Stay informed with our free disruptive technology investing newsletter, Nanalyze Weekly. Signup now at https://www.nanalyze.com/nanalyze-weekly/. This episode is pulled from a YouTube presentation. View the original presentation at https://youtu.be/hjZ2VaQQkvg.

Coinbase stock is down 80% since their IPO. Our COIN stock review looks at what problems the underlying business faces that weren't there during the heydays of hype. Relying on retail investor transactions for a majority of revenues means that Coinbase only thrives when there's an interest in cryptocurrencies from retail investors. Institutions participate on the platform but only count for a tiny fraction of total revenues. While transaction revenues plummeted in 2022, Coinbase was engaged with the SEC trying to address regulatory concerns. Then, the SEC just bailed and started down the path of enforcement - a Wells notice - resulting in Coinbase deciding to sue the SEC. When you're suing the government entity that will ultimately decide your fate, it's not a good look. Whether Coinbase is right or wrong doesn't matter because the SEC decides this outcome. We're avoiding $COIN stock until they can reduce reliance on retail investors and the whole SEC spat clears up.

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