Podcast Episode Details

Unconfirmed: What $1.8 Billion in Q1 Revenue Means for Coinbase’s Direct Listing

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Episode 227

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Larry Cermak, director of research at The Block, discusses the upcoming Coinbase direct listing in light of the exchange’s recently released Q1 revenue hitting an impressive $1.8 billion. In this episode, Larry talks about:

• significant takeaways from Coinbase’s Q1 results (1:04)
• how Coinbase was able to increase its non-transaction revenue in Q1 and why he thinks the exchange gets away with charging higher fees than its competitors (4:14)
• why retail consumers are investing in crypto at such a high clip (8:36)
• how Coinbase compares to its competition -- and why competition will drive transaction fees down (11:23)
• whether it matters that Coinbase has so little Bitcoin on its balance sheet (14:52)
• what he still wants to know about Coinbase after its S-1 filing and Q1 results 15:36)
• products and services that Coinbase should acquire to round out its crypto offering (17:10)
• his expectations for Coinbase’s stock performance (17:50)
• why investors may not be interested in NFTs (19:37)
• how the crypto markets will perform in 2021 and how that might affect the COIN price (20:43)
• Crypto New Recap (22:40) 

 

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Episode links:

 

Larry Cermak

https://twitter.com/lawmaster

 

Coinbase Q1 Results

• Coinbase Details
• • https://investor.coinbase.com/news/news-details/2021/Coinbase-Announces-First-Quarter-2021-Estimated-Results-and-Full-Year-2021-Outlook/default.aspx 
• Larry Cermak Analysis
• • https://twitter.com/lawmaster/status/1379527265021743110 
• The Block
• • https://www.theblockcrypto.com/genesis/100749/final-notes-ahead-of-the-coinbase-direct-listing?utm_source=research&utm_medium=email&utm_campaign=2021-04-08
• John Street Capital
• • https://twitter.com/JohnStCapital/status/1379526362692788227

 

Direct Listing Information

• https://www.cnbc.com/2021/04/01/coinbase-direct-listing-set-for-april-14-after-sec-approval.html
• https://www.coindesk.com/coinbase-sec-form-s-1

 

Related Podcasts

• Gil Luria
• • https://unchainedpodcast.com/is-coinbase-stock-a-good-buy-this-analyst-says-yes/
• Jeff Roberts
• • Published on 4 years, 8 months ago