 so this has been a lot of swings we

• neutral fact_claim David Friedberg

  coinbase is trying to diversify away from transaction-based revenue

• bullish assessment David Friedberg

  monthly transacting users 7.4 million again up massively 3.5 x year over year but down quarter over quarter that's a good number to uh look at

• bullish prediction Unattributed

  hood to add users and then adding stocks is something that coinbase could do if you know people are trading stocks they could get more trading going on

• bullish endorsement Unattributed

  no-brainer i would like to see these companies even go 15 20 per month and have something really great for people

• bullish prediction David Friedberg

  i do think that robin hood and coinbase and all these financial services companies are going to have great subscription revenue

• mixed assessment David Friedberg

  total revenue 1.3 billion that's up four times year over year 4x year over year that is extraordinary we've been talking about high growth companies being 20 30 40 50 growth 4x 400 growth it's down 40 quarter quarter there's going to be bumps in the road in these high growth companies so i think that's to be expected

• neutral fact_claim David Friedberg

  transaction-based revenues will swing wildly depending on market conditions that that's the truth about these things

• bullish prediction Chamath Palihapitiya

  i would put airbnb uber coinbase uh robin hood now i'm in two of those four names

• bullish prediction Unattributed

  Coinbase and Robinhood, I think they both won the day. I don't see either of those going anywhere. That's going to be your Coke, Pepsi, Uber, Peloton, Facebook, Google, Amazon.

• bullish endorsement Chamath Palihapitiya

  we're looking for the digital wallet, Coinbase, Square's Cash App, PayPal's Venmo, less so.

• bullish endorsement Jason Calacanis

  how about maybe spend some time giving the market more clarity, some regulatory certainty for companies like Robinhood or Coinbase that could actually either help them grow or help them grow safely

• bearish criticism Unattributed

  And then, you know, for both Robin hood and for coinbase, there is the issue of, you know, during the pandemic, people didn't have the ability to bet on sports or spend their money going out. And so what did they spend their money on? They gambled on crypto. They gambled on stocks.

• bullish assessment Unattributed

  So I think if you wanted to have a wild card in your portfolio at this price, coin base would not be the worst thing to own either.

• bullish endorsement Unattributed

  Hmm. I don't think they would be as aggressively going to every nook and cranny and adding NFTs and adding, you know, these kinds of coins at the same pace. So just like, I think Robin hood and coin base represent for this younger generation. How they interact financially with the world. And I think also the cash app does, I do think that they are unique and generational and that the names you rattled off are for boomers. And then gen X kind of falls in between probably falling closer to the coi

• bearish criticism Jason Calacanis

  Hmm. Even though crazy things, you know, crazy like fidelity or TD Ameritrade or chase or any Schwab, any of these could come in and essentially replicate coin bases business model, fundamental business model, almost wholesale, right?

• bullish endorsement David Friedberg

  I think if Bitcoin and Ethereum and this, this basket of crypto is actually real, you'll see a lot of money market, uh, or money managers be able to just say, you want to be 1% in crypto, you want to be 4% in crypto, we can manage that for you. And just like they manage, like we have a way for you to get access to bonds or real estate through these various funds that, you know, balance them out and so you abstract it from you having to manage it. So, yeah, it does, you know, but obviously they'r

• bearish criticism Unattributed

  Yeah, and I think it's because people are looking at crypto and are not convinced or some group of people are not convinced that this is built to last and that this isn't a fad. Uh, and you're there, they're probably not wrong in that, you know, there's going to be a lot of ways to trade crypto. That'll be easier and more fluid than going on Coinbase and actively trading. So think about like crypto ETFs and stuff like that, which I know have been hard to get past, et cetera, but it'll become eas

• mixed assessment Jason Calacanis

  Okay, now to some slightly more speculative, well, maybe one more speculative bet Coinbase, which is down also over 50% from its November peak of $357. It's low point on Monday was 165 a share, $50 billion loss in market cap on revenue of about $6 billion last quarter growth was only five and a half times year over year, which you know, listen, we should be delighted. Everybody should be delighted. But when you look at, you know, Netflix was 16%, even though we're now saying they're the expendab

• bullish endorsement David Friedberg

  That's great. We have seen this before. Zuckerberg had Mark Andreessen famously on the board, who is a founder who turned into a venture capitalist, Peter Thiel on the board, founder, you know, of PayPal, who turned into a venture capitalist. And then he also added the

• neutral fact_claim Unattributed

  Joe Pomp, Pomp's brother, said Coinbase just spent 14 million for a color changing QR code to bounce around on the screen for 30 seconds during the Super Bowl and the website crash.

• bullish fact_claim Unattributed

  Tanay J said on Twitter, Coinbase went from outside the top 100 to number two on the overall app rankings, thanks to their Super Bowl commercial.

• bullish assessment Unattributed

  So if they get 46,000 customers, then it paid for itself. ... If 46,000 new people sign up and their current cost to acquire customers $300, that seems reasonable across other advertising. Then it broke even and it makes your company feel stoked and more people know about your company.

• bullish assessment Unattributed

  And if they spend 4 million on this ad and their average customer spends $400, you get the idea. This costs nothing. They spent 14 million on this ad because it was a minute long, 7 million per 30 seconds. How many new customers do they need to get?

