Coinbase Global, Inc. (COIN) Management Presents at Wolfe Fintech Forum (Transcript)

Company and Industry Overview * Company: Coinbase Global, Inc. (NASDAQ:COIN) * Industry: Cryptocurrency and Blockchain Technology * Focus: Building tools and financial infrastructure for accessing, discovering, educating, and transacting in all crypto-based assets Key Points and Arguments * Three Pillar Strategy: * Crypto as an Investment: Trading, investing tools, and derivatives (spot trading currently) * Crypto as a Financial Service: Crypto payments and global transactions * Crypto as an App Platform: Combining content, payments, and identity within one tooling * 2021 Performance: * Revenue: Several 100 percentage point increase * Profitability: 11 times the profitability level to $3.6 billion * Institutional Clients: 50% increase from Q4 2020 * 2022 Outlook: * Revenue: Wide range due to macroeconomic uncertainty and market volatility * Focus: Growing diversity of product offerings and a stickier Monthly Transacting User (MTU) experience * Customer Acquisition: * Growth: Driven by organic growth and word of mouth * Investment: Increased sales and marketing spend in 2021 * Brand Differentiation: Ease of use and trust * Competitive Landscape: * Differentiation: Strong brand, ease of use, and trust * New Initiatives: Continuous innovation and expansion of product offerings * Product Offerings: * All Coins: Diversification of crypto assets beyond Bitcoin and Ethereum * Earn Initiative: Educating users about new assets and projects * Coinbase Ventures: Investing in early-stage companies in the crypto ecosystem * Coinbase NFT Platform: Launching in beta in 2022 with a focus on social experiences * Derivatives: Available to eligible clients with a focus on regulatory compliance * Investment and M&A: * Investment Plan: Ambitious plan to hire up to 6,000 people and invest in product engineering and design * M&A: Opportunistic approach to accelerate growth and roadmap * Stablecoins: * Role: Critical part of the crypto asset ecosystem for transfer, collateral, and global payments * Coinbase's Role: Offering multiple stablecoins and partnering with Circle for USDC * Regulation: * Approach: Embrace regulation to support growth and protect consumers * Policy: Active engagement with regulators and investment in policy teams * International Presence: Serving customers with legal products in different markets Additional Important Points * Market Expansion: Rapid expansion of the crypto market and increasing adoption * Risk Management: Prudent expense planning and consideration of downside scenarios * Focus on Scale: Scaling headcount, products, and services to meet growing demand