Coinbase Global Inc (COIN)

[Mother Lode]

Getting a mini runup in the BTC spot market

[NOBO]

Correct -- but Coinbase will very likely shake out as the best in its sector .

[shajandr]

LEHMAN BROS was a public company. So were WORLDCOM, HEALTHSOUTH, BLOCKBUSTER, RADIO SHACK, KODAK, PETS.COM, ENRON, and many, many others which went bankrupt and/or ~OUTT of business.

[shajandr]

“They Are All Equally Risky”

The bigger effect here is not so much the immediate financial consequences. It’s the loss of confidence this is going to instill in people, especially once they realize that nobody’s going to be able to save it.

Are there other worrisome spots with other major crypto players that you have an eye on right now?

I would not have my money in any of them. Legally speaking, if you read, for example, Coinbase’s own disclosures, even they admit that if they go bankrupt, any assets on that platform are their assets. Which is different from any other company. Even if they aren’t holding them forever, if they go bankrupt, there’s a very good chance your assets are locked up for years in a court battle. Why would you want to take that risk? You should not hold any of your assets on any of these centralized exchanges, and you shouldn’t be holding any of these default protocols, either, because basically, those are just piggy banks for these guys to raid. Then the market will collapse. If you believe in Bitcoin, Ethereum, or whatever, and you want to hold those assets, I don’t agree with your opinion, but you could do it. But put them on your own books so that way, at the very least, you don’t lose title to them, as you almost certainly will if you have them in any centralized entity.

That’s a blanket statement. I can’t say there’s a specific company that I think is worse than any other. They are all equally a risk. If anybody has any sense at this point, they’ll be pulling their money out of these things.

https://slate.com/technology/2022/11/ftx-collapse-sam-bankman-fried-dirty-bubble-cryptocurrency.html

[NOBO]

The difference is COIN actually is public and shows debt and financials . They are also the ONLY exchange allowed to operate in many US States because they are the only one to comply with requirements.

[shajandr]

Nobuddy lobbied for crypto regulation more than SBF:

https://www.coindesk.com/policy/2022/11/10/washington-dcs-buddy-sam-bankman-fried-has-some-explaining-to-do/

[Expensivetaste281]

That’s what I’m betting on too

[NOBO]

It did -- it soared on arguably one of the worst news days

[NOBO]

agree

[Rick001]

Coin can rise with crypto down

[Rick001]

I’d expect a comment soon on new customers

[BottomBounce]

JPMorgan Expects Crypto Market to Face Weeks of Deleveraging – Warns Bitcoin Price Could Drop to $13K
https://news.bitcoin.com/jpmorgan-expects-crypto-market-to-face-weeks-of-deleveraging-warns-bitcoin-price-could-drop-to-13k/ $COIN

[NOBO]

Also COIN is the only exchange allowed in certain states in the US because they meet regulatory requirements and reporting. COIN lobbies for sensible regulation in DC because they know it clearly benefits them.

[NOBO]

I dont think so . And during the FUD COIN soars 11 percent ?

But you never know.

COIN is certainly the most transparent out of all.

[shajandr]

COIN will be the Lehman II of this financial crisis. FTX is the Countrywide II. Both will go BK and the stocks to ZERO/worthless. FTX is private. COIN will be the first big public company BK and liquidation of this financial bubble pop cycle.

Lehman Brothers II

~OUTT-of-business

[shajandr]

Next domino to fall after FTX is COIN.

COIN comment begins at 6:53

[Benztrader]

Many green candles...

[Lowjack]

Probably don't even need to cover my short now! Same carnage as Solar had! You boys remember that for the next Woke fantasy!

Also, grab your ankles, the SEC is coming and they are bringing the large sized probe!

[BottomBounce]

$COIN has total debt of $3.68B and book value is only $24.83. Beware over that price in my opinion.

[shajandr]

COIN shorts are making Smores over the bonfire of COIN common stock sharea as this shit.shack burns to the ground.