• bullish endorsement Unattributed

  Okay, Coinbase, I think, had the most interesting lo-fi ad. It turned into a meme. And I think this was a groundbreaking ad. Basically, as you can see here, we'll play the clip while I talk. There's not much to say here. They had a QR code bounce around your screen like a screensaver, which led to people saying, is my screen broken? For people who knew what a QR code was, they instantly were like, what's wrong with my TV? Took out their phone and crashed Coinbase's website. This was genius. It w

• bullish prediction Unattributed

  i do think this is my thesis of why we're bouncing along the bottom

• bullish assessment Unattributed

  their enterprise value is like 1.1 times their revenue last year's revenue it doesn't make any sense right

• bullish assessment Unattributed

  do we really think coinbase is only worth 9 billion with you know that many accounts and being the category leader in crypto crypto is not going away there's a lot of value here

• neutral fact_claim Unattributed

  the 2020 revenue was 7.8 uh billion

• neutral fact_claim Unattributed

  that means the enterprise value of coinbase is nine billion

• neutral fact_claim Unattributed

  if you look at a company like coinbase it's down 75 percent molly yeah from its covid peak of 357 share

• bullish endorsement Unattributed

  coinbase uh still a great company

• bearish fact_claim Unattributed

  Now, of course, coin base, I think is perhaps the company that got wallop the most in this cycle or amongst the most. I think they were down 86% from their peak 85, 86%. So that's truly extraordinary, right? You know, $100 billion company or whatever goes down to 14 billion.

• bearish assessment Jason Calacanis

  coinbase makes its money on transactions and so if everybody's just hunkered down even if they're not selling right that's probably still bad right and so if they're just hunkered down and holding

• bearish assessment David Friedberg

  what they're saying is like this may not be the last of the layoffs and the crypto market could be coming apart i my i suspect people are not trading crypto in a moment like this i think people are hodling but i i can't imagine there are new entrants into the crypto market right now

• mixed assessment Unattributed

  It will also be interesting to watch whether new regulations in the European Union on the crypto market have an ongoing negative effect on crypto and thereby Coinbase and everybody else in this business. Or a positive effect, you know, you could argue both. Yeah. I think any regulatory certainty will ultimately be good for these businesses. 100% long term. Short term though, it might drive some sketchy crap out of business, which we're going to see anyway. Yep.

• mixed assessment Unattributed

  And they took the hard medicine of, you know, making the continue to write I mean, clearly, I think this is a, this is a CEO who will course correct what imagines and I think you're absolutely right, you'll start to see those subscription fees come in, like you'll start to probably see different revenue models.

• bearish prediction Unattributed

  I think the stock's gonna keep going down until they get through this quarter and into the next quarter. So I think it's going to be a really tough year.

• bullish assessment Unattributed

  Yeah, so they have basically three years of runway to figure this out. If this recession takes a year, I think it's a, you know, I said three, four quarters is what I thought it was going to be around the second. So that means sometime into next year, things start to go sideways and go back, you know, start to go back up, maybe modestly, I think they have plenty of runway to get there. It's like unlike the BuzzFeed or Peloton situation where you were like, whoa, cash crunch under no cash quarter

• mixed criticism Unattributed

  If they had been a subscription business all this time, and they had 9 million people paying a subscription of but $5 a month, that would be $45 million. $45 million, you know, across, you know, a year would be, you know, roughly 500 million and change of pure profit, pure profit, unadulterated, pure profit, and that's at but $5. Now, if it was $10, they have a billion dollars, a billion dollars. Now, if they lost 5% of the users every quarter, but they were making a billion dollars, it'd still

• bearish assessment Unattributed

  not trading, it's a big problem for revenue, right? It's like if somebody stopped, if people stopped buying iPhones and they don't, they haven't really shored up the AirPod pro business and the banking and finance side of things. So in terms of those future revenue models, if people just stop trading crypto, even if they're just holding, it's, it's somewhat in doubt. And the earnings report, like we just need to, there's, we can't say this enough times. It's going to look so horrible in comparis

• bearish criticism Unattributed

  It sounds like a big part of what was happening is that there were, there was some obvious telegraphing that layoffs are going to happen and employees probably thought the company scaled too fast. Like it's, it's interesting because it's this double, right? You can have leadership, but you can also have wisdom of the crowds where it's very possible. People internally were like, okay, but there are some warning signs that maybe, you know, this isn't the rocket doesn't always go up. Yeah. Maybe we

• bullish endorsement Unattributed

  he basically said, this is really dumb on multiple levels, like, and he said in his second point, first of all, if you want to do a vote of no confidence, you should do it on me and not blame the exacts, who do you think is running the company, I was a little offended not to be included, smiley face. So he's, you know, been a little trolly. Number three, second, if you have no confidence in the exacts or CEO of the company, then why are you working at that company? Quit and find a company to wor

• bullish endorsement Unattributed

  my hot take, perfect note. They took responsibility. Uh, they defined reality, you know, hey, one, two, three, here's what's going on, uh, as candid as possible, gave a little pep talk. And then he explained the mechanics of the layoff for a remote company. ... it was like a very meta well thought out. Like I'm going to explain to you, there's no way to do layoffs properly, but this is the best we came up with. And here's why we did it that way.

• neutral fact_claim Unattributed

  In the post, he says, you know, three main reasons, right? Economic conditions have changed. Managing costs is critical and down market. And Coinbase grew too quickly. He said they have to manage expenses and increase efficiency. And that's why they're doing these apps.

• bearish assessment Unattributed

  So if they had done a layoff of this size in say, January 2021, that would have been 90% of the company. It's a massive, you know, we talked about, like a 25 point swing and the Warriors game, this is kind of like that. I mean, it's intense.

