Coinbase Global, Inc. (NASDAQ:COIN) Goldman Sachs Communacopia + Technology Conference September 10, 2024 1:10 PM ET Company Participants Brian Armstrong - Co-Founder & Chief Executive Officer Alesia Haas - Chief Financial Officer Conference Call Participants William Nance - Vice President, Goldman Sachs William Nance All right. So we'll get started. Next up, we're pleased to have Alesia and Brian from Coinbase. But first, I'm going to get, I'm going to read the safe harbor statement before we get going. So ...

Shares of Coinbase Global Inc (COIN) have lost 15.3% year to date against the industry's increase of 7.2% and the Zacks S&P 500 composite's increase of 13.2% in the said time frame. The performance of COIN largely depends on market volatility, which, in turn, impacts trading volume. The highly volatile crypto market experienced a downturn recently. While Bitcoin, the largest cryptocurrency, lost nearly 4%, Ethereum, the second-largest cryptocurrency, lost about 6% at Friday's close. The recent job report re ...

Stablecoins and blockchain infrastructure will be a big business for Coinbase. Coinbase (COIN -7.73%) is known as a cryptocurrency exchange, but its future could be defined by innovations on the blockchain. In this video, Travis Hoium shows how even Visa (V 0.27%) is taking the innovations Coinbase is bringing to market seriously. *Stock prices used were end-of-day prices of Sept. 5, 2024. The video was published on Sept. 6, 2024. ...

Market Overview - The cryptocurrency market experienced a significant selloff, with the total market cap down close to 30% from its 2024 peak of $2.67 trillion, now at $1.9 trillion [7] - Bitcoin fell to its lowest level since February, dropping 4% in the last 24 hours to around $54,000 [3] - Ether, the second-largest cryptocurrency, plunged 12% to around $2,200 [7] - Altcoins like Solana's SOL token, XRP, and Cardano's ADA all dropped more than 8% in the past week [7] Crypto Equities Performance - Crypto-related equities tracked by Schwab fell to their lowest level since February [1] - Schwab Asset Management's crypto-themed ETF (STCE), which includes MicroStrategy, Marathon Digital, Riot Blockchain, and Coinbase, fell 11% [8] - Coinbase plummeted 20% to its lowest since February, while MicroStrategy dropped 14% for the week [9] - Top bitcoin mining companies, including CleanSpark and Riot Platforms, ended the week with double-digit declines of 24% and 17%, respectively [10] Macroeconomic Factors - The tech-heavy Nasdaq slid 5.8% for the week, its worst performance since January 2022, reflecting broader economic concerns [2] - Weak manufacturing data and a cooldown in the labor market, with August payrolls falling short of expectations, contributed to the selloff [4][5] - The Crypto Fear & Greed Index is firmly in the "Extreme Fear" zone, indicating investor anxiety [3] Regulatory and Political Influences - Coinbase is engaged in a court battle with the SEC over allegations of unregistered securities sales [9] - The U.S. presidential debate and the potential for a second Trump presidency are seen as potential catalysts for the crypto industry, given Trump's pro-crypto stance and his vow to remove SEC Chair Gary Gensler [13] Trading Activity - Despite the price drops, trading activity increased in August, with total average daily volumes up 8% from the previous month [10] Federal Reserve and Monetary Policy - The Federal Reserve is expected to cut its benchmark rate for the first time in four years during its September meeting, with analysts anticipating a reduction of either 0.25% or 0.5% from the current rate of 5.25%-5.5% [11] - Looser monetary policy is typically favorable for risky assets like crypto, as lower borrowing costs tend to attract more investor inflows [11] - The August Consumer Price Index, to be released on Wednesday, is another key metric the Fed will consider ahead of its September meeting [12]

A proposed class action lawsuit brought against Coinbase by shareholders is reportedly moving forward. The cryptocurrency exchange's bid to have the suit dismissed was rejected Thursday (Sept. 5) by U.S. District Judge Brian Martinotti, Reuters reported Friday (Sept. 6). The shareholders allege that Coinbase downplayed the likelihood that it would be sued by the Securities and Exchange Commission (SEC), according to the report. Later, when the SEC sued the firm on June 6, 2023, accusing it of operating an u ...

