Coinbase May volumes are already +45% above their prior monthly record set in Feb 2021. We still have a full week until the month's over.pic.twitter.com/4qkN9PYzNc
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But look at the stock. Retail investors who bought the direct listing got screwed.
Agreed, initial valuations were too high. I think they're more reasonable today but can certainly drop further. I have a small position.
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Even if valuation has come down, they’ll get squeezed on pricing as time goes by. They rip off retail customers with excessive trading fees (& yeah yeah I know they offer the wallet and more coins now). RH et al will eventually catch up and push prices down significantly
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It’s a high margin business and even if margins go down I think they will continue to be the leader in the space for US clients.
End of conversation
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