Disclaimer: I own Coinbase and I have added in this major fall in the stock.
How would you look at this company right now? Their earnings power is obviously decreasing rapidly due to 1. Non sustainable fees 2. Crypto winter. On the positive side they are basically 1. The rails of US crypto 2. Leading (trusted) crypto exchange 3. Coinbase ventures has stakes in many up and coming project 4. “no bullshit” culture – they are there to create business value and future solutions 5. Strong CEO 6. Compliant, where others are black market or grey market
How would you value this stock today? As per Q1 2022 they had 6.1 billion USD net cash and 1 billion USD in crypto.
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