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Anyone else care to comment on the S-1 itself? Revenues doubling, and a rare example of a tech company that is actually profitable before IPO (to the tune of $320M net profit on $1.1B in revenue). Seems like a great business to me! Given current market conditions, I wouldn't be surprised to see a market cap on first day of trading of $50B or more

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Some sources say Coinbase has already been trading at >$100B on private markets [1].

I find it interesting that about 2/3 of their trading volume (and thus revenue) is from institutions. Also that 44% of their trading volume is from "Other Crypto Assets", which implies that there must be a rather large bit of institutional activity in "Other Crypto Assets", and it's not just the stereotypical retail crypto investor trading in alt-coins.

[1]: https://www.axios.com/coinbase-valued-100-billion-direct-lis...

I wonder if they are buying Bitcoin with profits like is all the rage these days

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