• bearish assessment Unattributed

  Right. And $6 billion is a pretty good amount of cash. But not if your core business is declining rapidly.

• bearish assessment Unattributed

  All right, it's very important to note. People get a little confused about this. Yeah, there's revenue, there's how much cash you have. And then there's the market capitalization. And now people will say, well, this company is was worth 100 billion. So that doesn't mean they have 100 billion in cash laying around. That's the value put on the company by the last share bought times the total number of shares. That's how the valuation is done, right? The last person to buy a share buys it for $100.

• neutral fact_claim Unattributed

  This morning, Coinbase laid off 18% of its staff after obviously a pretty intense couple of weeks in the crypto space. Real quick note on Coinbase's stock performance going into these layoffs, which cannot have come as a surprise to anybody. The stock is down 78% from a year ago. It's down about 86% from its 2021 high of $357 a share in November. The market cap dropped from almost $80 billion in November, 2021 to 11.3 billion today. Coinbase looks like it's got as of Q1, at least $6.1 billion in

• mixed assessment Alex Wilhelm

  I read that blog post by Coinbase, and it was bad. It was one of their worst pieces of literature. I've read a lot of Coinbase stuff over the years. I've talked to Brian once or twice and covered the company through their direct listing and so forth. You could tell by the tone of that piece that they're worried, and I think they should be. Coinbase, I actually view as a relatively good actor in the crypto space compared to everyone else. I don't think they should even be that concerned, except f

• bearish fact_claim Unattributed

  the SEC in a separate complaint said it considered at least nine out of the 25 tokens trading in that scheme to be securities.

• bearish prediction Deirdre Bosa

  The question is then the question for Coinbase, will you have time? Will the market give you time to do so to clean up?

• bearish prediction Deirdre Bosa

  will Coinbase even have that chance, depending on how swiftly the SEC moves, which I don't have a lot of faith in Coinbase may not even be able to operate here in the US. And that would just be I mean, we're not talking about a pivot here, we're talking about an existential threat.

• mixed assessment Deirdre Bosa

  It reminds me of Uber. Move fast. Who cares what the regulators say? Because we're going to provide a service that consumers love. But here's the thing, the consumers love crypto right now. There's a lot of folks that have been burned that may not be behind Coinbase at this moment. But it feels like this sort of combative with the regulators, we're going to do what we want. They're also spending a ton of money on lobbying.

• bearish criticism Deirdre Bosa

  they started very cautious, you know, saying we're only going to have a certain amount of tokens, the ones that are tried and true. And then they started to lose to the competition. So they added a ton more. And that has gotten them in trouble.

• bullish assessment Unattributed

  blackrock chose to partner with coinbase because of its scale and role in providing trading custody services prime brokerage and reporting capabilities ... blackrock's focus of the partnership with coinbase will initially be on bitcoin

• bullish fact_claim Unattributed

  all this trading volume uh in q2 was institutional investors so it makes sense

• bearish assessment Unattributed

  i believe they're closer to stocks than they are to chucky cheese tokens or airline miles or utility tokens

• bearish criticism Unattributed

  i think a lot of people also suspended disbelief in this regard and it needs to be cleaned up and the cleanup process as we know can be messy

• neutral fact_claim Unattributed

  the key stat uh 235 billion dollars of the 309 billion in trading volume on coinbase was by institutional investors about 76 percent

• bullish prediction Unattributed

  i think that's probably the future of the business and that's why they've done i think you know uh or they'll continue to do cuts and resizing of the business to focus on institutional because institutional does still seem to believe in this

• bearish assessment Unattributed

  9.2 monthly transacting users um in coinbase's last quarter and that would be the number you really want to watch going into q2 because that's when the market really got scary

• bearish assessment Unattributed

  last quarter its revenue growth was negative down 35 percent and um yeah live by the gun die by the gun it's pretty amazing to see this come apart

• mixed assessment Unattributed

  i don't think this is existential for coinbase at this point but it's acute i think it's a very acute situation um i don't think coinbase is going away

• bearish assessment Unattributed

  i think this is all the retail traders are just gone

• bearish criticism Unattributed

  coinbase um because i think cryptocurrency could be having um what i would consider an existential crisis

• neutral fact_claim Jason Calacanis

  over the past five days miraculously coinbase's market cap is up 50 percent from uh about 14 billion to 20 billion

• bearish criticism Jason Calacanis

  if you were a vc if you invested in coinbase my lord you should have distributed all the shares

• bearish fact_claim Jason Calacanis

  the sec is investigating coinbase over selling unregulated securities on its platform

• bullish fact_claim Jason Calacanis

  blackrock is partnering with coinbase to make it easier for institutional investors to manage and trade bitcoin

• bullish endorsement David Friedberg

  um but the truth is uh coinbase and shopify i think you know both brian and toby said you know we're this is a business this is not the place for politics we you know we have like one mission you know uh cryptocurrency for the world to free the world and you know help people who want to build mom and pop shops like enough let's get focused

• neutral prediction Brian Armstrong

  brian armstrong told cnbc that there are likely more shoes to drop in crypto and that the company is trying to get ahead of this kind of ongoing crypto winter

• neutral fact_claim Unattributed

  coinbase cutting twenty percent yesterday

• bearish criticism Sandeep

  every time I go in the Coinbase app, they're promoting all kinds of different financialization of, you know, whether it's a staking product and APY product, they're promoting, um, and going back to your point, Jason, they're promoting random tokens that, you know, are, we don't know the depth of like how, how much work the project has done, you know, what, what really exists. And so, um, from, from that perspective, I'm not a fan of that stance, right? Because, you know, they're sort of driving

• bearish assessment Jason Calacanis

  this question of enforcement of exchanges and pooled staking is more existential for Coinbase.

