Coinbase CPO Surojit Chatterjee Explains Why He Believes the Exchange Will Win- Ep. 385
Unchained
Intro
This chapter explores the transformative impact of India's demonetization on the host's guest, who details his journey into cryptocurrency and decentralized finance. The conversation delves into the challenges of cash-reliant economies and how cryptocurrencies might provide innovative solutions.
Surojit Chatterjee, chief product officer at Coinbase, comes to talk about what products Coinbase is building, how it can thrive in such a competitive landscape, how to onboard billions of users into crypto, and much more.
Show highlights:
- how Surojit got into crypto and ended up at Coinbase
- what sets Coinbase apart from the competition
- how to bring billions of customers to crypto
- Surojit’s mental model of a bridge between the fiat world and the crypto world
- how Coinbase is integrating its main app with Web3
- whether crypto can become a utility rather than an investment asset
- how Coinbase is building a product in such a way that it attracts even “crypto-native” people
- what happened with Coinbase NFT Marketplace’s failure and whether the company will keep investing in NFTs
- whether Coinbase has lost crypto-embedded people among its employees
- how the partnership with BlackRock indicates how far crypto has come
- the amount of money that institutions could potentially pour into crypto
- how Coinbase will prevent itself from having the largest percentage of staked ETH
- how the company is monetizing the Coinbase wallet and what would happen to revenue if the trading volume were to move from the exchange to Coinbase wallet swaps
- why Coinbase is suffering a decline in trading volume
- whether Coinbase can compete with newer exchanges like FTX and Binance and why Surojit still thinks Coinbase will win
- why it is important to keep investing and building through this crypto winter
- Surojit’s take on the frontrunning of coins about to be listed on the platform
- why the Howey test (which determines whether something is a security) is outdated
- how Coinbase understands securities, and whether the firm thinks the tokens listed on the platform are securities
- how can Coinbase compete with decentralized exchanges like Uniswap
- why Surojit is worried about regulatory clarity and stablecoins
- how hacks and security give the crypto industry a bad reputation
- what Surojit’s dreams are for the industry
Thank you to our sponsors!
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
Ava Labs: https://www.avax.network/
Show Links
Surojit:
- Twitter: https://twitter.com/surojit
Coinbase Q2 2022 Earnings:
- Shareholder letter: https://s27.q4cdn.com/397450999/files/doc_financials/2022/q2/v2/Q2-2022-Shareholder-Letter.pdf
- Summary: https://twitter.com/fintechintern/status/1557130836574539776?s=20&t=R-oDUTEaev-F8bPonC2q5Q
- Earnings call: https://s27.q4cdn.com/397450999/files/doc_financials/2022/q2/Coinbase-Q2%2722-Earnings-Call-Transcript.pdf
NFT Marketplace:
- Coinbase NFT launch: https://decrypt.co/99561/coinbase-nft-marketplace-150-users-first-day-public
- NFT Market data: https://dune.com/Marcov/0x-NFT-Market
- Gamestop NFT stats: https://dune.com/dataisking420/gamestopnft-stats
- Gamestop’s performance against Coinbase: https://decrypt.co/105069/gamestop-ethereum-nft-sales-dwarf-coinbase-nft
Partnerships
- BlackRock:
- https://www.coindesk.com/business/2022/03/24/blackrocks-fink-says-ukraine-war-could-accelerate-crypto-adoption-report/
- https://blog.coinbase.com/coinbase-selected-by-blackrock-provide-aladdin-clients-access-to-crypto-trading-and-custody-via-b9e7144f313d
- https://www.coindesk.com/markets/2021/07/14/blackrock-ceo-larry-fink-seeing-very-little-demand-for-crypto-lately/
- Integration with META: https://www.coindesk.com/business/2022/08/04/meta-confirms-nft-rollout-across-100-countries-amid-coinbase-integration/
** For more episode links and details visit the Unchained website **
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