Exploring Coinbase's Treasury and Gap Accounting Implications

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Unconfirmed: Coinbase's S-1: The Number That May Make the Exchange Nervous - Ep.215

Unchained

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CHAPTER

Exploring Coinbase's Treasury and Gap Accounting Implications

This chapter explores Coinbase's treasury as detailed in its S-1 filing, focusing on its cryptocurrency holdings and the impact of gap accounting on asset reporting. It also examines the trend of corporate treasury investments in crypto and Coinbase's cautious approach to asset allocation.

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Episode notes

Jeff Roberts, executive editor at Decrypt and author of “King of Crypto: One Startup’s Quest to take Cryptocurrency Out of Silicon Valley and Onto Wall Street” talks about Coinbase going public. In this episode we discuss:

Jeff's biggest takeaways from Coinbase’s S-1 filing (0:56)
why institutions are choosing Coinbase (2:42)
how Coinbase going public feels like validation for bitcoiners (4:37)
issues Coinbase may face as a business that currently generates 96% of revenue through transaction fees (6:25)
Why Surojit Chatterjee has so much equity in Coinbase (11:29)
why Coinbase has only invested $130 million in crypto through its corporate treasury (12:26)
whether or not decentralized exchanges like Uniswap pose a threat to Coinbase, and whether unregulated centralized exchanges might squeeze them from the other end (15:41)
challenges Coinbase will face going forward (19:13)
how well the stock will do once it's listed (20:05)
Crypto News Recap (20:59)