Lehman Bros. II

[Benztrader]

$COIN Shorts will be toast!

[Benztrader]

$COIN up %10

[shajandr]

Investors are Withdrawing Bitcoins from Coinbase Global (COIN); Now What?
October 19 2022
(NASDAQ:COIN), witnessed a massive outflow of digital currency on October 18, as per data provider CryptoQuant. About 48,000 bitcoins (BTC-USD) valued at $940 million were withdrawn from Coinbase Pro yesterday. Following the news, COIN stock fell 4.3% to close at $66.21. The outflow marked the largest since June 2022 and the second biggest in crypto’s history. The withdrawal suggests that investors are looking to accumulate digital assets in the wake of the persistent downfall in the crypto market. Notably, these outflows could have been conducted in over-the-counter trade and thus did not impact the prices of BTC.

[shajandr]

Sell Coinbase as rising competition and macro pressures will hurt the stock, Wells Fargo says

https://www.cnbc.com/2022/09/29/wells-fargo-initiates-coverage-of-coinbase-with-an-underweight-rating.html

This turd will be bankrupt and GONE in 2023.

Coinbase 2023 = Lehman Brothers 2008

COIN = LEH

[shajandr]

shajandr maintains and reiterates a COIN PPS price target of 0.0001 x Bankruptcy for 30 June 2023.

[shajandr]

https://news.yahoo.com/jp-morgan-analyst-drops-coin-price-target-saying-falling-cryptocurrency-markets-will-pressure-the-stock-price-214222560.html

[Benztrader]

$COIN NEWS

3iQ, Coinbase and Tetra Trust Joining Forces to Advance the Crypto ETP Space in Canada and Generate Additional Interest from Investor Community

[shajandr]

Coinbase is the Lehman Brothers of kleptocurrencies.

GONE by this time next year or sooner.

[Benztrader]

Buyer down here

[shajandr]

COIN = CON

[KICK1]

Coinbase to educate users on policies held by local politicians with new app integration https://cointelegraph.com/news/coinbase-to-educate-users-on-policies-held-by-local-politicians-with-new-app-integration via @cointelegraph

[Rick001]

Ya I bought in big at $68

[Benztrader]

$COIN on the Rebound!

[Benztrader]

$COIN Looking good

[shajandr]

Premarket under $65. DOWN more than 25 percent since 12 August.

Ethereum DOWN also, as is BTC.

[Juancy]

COIN crossed over 100 in pre-market this morning and Ethereum roaring back with proof-of-stake just around the corner. This should continue to help lift COIN so GLTA shareholders here.

[shajandr]

https://www.cnbc.com/2022/08/09/coinbase-coin-earnings-q2-2022.html

[Benztrader]

Buyer down here

[Juancy]

Over 100 this morning...Nice!

[tw0122]

Bitcoin going to do well as long as they keep on slapping $TNX down.

Great partner lol..How BlackRock lost $1.7 trillion in six months
Synopsis
BlackRock management was quick to invoke the first-half market carnage when revealing the investment performance last week. “2022 ranks as the worst start in 50 years for both stocks and bonds,” Chairman and Chief Executive Officer Larry Fink said on his earnings call
By Marc Rubinstein
Bloomberg
Jul 20, 2022, 10:11 PM IST

[Nivea67515]

We’re talking high volume here

[Nivea67515]

Shorts have to cover cause black rock is the richest organization of all time .

[Vexxed]

Goes to show how bad cathy woods really is as an investor. She bailed at $60

[Liam859]

$108!!!

[Liam859]

$103 holy!!!

[Mother Lode]

"DJ BlackRock Announces Bitcoin Partnership With Coinbase Amid Crypto Industry Turmoil -- WSJ"

"BlackRock, the world's largest money manager, announced a partnership with Coinbase Global on Thursday--some good news for an industry where layoffs and turmoil (https://www.wsj.com/articles/crypto-layoffs-hit-risk-and-compliance-staff-at-big-exchanges-11658223000) have become commonplace."

