That Time We Shorted (COIN) CoinBase Global, Inc. - Live Technical Analysis, Trade Recap

Coinbase is a digital currency exchange platform that allows users to buy, sell, and store cryptocurrencies. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam and has since become one of the leading platforms in the cryptocurrency industry. In this article, we will take a look at the history of Coinbase and how it has become a major player in the world of digital currencies.

A Brief History of CoinBase Global, Inc.

Coinbase is a digital currency exchange platform that allows users to buy, sell, and store cryptocurrencies. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam and has since become one of the leading platforms in the cryptocurrency industry. In this article, we will take a look at the history of Coinbase and how it has become a major player in the world of digital currencies.

Coinbase was founded in San Francisco in 2012 by Brian Armstrong and Fred Ehrsam. The two met while working at Airbnb and quickly bonded over their shared interest in Bitcoin. At the time, Bitcoin was still a relatively new concept, and there were few reliable platforms for buying and selling the digital currency.

Consider Joining our FREE community Discord server at: https://discord.com/invite/pmpWcHs

Armstrong and Ehrsam saw an opportunity to create a more user-friendly and accessible platform for buying and selling Bitcoin. They founded Coinbase with the goal of making it easier for people to invest in Bitcoin and other cryptocurrencies.

Coinbase quickly gained popularity among cryptocurrency enthusiasts, and the company experienced rapid growth in its early years. In 2013, the company raised $600,000 in seed funding, which allowed it to expand its operations and develop new features for its platform.

Make sure to check out our store at: https://ethanwrenn.com/shop/

In the following years, Coinbase continued to grow and expand. In 2014, the company raised $25 million in a Series B funding round led by Andreessen Horowitz. This funding allowed Coinbase to expand its operations even further and establish itself as a major player in the cryptocurrency industry.

In 2015, Coinbase launched its first mobile app, which allowed users to buy and sell Bitcoin on the go. This app proved to be a major success and helped to solidify Coinbase’s position as one of the leading cryptocurrency platforms.

Read more articles like this by checking out our blog page: https://ethanwrenn.com/blog/

In recent years, Coinbase has continued to expand its operations and develop new features for its platform. In 2018, the company launched Coinbase Pro, a platform designed for professional traders and institutional investors. This platform offered advanced trading features and lower fees, making it more attractive to large investors.

In 2021, Coinbase went public, becoming the first major cryptocurrency exchange to do so. The company’s IPO was a major success, with Coinbase’s stock price soaring in the days following the public offering.

Coinbase has come a long way since its founding in 2012. The company has grown from a small startup to a major player in the cryptocurrency industry, and its platform has become a popular choice for buying, selling, and storing digital currencies. With its recent IPO and continued growth, Coinbase is poised to remain a major force in the world of cryptocurrency for years to come.

Wrenn Apparel is a fashion-forward brand that offers a wide range of high-quality clothing and accessories for men and women. With a focus on style, comfort, and sustainability, Wrenn Apparel offers everything from casual wear to office attire. Whether you’re looking for a stylish and comfortable outfit for the weekend or a professional look for the office, Wrenn Apparel has something for everyone. Shop now and experience the difference that Wrenn Apparel’s commitment to quality and style can make in your wardrobe.

How Crypto's Poor Performance Recently Has Impacted CoinBase Global, Inc.

Cryptocurrencies experienced a massive surge in value in 2020, with the price of Bitcoin reaching an all-time high of nearly $65,000 in April 2021. Many investors were drawn to the potential of massive returns on investment, and institutions began to invest heavily in cryptocurrencies. However, the market took a significant downturn in 2021 and 2022, leaving many investors with significant losses. This downturn had a profound effect on Coinbase, one of the largest cryptocurrency exchanges.

One of the primary reasons for the decline in the value of cryptocurrencies in 2021 was increased regulatory scrutiny. In China, authorities cracked down on cryptocurrency mining, resulting in a significant drop in the hash rate of Bitcoin. This crackdown had a significant impact on the market value of Bitcoin, as it resulted in a decrease in mining power and an increase in transaction fees.

In the United States, the Securities and Exchange Commission (SEC) also increased its regulatory oversight of the cryptocurrency market. In December 2021, the SEC filed a lawsuit against Ripple, a cryptocurrency company, alleging that it had conducted an unregistered securities offering. The lawsuit caused a significant drop in the value of Ripple’s cryptocurrency, XRP, and raised concerns among investors about the potential for increased regulatory oversight of the cryptocurrency market.

Another major factor contributing to the poor performance of cryptocurrencies in 2021 was increased scrutiny of the environmental impact of cryptocurrency mining. Bitcoin mining requires a significant amount of energy, and many investors and environmentalists raised concerns about the carbon footprint of the cryptocurrency industry.

Consider Joining our FREE community Discord server at: https://discord.com/invite/pmpWcHs

Tesla CEO Elon Musk also contributed to the decline in the value of cryptocurrencies in 2021 by announcing that his company would no longer accept Bitcoin as payment due to environmental concerns. This announcement caused a significant drop in the value of Bitcoin and other cryptocurrencies and raised concerns among investors about the future of the industry.

