Why Coinbase Could Be the Netflix of Crypto

Group 1 - Netflix has successfully implemented a recurring revenue model that has led to a stock increase of 1,140% over the last decade [1][7] - Coinbase is aiming to adopt a similar subscription-based revenue strategy, focusing on predictable cash flows from its users [2][4] - Coinbase One service offers tiered benefits, which could generate consistent revenue independent of crypto trading fees, with $656 million in revenue reported for Q2 2025 [4] Group 2 - Coinbase's platform advantage includes serving as a custodian for new Bitcoin ETFs, enhancing its institutional relationships and fee streams [5] - The competitive landscape for Coinbase includes traditional financial institutions, which may complicate its path to becoming a leading platform in the crypto space [6][8] - For Coinbase to succeed, it must maintain its competitive edge and adapt to the evolving market, unlike Netflix's earlier, less competitive environment [8]