Wow, this is really good news for Coinbase. And I mean that, because I'm utterly convinced Coinbase is going to 0. In the second quarter they had $800m revenue,

Wow, this is really good news for Coinbase. And I mean that, because I'm utterly convinced Coinbase is going to 0. In the second quarter they had $800m revenue, and made a loss of $1Bn. The only good news is they had $5.6Bn in cash. All their financial statements are like "We all know crypto is cyclical blah blah blah" as if the macro situation today is the same as the macro situation in 2018. The company is just way too fat compared to its competitors, it moves too slow, and it'll run out of money before crypto comes back - if it ever does. On the flip side though, Web3? Hey guys, come over here and use Coinbase and Google for your decentralized project. I don't understand who thinks "Web3" and decides "let's outsource key parts of our infrastructure to Google". All-in-all, a very strong signal for Coinbase, once it drops around the $5-10Bn market cap it makes a very interesting acquisition target for Google.