• bearish assessment Unattributed

  the SEC can and should regulate Coinbase, Kraken, et cetera.

• neutral fact_claim Vinny Lingham

  And, and Coinbase has made it very clear that they're going to go and fight in court.

• bearish criticism Unattributed

  When you create something on AWS, it's kind of usable everywhere. If you create something on this, on this particular blockchain, it's not usable everywhere else. Right. So you're really, you know, it feels much more like walled garden than it does sort of an open platform.

• bearish criticism Unattributed

  for Coinbase, what they really have to show. And that's why I started with that is maybe if they move their a hundred plus million people and a set of addition, like their core services, but some additional services to this blockchain and show the benefit of using it. So like, as AWS did, we may see some innovation happen there. And I think in advance of that, like, I, I haven't seen anything about Coinbase moving their entire, you know, um, trading system and everything else to, to this protoco

• mixed assessment Jason Calacanis

  one thing that's happening is obviously a need for diversification. We know that if your primary business relies on trading volume and you're not seeing a lot of that, you definitely have to diversify creating some version of AWS, which prints cash for Amazon seems kind of smart. Create a dev environment to help popularize the kinds of things that will bring more volume to Coinbase. The concern is, did you just create a dev playground and there are no kids in your neighborhood?

• bearish criticism Unattributed

  the L2 space is overcrowded. The L1 space is overcrowded. We haven't seen clear winners emerge outside of Ethereum and maybe Solana, uh, in the L1 space. And in the L2 space, it's still very subjective because they're very highly centralized. All these L2s are, I mean, this is a very centralized L2. It's an L2 run by Coinbase. So you can't get it more centralized. So it's not in the ethos of crypto, you know, from, like an old school OG perspective, but it may be something which uses my practica

• bearish criticism Vinny

  Like for Coinbase, outside the co offering, nothing has really worked well.

• mixed assessment David Friedberg

  according to the chief legal officer at coinbase he says tell us the rules and we'll follow them give us an actual path to register and we will register the parts of our business that need registering that's a fine sentiment except that a lot of people lost their money and so you need to play by the rules unless you guarantee the betterment of society and people will forgive you in my experience

• bearish criticism David Friedberg

  when crypto collapsed and there was a bunch of grift and fraud there whether it was coinbase employees front running the market

• bullish endorsement David Friedberg

  coinbase is a public company they tried to run the company you know as honestly as possible i actually believe that

• bearish criticism David Friedberg

  better off buying treasuries for five percent instead of playing in the crypto space

• neutral fact_claim David Friedberg

  coinbase has been issued a wells notice by the sec this meaning this basically means that the sec is about to take legal action against the crypto exchange

• bullish fact_claim Unattributed

  actor traders they went to all the other exchanges outside the us they didn't go to coinbase and so

• neutral fact_claim Unattributed

  binance is the largest crypto company in the world even bigger than coinbase itself finance trades four billion dollars worth of bitcoin per day coinbase does around 500 million so it is significantly larger

• bearish criticism Nick

  what's the incentive to buy coinbase if you know that they have no downside protection against people stopping people getting uninterested in crypto again

• mixed assessment Nick

  transaction-based revenue is low quality revenue it's completely spiky it's totally dependent on what the market sentiment is at current time and just like robin hood since robin hood went public they've basically been trying to diversify away from transaction-based revenue away from payment for order flow obviously coinbase doesn't have that kind of revenue but don't you think that they need to find somewhere else like i thought the coinbase cloud idea was a good upsell to investors like hey we

• bearish criticism Vinny Lingham

  they want to build it all themselves they're very apple-esque in a way and they're burning cash and like i i if i were if i was if i was a coinbase i'd be like look just go down back to basics

• neutral fact_claim Vinny Lingham

  coinbase did run a whole bunch of things through the sec and at some point someone in the organization you know greenlit listings etc

• mixed assessment Vinny Lingham

  I think it's actually a healthy thing that this is happening now that the sec puts together a lawsuit and goes yes goes to court and you know both sides fight it out and it takes a year or two to resolve whatever let's get this let's get this done let's get it put behind us right now... I know it's not great for coinbase in the short term

• neutral fact_claim Vinny Lingham

  it's quite surprising for them to you know go after you know a u.s regulated you know uh compliant entity in this way

• neutral fact_claim Unattributed

  coinbase saying listen if you're going to work here we have one mission don't talk about social issues here

• bullish prediction Unattributed

  a couple of weeks ago on the program i was looking at all the headwinds and i don't short stocks because i'm like a positive person i like you know making bets for a decade or two and and seeing where it goes uh don't really like the concept of shorting things uh just emotionally or you know aesthetically even like it just feels like so negative and i was looking at all of the headwinds against coinbase and i said if there was ever a time i would make a bet against a company in a sector it would

• bullish endorsement Unattributed

  somebody i look at that like is uh brian armstrong right um you know he was these kinds of people are so dedicated to shaping the world in a way that they believe it should be shaped that they're willing to go through sort of like brimstone and fire to be able to get there

