Coinbase turned its Q3 earnings report into a live AMA this time, with Ansem among the guests.
Yes, that Ansem—the one Arthur Hayes tagged on X the other day and asked, “I missed the move. What should I buy?” Also the Ansem who, in the space of 15 minutes on October 26, first posted a bullish chart, then said he was bullish on on-chain, and then said he was bearish on Bitcoin.
The announcement posted by Coinbase’s official account on October 28 got over 110,000 views. The event is at 5 p.m. Eastern on Thursday, with guests including Ansem, Jon Ma, ARK’s Lorenzo, and analyst Andrew Jeffrey.
I’m not saying KOLs shouldn’t appear on shows. The issue is that this is a public company’s earnings report. The things worth discussing are whether trading revenue is down, whether subscription and services revenue can land in the $500 million to $580 million range the market is watching, and why the stock is down more than 30% this year. Can an on-chain shitcoin trader really help explain any of that? What he can explain is sentiment.
So the logic is simple: if the numbers look good, you don’t need to bring in a top influencer to warm up the crowd; if you need to warm up the crowd, that suggests the numbers aren’t what you want people to remember. Retail investors who watch the livestream will probably remember some bullish sound bite from a guest, rather than which revenue stream is shrinking.
Put simply, this is a promotion. Coinbase wants trading volume on Base and in its app; Ansem wants exposure. Both sides win, and the people who watch and then rush in are the ones footing the bill.
If you really want to assess COIN, read the earnings report and call transcript yourself. Don’t rely on the livestream chat.
#Coinbase #Earnings
Yes, that Ansem—the one Arthur Hayes tagged on X the other day and asked, “I missed the move. What should I buy?” Also the Ansem who, in the space of 15 minutes on October 26, first posted a bullish chart, then said he was bullish on on-chain, and then said he was bearish on Bitcoin.
The announcement posted by Coinbase’s official account on October 28 got over 110,000 views. The event is at 5 p.m. Eastern on Thursday, with guests including Ansem, Jon Ma, ARK’s Lorenzo, and analyst Andrew Jeffrey.
I’m not saying KOLs shouldn’t appear on shows. The issue is that this is a public company’s earnings report. The things worth discussing are whether trading revenue is down, whether subscription and services revenue can land in the $500 million to $580 million range the market is watching, and why the stock is down more than 30% this year. Can an on-chain shitcoin trader really help explain any of that? What he can explain is sentiment.
So the logic is simple: if the numbers look good, you don’t need to bring in a top influencer to warm up the crowd; if you need to warm up the crowd, that suggests the numbers aren’t what you want people to remember. Retail investors who watch the livestream will probably remember some bullish sound bite from a guest, rather than which revenue stream is shrinking.
Put simply, this is a promotion. Coinbase wants trading volume on Base and in its app; Ansem wants exposure. Both sides win, and the people who watch and then rush in are the ones footing the bill.
If you really want to assess COIN, read the earnings report and call transcript yourself. Don’t rely on the livestream chat.
#Coinbase #Earnings