> How can Coinbase be valued at nearly that of large banks that process orders of magnitude more transactions and can actually earn money on balances? NYSE and

> How can Coinbase be valued at nearly that of large banks that process orders of magnitude more transactions and can actually earn money on balances? NYSE and NASDAQ are surely not valued at anywhere close to $100b. Does that mean Coinbase can acquire them? Bubbles are bizarre. I wonder how many folks here remember that AOL (yes, the dial-up folks who put CDs in magazines) acquired Time-Warner in 2000, thanks to the internet bubble. They even subordinated their brand to AOL: https://www.nytimes.com/2018/06/15/business/dealbook/aol-time-warner.html https://www.nytimes.com/2018/06/15/business/dealbook/aol-tim... By 2009, TimeWarner spun off AOL for a fraction of the original deal size.