Coinbase IPO - thoughts? #The Most Important Thing 

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The Most Important Thing

Coinbase IPO - thoughts? #The Most Important Thing

Coinbase said the SEC had dropped its lawsuit against the company

https://sherwood.news/crypto/sec-drops-coinbase-lawsuit-ceo-armstrong-is-hugely-vindicated-gives-credit/?utm_source=snacks&utm_medium=email&utm_campaign=snacks_20250224&utm_content=b93448d648a2b1bc720fc99584cae665

Anyone buying the dip?

Coinbase said the SEC had dropped its lawsuit against the company  https://sherwood.news/crypto/sec-drops-coinbase-lawsuit-ceo-armstrong-is-hugely-vindicated-gives-credit/?utm_source=snacks&utm_medium=email&utm_campaign=snacks_20250224&utm_content=b93448d648a2b1bc720fc99584cae665  Anyone buying the dip?

Shares of the crypto exchange rose on the news....

SEC drops Coinbase lawsuit; CEO Armstrong is “hugely” vindicated, gives credit to Trump

Cyril

Alex

My perspectives and the market have changed a lot since my last comment.  

Do we think Bitcoin is still a Strong Proxy for Coinbase Shares?

Here’s something Brian Armstrong is likely thankful for this Thanksgiving weekend: Shares of Coinbase, the crypto exchange he co-founded, closed up nearly 6% to $115.54 on Friday, bringing their past week’s gains to more than 16%. Year-to-date, Coinbase shares have more than tripled.

To some extent, you can attribute Coinbase’s gains to the missteps of its competition. On Tuesday, Binance CEO Changpeng Zhao pled guilty to breaking U.S. anti-money-laundering laws and stepped down, and Binance agreed to pay $4.3 billion in fines. Meanwhile, onetime Coinbase rival FTX is in bankruptcy, and Sam Bankman-Fried is in prison awaiting sentencing on fraud convictions. In short, Coinbase clearly stands apart from those other exchanges. 

But how much of Coinbase’s stock rally is because of its strengthened competitive position, and how much is simply a recovery in the crypto markets? Probably a bit of both. The price of bitcoin is up 128% this year, a rally which—if sustained—should over time bring more people back into the market and onto Coinbase's trading platform.

I’m buying ETH #Crypto 
 
Coinbase feels like the AOL of crypto.  That’s not a knock - I still expect It will be a great business for a long time. @Alex

I’m buying ETH #Crypto    Coinbase feels like the AOL of crypto.  That’s not a knock - I still expect It will be a great business for a long time. @Alex

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My perspectives and the market have changed a lot since my last comment.    Do we think Bitcoin is still a Strong Proxy for Coinbase Shares?  Here’s something Brian Armstrong is likely thankful for this Thanksgiving weekend: Shares of Coinbase, the crypto exchange he co-founded, closed up nearly 6% to $115.54 on Friday, bringing their past week’s gains to more than 16%. Year-to-date, Coinbase shares have more than tripled.  To some extent, you can attribute Coinbase’s gains to the missteps of its competition. On Tuesday, Binance CEO Changpeng Zhao pled guilty to breaking U.S. anti-money-laundering laws and stepped down, and Binance agreed to pay $4.3 billion in fines. Meanwhile, onetime Coinbase rival FTX is in bankruptcy, and Sam Bankman-Fried is in prison awaiting sentencing on fraud convictions. In short, Coinbase clearly stands apart from those other exchanges.   But how much of Coinbase’s stock rally is because of its strengthened competitive position, and how much is simply a recovery in the crypto markets? Probably a bit of both. The price of bitcoin is up 128% this year, a rally which—if sustained—should over time bring more people back into the market and onto Coinbase's trading platform.

D J

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