• bullish endorsement Unattributed

  what i love about this is right now i'm playing three different people in your organization i pay for superhuman i pay for grammarly and i pay for coda happy to do so it's you know thousands of dollars a year each but i get uh plenty of value for those dollars but here you can get superhuman free with uh a little bit of coda and go and grammarly you can pay for pro and that's only 12 bucks a month um and you get grammarly coda and go or you can get business and i guess i get everything there and

• bullish fact_claim Unattributed

  the company's going through a massive transition obviously the multi-product transition is a big one it leads to us having a suite of offerings that you can buy in a bundle we'll come back to that i'm sure um but it also means we're a platform so there's a number of companies that we want to bring on this platform and the de facto case is going to be we work with you as partners

• bullish endorsement Unattributed

  i think it's deeper right i mean i think the the operating system can do a lot of things in your windowing system and so on but just you know as an example we've done the hard work to integrate right into your google doc so we show up with an underline under the perfect word when you're writing in a desktop app like slack we can show up right in the middle of it and tell you that you're about to schedule this uh this meeting and actually three of the people can't be there or you're talking about

• bullish endorsement Unattributed

  what do people really love about grammarly it's that it works everywhere and we we work in a million unique applications that's every web app every desktop app every mobile app you know many people know us from our chrome extension but we actually work in everything we'll work in you know word and slack and we'll work on like you said uh on the keyboard as well and so that ability to bring that set of context to all your applications i think is very unique to our approach and i to be honest i do

• neutral fact_claim Unattributed

  the most famous one was probably sbc and at&t um where the sbc bought at&t and then turn at&t into the list uh another one was ziff davis

• bullish assessment Unattributed

  we are the ones that make people more human everybody else is trying to get ai to replace humans we're going the other way around

• bullish fact_claim Unattributed

  we are building a set of agents ... we're opening up the platform so many other people can do it today uh about a dozen other partners also launched their agents with us ... and we're enabling customers to build their own

• bullish fact_claim Unattributed

  we launched a new product we're calling it superhuman go ... it's our new ai assistant product it's a platform that brings your network of proactive and personal ai assistants directly embedded into your work

• bullish assessment Unattributed

  the biggest product in the set is is grammarly ... but we thought as we thought about a proper corporate brand that can house the breadth of ambition you know the superhuman was the obvious uh obvious choice

• bullish assessment Unattributed

  superhuman is a more expansive name okay great we all want to be superhumans it's a very aspirational awesome name when i heard that name from raul when he was starting the company i loved it

• neutral fact_claim Unattributed

  you have tens of millions of people 40 million daily active users

• neutral fact_claim Unattributed

  we're launching three big things today we're launching a new company name we're launching a new product uh we call superhuman go and we're launching the new suite

• bullish endorsement Unattributed

  i'm huge fans of grammarly and was the first investor

• bullish assessment Unattributed

  highly profitable company extremely stable revenue no investors two owners they can do what they want and they can pursue whatever they want

• bullish fact_claim Unattributed

  if you're at 37 signals they took a similar approach hey if you want to be here uh you're here to make great productivity software full stop and that's it and then here's an incredible pay package

• neutral fact_claim Unattributed

  i think they bought out bezos who was a their only investor uh back in the day

• bullish assessment Unattributed

  who use base cam they just love it they're never going to stop using it okay period full stop

• bullish fact_claim Unattributed

  so they are a highly profitable uh software company that has existed for a long time with a loyal base of users and it is um pretty reliable uh that those revenue streams people

• neutral fact_claim Unattributed

  our friends over at 37 signals dhh and jason freed uh are talking today quite a lot about their use of sabbaticals this is a six-week break for workers in their third year at the company as part of their overall kind of like kind setup for their staff including four-day work weeks from may through september

• neutral fact_claim Unattributed

  we are going to underwrite this uh we being uh the us government but we're going to be underwriting it with some amount of the um capital coming from japan uh and in return for their participation i'm unclear as to what they get but the us is going to get a 20 share in any dividends that come out of westinghouse above 17.5 billion yeah and then um if this does come to pass in the next three years and westinghouse's valuation which is a private company currently i understand if that becomes worth

• neutral fact_claim Unattributed

  the us is going to underwrite about 80 billion dollars worth of new nuclear reactors with westinghouse and japan comes into this because if you recall the current trade agreement between our two nations involves some japanese investment into the us so some of that capital is going to flow into these nuclear reactors now it's not all just gifts from the government uh in exchange for their participation the us gets a 20 percent share in any dividends that come out of westinghouse that exceed 17.5

• neutral assessment Unattributed

  this applies to a certain class of companies not most startups and probably not places that a lot of people are going to end up working at because 37 signals is only so big

• bullish assessment Unattributed

  that's the equivalent of 37 signals they're they're chanel in this equation they're not grinding it out versus 20 competitors who are going to eat their lunch

• bullish assessment Unattributed

  the context is highly profitable company extremely stable revenue no investors two owners they can do what they want and they can pursue whatever they want

• neutral assessment Unattributed

  if you tried this strategy and you were up against open ai and xai you would fail miserably so you do need to understand the game on the field

• neutral assessment Unattributed

  if you've built a company that's resilient and you have plenty of people and you're overstaffed by 20 it doesn't matter if people go on sabbatical for six weeks so you can build companies like that

• bullish endorsement Unattributed

  they took a similar approach hey if you want to be here uh you're here to make great productivity software full stop and that's it and then here's an incredible pay package

• neutral fact_claim Unattributed

  when you start a company and you don't have a bunch of investors which they don't i think they bought out bezos who was a their only investor uh back in the day they can build the world they want to live in

• bullish endorsement Unattributed

  who use base cam they just love it they're never going to stop using it okay period

• bullish assessment Unattributed

  so they are a highly profitable uh software company that has existed for a long time with a loyal base of users and it is pretty reliable uh that those revenue streams

• neutral fact_claim Unattributed

  So that's a lot of acquisitions. I think they're using their balance sheet to buy stuff.

