Coinbase Is Literally Junk (Tragic)

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In this video, I discuss the bond market pricing in a Coinbase bankruptcy.

Coinbase has a large amount of debt and negative free cash flow. When you combine this with the possibility that it loses access to the US customer market, there is a good chance that this stock is a zero.

Coinbase bonds are already indicating such an outcome, trading at junk yields.

I think it's a good idea to remove all fiat cash and Bitcoin from the platform-- unless you want to end up being included as one of the creditors, as happened with BlockFi and Celsius.

Not investment advice! Consult a financial advisor.

Coinbase bonds are trading as junk:
https://www.boerse-frankfurt.de/bond/usu19328aa89-coinbase-global-inc-3-375-21-28

Coinbase and Cardano Rekt (Breaking News):
https://www.youtube.com/watch?v=Ct8_fGYa2Hc&ab_channel=BitcoinUniversity

COIN financials:
https://finance.yahoo.com/quote/COIN/financials?p=COIN
https://finance.yahoo.com/quote/COIN/balance-sheet?p=COIN
https://finance.yahoo.com/quote/COIN/cash-flow?p=COIN

Brian Armstrong squirms:
https://twitter.com/JonDeritis/status/1667990344015949825

Coinbase listed its own VC tokens on the exchange:
https://twitter.com/Pledditor/status/1667678324582219778

Coinbase considers moving to the UAE:
https://www.reuters.com/technology/coinbase-considers-uae-potential-international-hub-2023-05-08/

The only problem is that all of their customers are in the US:
https://s27.q4cdn.com/397450999/files/doc_financials/2023/q1/e02f6e36-2945-4ee0-b947-e85b94ebbcd9.pdf

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#coinbase
#crypto

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