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

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
https://unchainedpodcast.com/coinbases-s-1-the-number-that-may-make-the-exchange-nervous/

 
Link to the Crypto News Recap:
https://unchainedpodcast.com/happy-birthday-satoshi1/
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