• neutral assessment Unattributed

  Take a look at this chart right here, Jason. This just maps out Coinbase Ventures investments over time. And they've had so many deals from 2020 through 2020, late 2022. I presume that some of those are maturing and maybe they're the right pickup time for the company just to bring them in-house.

• bullish prediction Unattributed

  And now I think this would, I think Coinbase is on a shopping spree now.

• neutral fact_claim Unattributed

  So you could see that 2020-24 period, it kind of slowed down under Biden.

• neutral fact_claim Unattributed

  they did nine deals in 2018. Looks like they did two deals in 2019, one deal in 2020. Okay. Wrath of Lena Kahn starts. Looks like they might have done up to seven very small ones in 2021. One in 2022, one in 2023, one in 2024. And they've done five now in 2025.

• neutral assessment Unattributed

  Coinbase has bought a lot of companies, I think.

• neutral fact_claim Unattributed

  Coinbase announced last week that it's working with Kalshi initially to bring prediction markets onto Coinbase, trying to build a more broad exchange.

• neutral fact_claim Unattributed

  Coinbase is going to buy the Clearing Company for an unlisted price.

• mixed criticism Chamath Palihapitiya

  i think that this whole thing became a quagmire unnecessarily i think that he showed um a lot of naivety um and frankly like um you know a little bit of stupidity really um it was really poorly written um and that's why it's been so misunderstood and misconstrued in my opinion i think a lot of what he had to say was valid but when it was so poorly presented and you know the the essay was like eight minutes and it was rambling and the mission was like you know 97 down on the you know and it's jus

• bullish endorsement David Sacks

  i also genuinely like the manifesto um and i think you know his argument kind of boils down to three components i think number one that having these debates on every issue or whatever the issue du jour is pulls the company's focus away from its core mission which he really emphasized and um you know that mission mission is challenging enough in its own right um second he was saying that and this is something i've said before as well which is just that politics is just increasingly divisive in ou

• bullish endorsement Unattributed

  he was coming from a reasonable place he had the right to say what he said

• bullish fact_claim Unattributed

  only five percent of coinbase's employees took armstrong up on that offer to leave

• bullish endorsement Unattributed

  this election proves that brian armstrong was right

• bullish assessment Brad Gerstner

  the reality is you should allocate to things that you think are thematically highly asymmetric and great ideas and and this was one of them and one we missed

• bullish fact_claim Jason Calacanis

  so so ribbit made the 500x and i guess andreessen but andreessen made like 20 billion of returns of which you know they're probably getting 25 30 percent so they they made the most money uh may not have been the highest irr but it was the most money and you're right they doubled down in this like 2018-2019 period it sounded like they were doing a bunch of secondary buying they were buying the stock at 25 bucks yeah they bought it all from fred wilson and union square so as much as from other inv

• bullish assessment Chamath Palihapitiya

  one of the most incredible things that i thought about the coinbase um uh s1 was the amount of unbelievably smart buying that andreessen did and i thought to myself andreessen just out sequoia at sequoia and what do you guys think about sort of how they've been able to to actually execute it just seems like andreessen is done an incredible incredible job

• bullish assessment David Sacks

  apparently the coinbase's ban on politics in the workplace and their refusal to submit to new york times interviews did not prevent them from creating an 85 billion dollar company

• bullish assessment David Sacks

  i think companies in startups are increasingly have to choose whether they want to be apple or whether they want to be um coinbase or shop 5 for that matter... founders are going to have to make a decision do you stand up and take a brian armstrong like position or a toby position

• bullish endorsement Chamath Palihapitiya

  freeberg uh i'm less interested in the hypocrisy and the values debate which is obvious that's kind of the first order point with all this stuff it's like do the employees have the right values is there hypocrisy by management is there hypocrisy by the employees what strikes me though is um a failure of leadership at these organizations you guys think back to brian armstrong's kind of purging of the woke mob and the political discourse that was happening at coinbase a few months ago he took a po

• bullish endorsement David Friedberg

  it'll take many other companies to do what coinbase is doing and recent us in this podcast us with our tweets and our memos and our posts i think it's it's all in the good positive direction

• bullish endorsement David Friedberg

  i think the spillover effects to other companies can be really positive ... the fact that coinbase will have a place that says here are the facts and we're gonna put it on chain permanently on the record that's i think a really powerful idea

• neutral fact_claim David Sacks

  they're going to start using the coinbase blog as a forum basically as a media publication for for crypto related things and the fact check part is that when the popular press gets crypto wrong which they do frequently in coinbase's view coinbase is going to call them out and correct them

• bullish prediction David Sacks

  potential to lead to huge systemic changes

• bullish endorsement David Friedberg

  this memo is excellent and if you haven't had a chance to read it we'll put it in the show notes but brian's essay is super

• bullish fact_claim Unattributed

  dixon of course had a huge hit with coinbase going public in 2021 and had invested in every single coinbase round is how committed he was to that company and it paid off nicely

• bearish prediction Jason Calacanis

  The fact that, you know, somebody who is considering taking that much Bitcoin off an exchange is exactly the potential start of the worst case scenario.

