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The literal collapse of an institution is a pretty A+ indicator of failure of leadership
by SQueeeeeL 4y ago
The literal collapse of an institution is a pretty A+ indicator of failure of leadership
- protonbob 4y agoDang is Coinbase collapsing?
- rco8786 4y agoCollapsing is a strong word, but their very tightly tied to whatever the crypto market is doing..which is not good at the moment.
- swyx 4y agoeh. BTC is up 40% year to date. FTX may have been the bottom of this cycle.
- rank0 4y agoYTD is like 25 days… what’s the TTM?
- swyx 4y agoparent comment said "not good at the moment" so just responding to "at the moment" its actually not as bad as the haters would imagine (e.g. its well above the 2020-era ceiling of $16k despite much tighter monetary policy and crypto institutions failing all over the place)
- rco8786 4y agoI meant like crypto as a whole. The 2020 shininess has worn off. NFTs are all dead. Web3 is being forgotten. The main news stories are about fraud and hacks.
- rco8786 4y agothe price of BTC != the crypto market
- carrja99 4y agoAre they? They’re tied to people putting money in and out of their platform, not to how much Bitcoin is worth.
- rco8786 4y agoYes, trading volume has fallen off a cliff in the last couple quarters.
- EGreg 4y agoWhat would dang know about it?
- Laaas 4y agoNo, he's saying dang _is_ the collapse of Coinbase. Clearly he has insider information.
- mauvehaus 4y agoI think GP accidentally some punctuation. It probably ought to be read as "Dang! Is Coinbase collapsing?" In another place where "dang" couldn't be mistaken for a person, "Dang, is Coinbase collapsing?" would also be acceptable. Remember folks: Punctuation is the difference between "Let's eat, Grandma" and "Let's eat Grandma". (And capitalization is the difference between "I helped my Uncle Jack off a horse" and something else entirely...)
- qclibre22 4y agobitcoin is up 25% in a month : https://finance.yahoo.com/quote/BTC-USD?p=BTC-USD https://finance.yahoo.com/quote/BTC-USD?p=BTC-USD
- webdoodle 4y agoI've been hit up by cryptobro's on LinkedIn more in that last month than at anytime previous. Clearly the ponzi scheme needs more victims to keep the pyramid intact...
- carrja99 4y agoLOL… typical HN tying a market being in a downturn to a company for trading securities “collapsing.” Probably the same type that associates tech debt with “company is on the decline” despite strong revenue.
- DennisP 4y agoFrom a quick glance at their financials, they lost about a billion dollars in the past year but still have $7 billion in working capital. I think they'll be fine.
- jnwatson 4y agoNot necessarily. If your market evaporates, you can't really blame it on product.
- Forgeties79 4y ago>If your market evaporates, you can't really blame it on product. Come again?
- jstx1 4y agoIt means that nobody could have prevented the crypto market collapse from the position of a Coinbase Chief Product Officer.
- Forgeties79 4y agoI mean...we've seen these massive boom and bust cycles over and over again. So yeah I do sort of expect the Chief Product Officer to have some clue how to handle them. It's not like it was out of the blue.
- _Algernon_ 4y agoHandling them is not the same as preventing them.
- Forgeties79 4y agoFair enough. Don't personally agree but seems I've kicked a hornet's nest here.
- Retric 4y agoHandling them means preventing the company from being harmed by them. To simplify, if you depend on market X then hedging your bet means also profiting if market X collapses.
- 4y ago