Core Viewpoint - Despite bearish sentiment in the stock market and a weaker-than-expected labor market report, certain stocks have the potential to be included in the S&P 500 index next year [1][2]. Group 1: Potential S&P 500 Candidates - **Palantir (PLTR)**: A strong candidate with a market cap of $68 billion, meeting all criteria for S&P 500 inclusion, including a public float of over 50% and positive earnings in the last four quarters [3][4]. The stock price is currently $30.16, with a year-to-date increase of 81.91% [4]. - **Coinbase (COIN)**: Another potential candidate, Coinbase has a market cap of $42 billion and nearly $1.4 billion in net income over the past four quarters. The stock price is $159.70, reflecting a year-to-date gain of 1.80% [6][7]. - **The Trade Desk (TTD)**: This technology company has a market cap of $50 billion, with revenue of nearly $1.1 billion and net income of $117 million for the first half of 2024. The current stock price is $103.54, showing a year-to-date increase of 46.68% [9][10]. Group 2: Market Context - The S&P 500 Index is a market-capitalization-weighted index of 500 leading publicly traded companies in the U.S., with specific criteria beyond market cap for inclusion [2]. - The overall market sentiment remains cautious, with investors concerned about the U.S. economy, despite the potential for these stocks to join the S&P 500 [1]. Group 3: Conclusion - These three stocks meet most criteria for S&P 500 inclusion, but the final decision will depend on the S&P 500 commission, with a timeline extending to 2025 [11].

Coinbase Global, Inc. (NASDAQ:COIN) Citi's 2024 Global TMT Conference September 4, 2024 1:20 PM ET Company Participants Alesia Haas - Chief Financial Officer Conference Call Participants Pete Christiansen - Citigroup Pete Christiansen Good afternoon. Thanks for joining. My name is Pete Christiansen. I'm on Citi's equity research team covering a bunch of areas, including fintech and crypto. Thanks for joining us today. I'm thrilled to have Alesia Haas, Chief Financial Officer of Coinbase here to discuss what ...

Coinbase Global, Inc. (NASDAQ:COIN) Citi's 2024 Global TMT Conference September 4, 2024 1:20 PM ET Company Participants Alesia Haas - Chief Financial Officer Conference Call Participants Pete Christiansen - Citigroup Pete Christiansen Good afternoon. Thanks for joining. My name is Pete Christiansen. I'm on Citi's equity research team covering a bunch of areas, including fintech and crypto. Thanks for joining us today. I'm thrilled to have Alesia Haas, Chief Financial Officer of Coinbase here to discuss what ...

Group 1: Palantir Technologies - Palantir Technologies is a strong candidate for inclusion in the S&P 500 by 2025, with a current market cap of approximately $68 billion and a stock price that has increased by 80% this year [2][3] - The company meets all criteria for S&P 500 inclusion, including being a U.S. company, having a market cap above $18 billion, high stock liquidity, and a public float exceeding 50% [3][4] - Despite reporting positive earnings in the last six quarters, Palantir's profits have been minimal, which may be delaying its inclusion in the index [5][6] Group 2: The Trade Desk - The Trade Desk is positioned as a potential new advertising stock in the S&P 500, leveraging its demand-side platform for managing digital ad campaigns [7][8] - The company has a market cap of $50 billion and reported revenue of just under $1.1 billion for the first half of 2024, reflecting a 27% increase year-over-year [9][10] - The Trade Desk's net income for the first six months of 2024 was $117 million, a significant increase of 176% compared to the previous year, indicating strong financial recovery [10] Group 3: Coinbase - Coinbase is a publicly traded U.S. company with a market cap of $42 billion, making it a suitable candidate for S&P 500 inclusion [13][14] - The company has demonstrated profitability with nearly $1.4 billion in net income over the past four quarters and holds over $8 billion in cash on its balance sheet [14][15] - Inclusion in the S&P 500 would provide exposure to the growing cryptocurrency market, reflecting a forward-thinking investment strategy [16]

Coinbase continues to be lifted by the state of the crypto market. The highest-flying digital assets certainly receive a lot of attention from investors. For those who aren't ready to fully jump in, owning a business like Coinbase (COIN -2.61%) might be an idea worth considering. But even this top crypto enterprise has taken investors on a volatile journey. The company's shares skyrocketed 391% in 2023 before rising 19% so far this year (as of Aug. 26). However, they trade 42% below their peak price from th ...