The decline in the value of cryptocurrencies had a direct impact on Coinbase. The company generates the majority of its revenue through trading fees, and the drop in trading volume resulted in a decline in revenue. In Q2 2021, Coinbase’s revenue dropped by over 40%, compared to the previous quarter.

The decline in revenue had a direct impact on Coinbase’s stock price. In May 2021, Coinbase went public, and its stock price reached an all-time high of $429.54. However, the decline in the value of cryptocurrencies and the drop in revenue resulted in a significant decline in Coinbase’s stock price. As of March 2023, Coinbase’s stock price is less than half of its all-time high.

Coinbase also faced increased competition in the cryptocurrency exchange market. As the market became more volatile, investors looked for alternatives to Coinbase, and new competitors emerged. This competition put pressure on Coinbase’s market share and further contributed to the decline in the company’s stock price.

The poor performance of cryptocurrencies in 2021 and 2022 had a significant impact on Coinbase. The decline in the market value of cryptocurrencies resulted in a drop in trading volume and revenue for the company. Additionally, increased regulatory scrutiny and environmental concerns put pressure on the future of the industry. While the future of cryptocurrencies is uncertain, it is clear that Coinbase will need to adapt to changing market conditions in order to remain a major player in the industry.

EthanWrenn is a YouTube channel that offers a unique blend of finance, investing, and gaming content. Hosted by Ethan, an expert in finance and investment, this channel provides valuable insights and tips on how to navigate the world of finance and investing. But that’s not all, EthanWrenn also showcases Ethan’s passion for gaming, as he shares his thoughts and experiences playing a variety of video games. With a mix of informative and entertaining content, EthanWrenn is the perfect channel for anyone looking to learn about finance and investing or for those who simply love video games. So, if you’re ready for an entertaining and educational journey, be sure to subscribe to EthanWrenn on YouTube today! Make sure to leave a like, comment and subscribe to stay up to date with the latest information available.

Make sure to check out our merch store at:
https://ethanwrenn.com/shop/

Consider joining our FREE community Discord server at:
https://discord.com/invite/pmpWcHs

Donate using Stream Labs and have your message appear on stream by clicking here:
https://streamlabs.com/ethanwrenn

Follow me across my various social media profiles!

Website: https://ethanwrenn.com/
Twitch: https://www.twitch.tv/ethanwrenn
YouTube: https://www.youtube.com/c/EthanWrenn
Reddit Community: https://www.reddit.com/r/EthanWrenn/
Personal Reddit: https://www.reddit.com/user/EthanWrenn
LinkedIn: https://www.linkedin.com/in/EthanWrenn
Ebay: https://www.ebay.com/usr/ethanwrenn
Twitter: https://twitter.com/ethanxwrenn
Instagram: https://instagram.com/ethanxwrenn/
TikTok: https://www.tiktok.com/@ethanxwrenn
Parler: https://parler.com/ethanwrenn
Dlive: https://dlive.tv/Intellx
Periscope: https://www.periscope.tv/EthanWrenn
SnapChat: https://www.snapchat.com/add/ethannn_619

Gaming Profiles

Steam Community: https://steamcommunity.com/id/ethanwrenn
League of Legends: https://na.op.gg/summoners/na/ethanwrenn
World of Warcraft: https://worldofwarcraft.com/en-us/character/us/sargeras/int%C3%AAllx
World of Warcraft Guild: https://worldofwarcraft.com/en-us/guild/us/sargeras/wrenn

Follow the official WrennLLC social media profiles!

Website: https://wrennllc.com/
Twitch: https://www.twitch.tv/WrennLLC
Twitter: https://twitter.com/WrennLLC
Instagram: https://www.instagram.com/WrennLLC/?hl=en
Reddit Community: https://www.reddit.com/r/WrennLLC/
Business Reddit: https://www.reddit.com/user/WrennLLC
SnapChat: https://www.snapchat.com/add/WrennLLC

Q: What brokerages do you recommend?
A: The following companies offer brokerage services.

Join Robinhood today using my link to receive a FREE stock to have in your portfolio:
https://join.robinhood.com/ethanw186/

Sign up for Webull and receive 4 FREE stocks, limited time!
https://act.webull.com/te/m3fVcVFQYG41/gje/inviteUs/

CashApp is offering new users who sign up with my link $5 FREE!
https://cash.app/app/DNBFZKD

Sign up to Coinbase to receive $10 in FREE Bitcoin!
https://www.coinbase.com/join/wrenn_k

That Time We Shorted (COIN) CoinBase Global, Inc. - Live Technical Analysis, Trade Recap

Coinbase is a digital currency exchange platform that allows users to buy, sell, and store cryptocurrencies. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam and has since become one of the leading platforms in the cryptocurrency industry. In this article, we will take a look at the history of Coinbase and how it has become a major player in the world of digital currencies.

Leave a Reply

This Post Has 3 Comments

  1. KIM

    The point of view of your article has taught me a lot, and I already know how to improve the paper on gate.oi, thank you.

  2. TROLL

    Hiya! I simply would like to give an enormous thumbs up for the nice information you’ve got here on this post. I will probably be coming again to your blog for extra soon.

  3. PopandVodka

    I think other web site proprietors should take this site as an model, very clean and magnificent user friendly style and design, let alone the content. You’re an expert in this topic!