Publicly traded cryptocurrency exchange offering trading, custody, and blockchain financial services.Yahoo Finance ↗coinbase.com ↗
2 takes · first discussed Nov 16, 2024 · last Dec 7, 2024
Every call, plotted at the price the day they made it.
Friedberg argues that deregulation under Trump and Republicans will allow fintech and crypto companies like Coinbase to launch products more freely and generate revenue previously blocked by regulatory constraints, driving earnings acceleration.
Joe Lonsdale implies a more favorable regulatory environment under Paul Atkins at the SEC will benefit Coinbase, contrasting the prior Gensler era's adversarial approach where good actors like Coinbase were given no path forward.
Both hosts are bullish on Coinbase, with the shared thesis centered on a more favorable regulatory environment under the incoming Trump administration. Friedberg (medium conviction) argues that deregulation will unlock revenue streams previously blocked by regulatory constraints, accelerating Coinbase's earnings growth. Guest Joe Lonsdale (low conviction) echoes this view, specifically pointing to Paul Atkins replacing Gary Gensler at the SEC as a key catalyst, contrasting the prior adversarial era in which good actors like Coinbase were given no clear path forward. The two are aligned in direction but differ in specificity — Friedberg frames the benefit broadly across crypto and fintech, while Lonsdale focuses more narrowly on the SEC leadership change.
Friedberg argues that deregulation under Trump and Republicans will allow fintech and crypto companies like Coinbase to launch products more freely and generate revenue previously blocked by regulatory constraints, driving earnings acceleration.
The deregulatory nature on its own benefits markets that have been encumbered by regulatory oversight and regulatory challenges like crypto finance and fintech. So those types of businesses are clearly going to benefit or expected to”11:07
Joe Lonsdale implies a more favorable regulatory environment under Paul Atkins at the SEC will benefit Coinbase, contrasting the prior Gensler era's adversarial approach where good actors like Coinbase were given no path forward.
I think both Coinbase with Brian and the Winklevoss twins have put something out. They won't even hire anyone who worked with Gary on any of this stuff... Paul sees all that and there's no way he's going to allow that.”21:13