• bearish assessment Unattributed

  They're getting looped in with all the other crypto companies.

• bearish assessment Deirdre Bosa

  Coinbase is in a world of pain, right? We've seen that stock price decline.

• neutral fact_claim Unattributed

  And we've seen it before when Brian Armstrong implemented his policy of no politics in the workplace at Coinbase, who then retaliated against him. He got a New York Times hit piece that was they are the enforcement wing of the woke mob.

• neutral fact_claim Brian Armstrong

  there is this concept of like an exchange token and there's a couple other firms out there that have them and that's something we haven't done... if you're trying to raise money for your company and a token through a token that's fine that should be a security and there should be a regulated way to do that in the us like go register it with the sec that's what we've been wanting to do for a long time

• neutral fact_claim Brian Armstrong

  luckily since then we have had a lot of productive dialogue with both the sec and the cftc and treasury and all kinds of people in congress

• neutral fact_claim Brian Armstrong

  coinbase has a big business there

• bullish fact_claim Brian Armstrong

  i again just for the sake of clarity i should say that coinbase did not have any material exposure to um alameda ftx or ftt token

• bullish fact_claim Brian Armstrong

  so that's the case with coinbase you don't have to take our word for it by the way you can look at our audited public financial statements as a public company with a independent you know big four accounting firm who went to go verify all of that and that's what various custodians and exchanges that's what they all should be doing if by the way if you're regulated as a bank you can actually uh go invest some of those but there's very strict regulation around that and capital requirements and what

• mixed criticism Brian Armstrong

  companies like coinbase are already regulated but we don't have clarity about the crypto specific regulations like what's a commodity what's a security and that lack of regulatory clarity i believe has pushed a lot of this business offshore to these less regulated exchanges that's part of what caused the blow up today

• bullish fact_claim Brian Armstrong

  we've been pursuing a different strategy for the last 10 years we're a public company we're we're regulated our our financial statements are audited they can show that you know customer funds are segregated they're backed one to one we're not investing customer assets without their explicit direction

• neutral fact_claim Unattributed

  look coinbase is a fully regulated they're not set up in the bahamas and they're not unregulated

• bearish assessment David Sacks

  the sec just sent coinbase a wells notice so i think it's hard to argue that there isn't a concerted effort now to crack down on crypto by a wide variety of government agencies and authorities starting with gensler at the sec who seems incredibly hostile to crypto

• bearish fact_claim Unattributed

  we saw the wells notice at coinbase today

• bearish assessment David Sacks

  The government led by Gensler is in a full assault on crypto. And the goal is basically to either destroy it in the US or drive it offshore.

• bearish prediction Chamath Palihapitiya

  I just don't think that there's a lot of political support to visit this issue right now. And so unfortunately, I'm pretty skeptical that you're going to see any form of legislation pass. I unfortunately think that the SEC has by and large, put the entire sector into mate. And so I think that what Jason said is largely right, which is that it's going to force these companies to preserve enterprise value, to, to leave the United States and to jurisdictionally operate from a different place and to

• bullish endorsement Chamath Palihapitiya

  I think Brian Armstrong is, is a really, really, really good entrepreneur. And I'm a really big fan of his.

• bearish criticism David Friedberg

  it's that the exchange contains unregistered security.

• bearish fact_claim Jason Calacanis

  Now they're going further, and they're basically saying it is illegal to operate a crypto exchange in the United States.

• neutral fact_claim Unattributed

  the case against Coinbase, they're alleging a completely different set of facts, which is effectively what Gensler and the SEC are saying is that it is not legal to operate a crypto exchange in the United States.

• bearish prediction Chamath Palihapitiya

  I think there's two ways to look at this one is the conspiracy theorist way which you see a lot on Twitter, which is this idea that crypto is making all of these inroads as a replacement mechanism for fiat currency. And so governments are really now invested in trying to shut it down. I think that's largely untrue. And then there's the more simple basic reality, which is that there was one part of the SEC that frankly, didn't do the job that they were supposed to by either allowing a few of thes

• bullish endorsement David Sacks

  Remember what Brian Armstrong did at Coinbase? He basically just said, listen, we have a mission here. It's around crypto. We're going to focus 100% on this mission. And if you're not on board with this mission or want to capture this institution to promote other missions, this is not the place for you. Go do those missions somewhere else. And it works. He took a hit. The New York Times wrote their obligatory hit piece.

• neutral assessment Unattributed

  we've now coinbase become yeah coinbase brian and his letter and we've now seen this become i think a bit more of a standard

• neutral fact_claim Brian Armstrong

  So one of the big pushes we made in the last year was, um, we got our own internal hosted AI model that was connected to all of our data sources. Right? So it's like every Slack message, every Google doc, every Salesforce data confluence, you know? So now, um, this is all linked up and you can ask these agents. So every team is legally, sorry, every team is using it. Um, legal finance, everything. ... I've started to ask it really, it's not just like prompting it, Hey, can you write this kind of

• bearish criticism David Friedberg

  the thing I've seen the, probably one of the hardest thing you had to deal with, with your employees and your team at Coinbase is the price of their housing. Like how many times did you try to recruit somebody to come to California? Yeah. And it's like a family of, you know, four and they need private school.

• bullish fact_claim Brian Armstrong

  We've integrated one into Coinbase app. It can kind of teach people about dollar cost averaging and, you know, tax loss harvesting. So there's a, the financial literacy is a part of it, but then yeah, let's make high quality investments available to them and democracy. It's just like lifting people out of poverty. It's great.

