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Joined November 2017
Coinbase Institutional retweeted
1/ There is some noise about a disclosure we made in our 10Q today about how we hold crypto assets. Tl;dr: Your funds are safe at Coinbase, just as they’ve always been.
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Coinbase Institutional retweeted
Coinbase Custody now supports deposits and withdrawals for $ERN, $TTT, $DPX, $SNT, $NCT, $SURE, $RFOX, $ALICE, and $AERGO. Details here → custody.coinbase.com/assets
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In our monthly outlook, "Hype cycles", we discuss the ongoing intersection of macro and crypto-specific narratives. Read more here → coinbase.com/institutional/r… 🧵…
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1/6 - Compared to the narratives we saw in 2H21, recent innovations in crypto have been more “bottoms up” than “top down” in nature, including the further development of L1s, web 3.0 infrastructure, centralized on-ramps, NFTs/metaverse technologies, and developer tooling.
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2/6 - Macroeconomic drivers like global GDP growth may continue eclipsing crypto-specific drivers as the key determinants of performance through the remainder of 2Q22.
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3/6 - Further, there are important narratives that we’re anticipating in 2H22 including Ethereum’s transition to proof-of-stake and the potential launch of new L2 tokens among others.
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4/6 - Additionally, the conversation surrounding crypto adoption could also heat up in earnest in 2H22, precipitated by the nature of high and sticky inflation worldwide, the growing risks of balance of payment crises and the broader theme of de-dollarization.
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5/6 - Overall, the plethora of intersecting macroeconomic factors is putting pressure on nearly all risk assets, although we could soon be entering a consolidation phase that would open up more opportunities for crypto in 2H22.
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Demystifying NFTS ... In the report linked below, we aim to go beyond the basics of NFTs and assess the current ecosystem, where things are headed, and how institutional investors can best approach the space. Some highlights... 🧵🧵🧵 (1/10) coinbase.com/institutional/r…
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As NFTs have entered mainstream consciousness over the past eighteen months, the cumulative sales volume processed across secondary marketplaces has risen roughly ten-fold to over US$60B. (2/10)
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NFT collections with greater liquidity may provide investors with a higher level of downside protection in times of broader market turbulence and/or fluctuating demand for NFTs, relative to collections with lower liquidity. (3/10)
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Conversely, attempting to invest in NFT collections which lack a robust track record of secondary sales volume and resultant liquidity often implies an investor’s willingness to move farther out along the risk curve. (4/10)
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Minting new projects (primary sales) could be considered the most risky end of that spectrum, while investing in more established “blue chip” NFT collections represents the most risk-averse end of that spectrum. (5/10)
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Although there are ~100,000 projects in existence, institutional investors with an average risk appetite could likely eliminate over 95.3% of the NFT collections in existence from consideration based on the historical strength of secondary sales volume alone. (6/10)
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The prominent narrative driving NFT purchase volumes over the past eighteen months has largely oscillated between the fundamental attributes of aesthetics, historical significance and proposed utility. (7/10)
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This segmentation is useful in constructing measurable criteria to evaluate a given NFT project. Different subcategories of NFTs tend to require different due diligence criteria. (8/10)
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In our view, alternative use cases for NFTs haven't received the same level of mainstream attention as PFPs. For the average retail investor, the strategic emphasis has been placed on identifying and minting the next 100x PFP project. (9/10)
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From an institutional investor’s perspective, however, investing in the infrastructure of the NFT space and ultimately implementing frameworks like we’ve presented in this report represent far more risk averse strategies. (10/10)
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Coinbase Institutional retweeted
Coinbase Custody now supports deposits and withdrawals for $BFC, $C98, $DODO, $MTL, $PROM and $REEF Details here → custody.coinbase.com/assets
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Coinbase Institutional retweeted
.@Coinbase aims to hire 6000 people this year and will soon launch an NFT marketplace. Hear about their future plans from: - @MaraSchmiedt, Coinbase Cloud - @BTejpaul, Coinbase Institutional - @sanchans, Coinbase Product Tickets: permissionlessevent.co/
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