[tw0122]

For specific examples of customer complaints that have been filed by the thousands against crypto exchange, Coinbase, with the Consumer Financial Protection Bureau (CFPB), see our report: Crypto Victims’ Cries for Help Are Piling Up at a Federal Complaint Center.

https://wallstreetonparade.com/2022/06/crypto-victims-cries-for-help-are-piling-up-at-a-federal-complaint-center/

[shajandr]

Cathie Wood scoops up $50 million of Shopify on dip, sells chunk of Coinbase after SEC probe news

https://www.cnbc.com/2022/07/27/cathie-wood-scoops-up-50-million-of-shopify-on-dip-sells-chunk-of-coinbase-after-sec-probe-news.html

[Talc Moan]

$368 to $58 bruuuuuutal!

[shajandr]

And, in addition to the SEC investigation of COIN itself, this hits the newswire too:

Press Release
SEC Charges Former Coinbase Manager, Two Others in Crypto Asset Insider Trading Action

FOR IMMEDIATE RELEASE
2022-127

Washington D.C., July 26, 2022 —

The Securities and Exchange Commission today announced insider trading charges against a former Coinbase product manager, his brother, and his friend for perpetrating a scheme to trade ahead of multiple announcements regarding certain crypto assets that would be made available for trading on the Coinbase platform.

The SEC’s complaint alleges that, while employed at Coinbase, Ishan Wahi helped to coordinate the platform’s public listing announcements that included what crypto assets or tokens would be made available for trading. According to the SEC’s complaint, Coinbase treated such information as confidential and warned its employees not to trade on the basis of, or tip others with, that information. However, from at least June 2021 to April 2022, in breach of his duties, Ishan repeatedly tipped the timing and content of upcoming listing announcements to his brother, Nikhil Wahi, and his friend, Sameer Ramani. Ahead of those announcements, which usually resulted in an increase in the assets’ prices, Nikhil Wahi and Ramani allegedly purchased at least 25 crypto assets, at least nine of which were securities, and then typically sold them shortly after the announcements for a profit. The long-running insider trading scheme generated illicit profits totaling more than $1.1 million.

"We are not concerned with labels, but rather the economic realities of an offering," said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement. "In this case, those realities affirm that a number of the crypto assets at issue were securities, and, as alleged, the defendants engaged in typical insider trading ahead of their listing on Coinbase. Rest assured, we’ll continue to ensure a level playing field for investors, regardless of the label placed on the securities involved."

“In nearly a year, the defendants collectively earned over $1.1 million in illegal profits by engaging in an alleged insider trading scheme that repeatedly used material, nonpublic information to trade ahead of Coinbase listing announcements,” said Carolyn M. Welshhans, Acting Chief of the Enforcement Division’s Crypto Assets and Cyber Unit. “As today’s case demonstrates, whether in equities, options, crypto assets, or other securities, we will vindicate our mission by identifying and combatting insider trading in securities wherever we see it.”

The SEC’s complaint, filed in federal district court in Seattle, Washington, charges Ishan Wahi, Nikhil Wahi, and Ramani with violating the antifraud provisions of the securities laws and seeks permanent injunctive relief, disgorgement with prejudgment interest, and civil penalties. In a parallel action, the U.S. Attorney’s Office for the Southern District of New York today announced criminal charges against all three individuals.

The SEC’s investigation, which is ongoing, was conducted by Michael Brennan, Jennie B. Krasner, and Gregory Padgett, with assistance from Patrick McCluskey and Donald Battle. The case was supervised by Paul Kim, Joseph Sansone, Chief of the Market Abuse Unit, and Ms. Welshhans. The litigation will be led by Daniel Maher and Peter Lallas and supervised by Olivia Choe. The SEC appreciates the assistance of the U.S. Attorney’s Office for the Southern District of New York and the FBI.

https://www.sec.gov/news/press-release/2022-127

COIN is a nest of crooks and financial creepers.