Coinbase CFO on crypto investors, dogecoin and growing competition

Coinbase Global released its first quarterly report as a public company on Thursday, showing a surge in business with growing public interest in investing in digital coins.

Despite fierce speculation about cryptocurrency and a multitude of offers, the asset class is volatile. After going public more than a month ago, Coinbase crypto exchange stocks are down 38% from Bitcoin’s high from Bitcoin’s high.

In an in-depth post-graduation interview with Jim Cramer on Mad Money, Alesia Haas, Coinbase’s Chief Financial Officer, spoke about a number of important topics related to digital currency.

Below is information from the questions and answers:

What do cryptocurrency investors buy?

“Usually bitcoin is the first coin people are interested in,” she said. “The other crypto assets on the platform are seeing an increasing volume of trading assets on our platform, so we think that as time goes on, more and more users are engaging with more and more crypto assets, and that’s what we’re looking at looking forward.”

Is Cryptocurrency Regulation Necessary?

“We have relied on regulation since our inception,” said Haas, emphasizing that the company believes regulation will bring confidence to the market. “We love working with regulators. We want to level the playing field and we welcome regulation. We believe it is a benefit to our business, not a burden.”

What does Elon Musk’s reversal in Bitcoin and the volatility in crypto say about the assets?

“I think crypto is here to stay. I think crypto is volatile, however, and you can see that we respond to a tweet, that we respond to one-off headlines,” Haas said. “This is a long-term investment. We believe we are just beginning to see the potential of crypto, but it could be a bumpy journey and we could see days going up and down like we have seen in the past. “

Investors should take Dogecoin Seriously?

“We leave that up to our users to decide. We are a platform. We want to offer all assets that meet our listing standards and we hope to be the place where you can trade anything you want to trade,” said Haas. “That’s not the case today. We’re slow. We need to add more assets. We’re making big investments to improve the speed of our asset additions, but the market is clearly speaking.”

Mastercard, Visa, PayPal, and other financial firms have taken crypto moves. Concerns about competition?

We welcome them. Three years ago when we were the only crypto company we were a little lonely out there, and now that we see most fintechs embracing crypto and big financial services companies, it just really means that Crypto has arrived. This is going mainstream. This is here to stay, but it’s evolving, “Haas said.

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