The First Question on Coinbase’s Earnings Call Should Have Been a Huge Red Flag

Bloomberg2021-06-23

The coins continue to plunge today, with Bitcoin trading near its May 23 flash crash lows. Of course, it’s easy in retrospect to go back over the last few months and point out all of the seemingly ...

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Comments

Mm101
2021-06-23
Mm101
Yes
- Mm101:
  Like
GekChye
2021-06-23
GekChye
When the next bull leg set in, earning will also soar. Just be patient.
GekChye
2021-06-23
GekChye
?
FelTan
2021-06-23
FelTan
Gd.
KAHHUAT
2021-06-23
KAHHUAT
Wow
- KAHHUAT:
  Latest
Deonc
2021-06-23
Deonc
Great. Tq

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Too many to list.\nBut one that stands out was the first question on Coinbase’s earnings call on May 17, its first as a public company. Now bear in mind, this is a new kind of financial institution, at the forefront of a new asset class that people are just starting to wrap their heads around. So many interesting things to learn about and explore, as people think about its business model. And because Coinbase is a new kind of company, they did something unconventional, which was start with questions from regular shareholders:\n\nAnil Gupta:Last week, we announced that we will use SEI Technologies to enable all Coinbase shareholders the opportunity to submit and upvote questions for our management team. Thank you to everyone who participated in this process. We will start today's call by answering some of the most upvoted questions. We will also take live questions from Wall Street analysts, many of whom have done significant amounts of work to understand our business, which we are very appreciative of.So with that, let's dive into the first question. Jordi Y asks, when will users be able to trade DOGE? \n Brian Armstrong:All right. I'll take that one. Thank you for the question, Jordi. And asset addition is something that's near and dear to my heart. There's more and more assets being created in the crypto economy. I think it's going to be something, kind of, like apps in the App Store on the iPhone where there's eventually millions of these assets created over time and so we're putting a lot of work and thought into how do we accelerate our pace of asset addition and one of those is DOGE, as you mentioned, which has been getting a lot of attention recently. So, to answer your question directly, we plan to list DOGE in the next six to eight weeks. And then more broadly, we're going to be focused on how we can accelerate asset addition in the future.\n\nAt the time, of course, Doge was still going nuts. And Coinbase didn’t offer trading of it, so people were flocking to Robinhood, which did. So the most upvoted question from shareholders was “Wen Doge trading?”\nAnd of course, the CEO acknowledged the pressure to get it on the exchange, which the company then did. It’s also interesting that he talked about getting more aggressive with coin rollouts, since just last weekCoinbase added the Shib token(an Ethereum-based Dogecoin parody).\nOf course, numerous celebrities and exchanges got swept up in the Doge mania. It wasn’t just Elon Musk:\n\nMeanwhile, the actual Doge chart is truly one for the ages.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":123879392,"gmtCreate":1624418209116,"gmtModify":1703836075607,"author":{"id":"3565081661382277","authorId":"3565081661382277","name":"Mm101","avatar":"https://static.tigerbbs.com/01758aa877d9e5a9767d24de3a4e2ff1","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3565081661382277","authorIdStr":"3565081661382277"},"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/123879392","repostId":1192042428,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4968029,"gmtCreate":1624418221496,"gmtModify":1663229776350,"authorId":3565081661382277,"author":{"id":3565081661382277,"idStr":"3565081661382277","authorId":3565081661382277,"name":"Mm101","avatar":"https://static.tigerbbs.com/01758aa877d9e5a9767d24de3a4e2ff1","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":123879392,"type":1,"supId":0,"prevId":0,"content":"Like","text":"Like","html":"Like"}],"langContent":"EN"},{"id":123128539,"gmtCreate":1624412852921,"gmtModify":1703835891230,"author":{"id":"4087452600646910","authorId":"4087452600646910","name":"GekChye","avatar":"https://static.tigerbbs.com/6646ded2b888789c2c47bc6cbc3258c5","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4087452600646910","authorIdStr":"4087452600646910"},"htmlText":"When the next bull leg set in, earning will also soar. Just be patient.&nbsp;","listText":"When the next bull leg set in, earning will also soar. Just be patient.&nbsp;","text":"When the next bull leg set in, earning will also soar. Just be patient.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123128539","repostId":1192042428,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123161869,"gmtCreate":1624412474951,"gmtModify":1703835876370,"author":{"id":"4087452600646910","authorId":"4087452600646910","name":"GekChye","avatar":"https://static.tigerbbs.com/6646ded2b888789c2c47bc6cbc3258c5","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4087452600646910","authorIdStr":"4087452600646910"},"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123161869","repostId":1192042428,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123138555,"gmtCreate":1624411643977,"gmtModify":1703835835769,"author":{"id":"3586747243180905","authorId":"3586747243180905","name":"FelTan","avatar":"https://static.tigerbbs.com/76f0eb2b83e2e6505bb1a7248b8a5331","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3586747243180905","authorIdStr":"3586747243180905"},"htmlText":"Gd.&nbsp;","listText":"Gd.&nbsp;","text":"Gd.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123138555","repostId":1192042428,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123105774,"gmtCreate":1624411106398,"gmtModify":1703835810556,"author":{"id":"3581548947231431","authorId":"3581548947231431","name":"KAHHUAT","avatar":"https://static.tigerbbs.com/0142df644dd666ed7544324b3fa02898","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581548947231431","authorIdStr":"3581548947231431"},"htmlText":"Wow&nbsp;","listText":"Wow&nbsp;","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/123105774","repostId":1192042428,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4965937,"gmtCreate":1624411116431,"gmtModify":1663229767428,"authorId":3581548947231431,"author":{"id":3581548947231431,"idStr":"3581548947231431","authorId":3581548947231431,"name":"KAHHUAT","avatar":"https://static.tigerbbs.com/0142df644dd666ed7544324b3fa02898","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":123105774,"type":1,"supId":0,"prevId":0,"content":"<u>Latest</u>","text":"<u>Latest</u>","html":"<u>Latest</u>"}],"langContent":"EN"},{"id":123326972,"gmtCreate":1624409856396,"gmtModify":1703835750698,"author":{"id":"3569316529855154","authorId":"3569316529855154","name":"Deonc","avatar":"https://static.tigerbbs.com/d9aa45dd2eb58357f6477dcfb99d1415","vip":1,"crmLevel":3,"crmLevelSwitch":1,"idStr":"3569316529855154","authorIdStr":"3569316529855154"},"htmlText":"Great. Tq","listText":"Great. Tq","text":"Great. Tq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123326972","repostId":1192042428,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":150,"commentSize":23,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1192042428"}