• neutral fact_claim Brian Armstrong

  we actually just published this, this report recently and people have heard about the unbanked, but there's actually 4 billion adults who are unbrokered as well, which means they don't have any ability to invest in these high quality assets.

• neutral fact_claim Brian Armstrong

  this is what we're chatting with the SEC about and others is like, you know, can you go register a security?

• bullish prediction Brian Armstrong

  I think on-chain capital formation is going to be massive for private companies. I think eventually like you'll actually just be able to go public totally on chain too.

• bullish fact_claim Brian Armstrong

  Coinbase launched a product actually called Coinbase Tokenize. So we're helping any fund or real estate project or anybody who wants to tokenize their products and it just democratizes access. It increases demand. It gets rid of a lot of the back office fees, gets rid of the settlement risk because it can be settled instantly on chain.

• bullish fact_claim Brian Armstrong

  We also launched something called Coinbase developer platform, which provide, it's kind of like AWS if you want it. So that's like, you can white label anything like with the banks, but lots of other businesses are using that for wallets, trading payments, staking, financing, all kinds of things.

• bullish fact_claim Brian Armstrong

  the biggest growth area over the last year has been B2B cross border payments... we launched a product called Coinbase business, which is serving lots of small and medium sized companies who want to do cross border payments and invoicing and tax and accounting and all that. ... Currently they're beating a path to our door. We have, we actually have a huge backlog. We need to evolve for people waiting to onboard. So we need to staff up that team.

• bullish assessment Brian Armstrong

  we're long, I think that, yeah, the biggest trends are all assets are coming on chain for trading. Prediction markets are growing like crazy and stable coin payments are growing like crazy.

• bullish fact_claim Brian Armstrong

  We're working with CalShe currently. ... It's not exclusive. So we're looking at others as well.

• bullish assessment Brian Armstrong

  I think of it a little bit like the app stores, right? I mean, you, or the, or, let's say Amazon. I mean, you want to have the everything exchange. You want to have the everything store, you know, everything that's legal should be in the store, but maybe there's customer reviews.

• neutral fact_claim Brian Armstrong

  So what we try to do is have minimum listing standards. So if we believe that there's a cybersecurity risk to it, the developer could, you know, rug everyone, or if it's illegal from a compliance point of view, you know, there's a few different areas we look at. So if it meets the minimum bar, we will list it. And then we let customers decide. I don't feel like it's our job to be recommending investments.

• neutral fact_claim Unattributed

  We support it in certain ways. You know, especially people who want to convert Tether, but we support it.

• neutral fact_claim Unattributed

  We also support PayPal stable coin. We're open to listing others too.

• bullish fact_claim Unattributed

  We've got a strong relationship with Circle. And USDC is the largest regulated stable coin because it is compliant under Genius in the US, compliant under MiCA in Europe, et cetera, et cetera.

• neutral fact_claim Unattributed

  I think there's the bank trade groups, which I believe are trying to undo the Genius Act. And for us, that's a red line.

• neutral fact_claim Unattributed

  we don't have an exclusive with Circle. We actually list other stable coins on our platform.

• bullish fact_claim Unattributed

  we actually pass along about 100% of the economics to them for holding those stable coins with us. And that's a big driver of growth.

• bullish fact_claim Brian Armstrong

  I met with one of the top 10 global banks in the world yesterday and the CEO told me crypto is is my number one priority. We view that this is existential. We're all in.

• bullish fact_claim Brian Armstrong

  we also, by the way, have the Genius Act, the stablecoin bill is now passed into law.

• bullish assessment Brian Armstrong

  He's leaned in and tried to get clear rules and regulations passed so that American companies can thrive.

• bullish fact_claim Brian Armstrong

  we're also powering integrations with like BlackRock. And, you know, they've said they want to tokenize every single one of their funds.

• bullish fact_claim Brian Armstrong

  five of the top 20 global banks are now using Coinbase to build their crypto infrastructure into their products.

• neutral fact_claim Jeremy Allaire

  Now all the coin base has it.

1. 2028-02-12 i would put airbnb uber coinbase uh robin hood now i'm in two of those four names · Prediction · pending
2. 2028-02-12 i do think that robin hood and coinbase and all these financial services companies are going to have great subscription revenue · Prediction · pending
3. 2028-02-12 How amazing would it be if your Amazon account was connected, or your Apple account was connected to your Coinbase account, and that was, you know, Coinbase was owned by Apple, or Robinhood was owned by Apple, what an amazing future that would be · Prediction · pending
4. 2028-02-12 And it'll be great for Coinbase for circle for any of the legit players, this regulation is going to drive more customers and more lock in. · Prediction · pending
5. 2028-02-11 will Coinbase even have that chance, depending on how swiftly the SEC moves, which I don't have a lot of faith in Coinbase may not even be able to operate here in the US. And that would just be I mean, we're not talking about a pivot here, we're talking about an existential threat. · Prediction · confirmed
6. 2028-02-11 The question is then the question for Coinbase, will you have time? Will the market give you time to do so to clean up? · Prediction · confirmed
7. 2028-01-26 potential to lead to huge systemic changes · Prediction · pending
8. 2028-01-25 The fact that, you know, somebody who is considering taking that much Bitcoin off an exchange is exactly the potential start of the worst case scenario. · Prediction · confirmed

VentureSignalScore 41.2/100 for coinbase, composed from 1 of 4 components (emerging formula), discounted ×0.76 for 20% signal coverage