Despite numerous wrong turns and silly mistakes, Coinbase is looking more and more as the lonely survivor positioned to dominate crypto trading in the West.
The company has lots of cash on hand in excess of corporate debt, almost no short-term corporate debt, customer assets backing all customer deposits, and as far as I can tell from a quick read of the latest quarterly report, a clean balance sheet with no red flags.
If the crypto market recovers from the latest crash, which is what has happened after all previous crashes in the past, Coinbase stands to win big.
The company has lots of cash on hand in excess of corporate debt, almost no short-term corporate debt, customer assets backing all customer deposits, and as far as I can tell from a quick read of the latest quarterly report, a clean balance sheet with no red flags.
If the crypto market recovers from the latest crash, which is what has happened after all previous crashes in the past, Coinbase stands to win big.