The Bear Cave
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722 HN points
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15 Sep 22
Coinbase (NASDAQ: COIN — $17.7 billion) is the largest cryptocurrency platform in the U.S. and is on a mission to “increase economic freedom in the world.” The company lost over $1 billion last quarter and recently warned that “in the event of a bankruptcy customers could be treated as our general unsecured creditors.” Intense competition, a busted business model, and failing leadership tether the company to a downward trajectory. Let’s dig in.
