Coinbase is the San Francisco, California; the U.S. founded the biggest cryptocurrency exchange founded in 2012, allowing consumers, sellers, and traders to deal in digital currency.
The company works to forecast the periodic Bitcoin bubble and is the place for Americans to trade digital gold and other digital tokens.
It was founded by a former Airbnb engineer, Brian Armstrong, and he took the platform to a different level by making it one of the most influential digital trade-off finance companies to stand in front of the Wall Street.
About the company
A venture series of about thousand to five thousand employees backing the company by their hard work and their intelligence.
Coinbase allowed its user to trade in cryptocurrency and transfer via using the bank. During the pandemic, the company announced that it would work remotely, i.e. without headquarters.
Business model
Coinbase has a total of twenty-one acquisitions and one investment. The company earns $1,277 million in revenue and $322 million in profit.
Coinbase global has also announced the Initial public offering in January 2021 and is looking forward to launching a physical office in Hyderabad, India, and hiring engineers, software development, and customer support, operators.
The company’s market value is $65,393 million, as calculated in the fiscal year ended on Dec 31, 2020. The stock symbol of the company is NASDAQ: COIN.
Coinbase is facing a severe hammering as there is a drop in the trading market.
Facing a 13% drop on Friday and an 8% on Monday, Coinbase’s shares have lowered their prices. The prices are a quarter of the original value has fallen below the IPO price.
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Partnership with MasterCard
On Tuseday, the U.S. cryptocurrency giant has announced its partnership with the largest payment network MasterCard.
Aiming at simplifying the trading experience for the users by partnering up with the giant MasterCard, Coinbase is winning popularity among the users.
Having 2.5 million on the waitlist for the NFT platform, Coinbase challenges the other platforms with its popularity.
The other nine countries and their banks have launched their own digital currencies by copying the exact plan and idea.
The decentralized alternative to paper money is what is attracting the countries, and the medium is cryptocurrency. By choosing currencies like Bitcoin and Stablecoins, the intention is to bring a steady currency as a norm.
Coinbase Faced Some Controversy
Coinbase has faced some backlash for not taking a stand and engaging in social activism.
The company has launched its visa debit card program. There were some complaints regarding the company’s unfair treatment and biasness towards the employee’s gender and race.
In a times report, it was mentioned that women were paid eight per cent less than men, and black employees were paid seven per cent less than those in similar positions in the company.
Conclusion
Coinbase is winning the attention of the global users with their reach and company idea but standing up for what one believes in is the need of the hour.
To stand against social discrimination and prejudices is the running cause among the people and so the users of Coinbase.
People are inclined towards the group sharing similar beliefs, and in that case, Coinbase is standing apart from the users, but it is the service and the idea working for them.
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