Coinbase CEO: The platform is still undervalued, and the crypto industry is directly disrupting Wall Street

Coinbase CEO Brian Armstrong responded on social media to the question "Why is Coinbase always misunderstood or underestimated by Wall Street," stating: "I do believe Coinbase is a misunderstood company. This is a classic 'innovator's dilemma.' On one hand, the smartest traditional financial institutions are fully embracing the crypto industry. Five globally systemically important banks (GSIB) have begun collaborating with Coinbase. Many large financial institutions are also hiring crypto talent. As regulations become clearer, we see that about 50% of large financial institutions are actively embracing this trend. On the other hand, the other half is still lagging behind and resistant. The most disruptive innovations in the world almost always follow a similar pattern. Whether it's Uber, Airbnb, autonomous driving, AI applications, or SpaceX's impact on NASA. The crypto industry is directly disrupting Wall Street, so it's not surprising that some Wall Street people misunderstand crypto and Coinbase. The smart ones will embrace it, while the laggards will be eliminated. Coinbase and the crypto industry have never been in a stronger position than now. For investors to achieve excess returns, they must be 'both early and right.' Coinbase is still undervalued, and this is not yet a consensus among traditional analysts. I suggest focusing on what the company commits to do and whether it delivers, rather than just looking at whether analysts' models predict 'beats' or 'misses.' Additionally, our GAAP net profit includes unrealized gains and losses on held crypto assets, so adjusted net profit should also be considered (even in a down market, we were still profitable last quarter, and there has been some misunderstanding about this in the media)."