“Nobody is investing in Coinbase based on its PE ratio.”

Yeah, it is a bubble levered to other bubbles, and a platform for trading worthless fake “coins” and “tokens” that are promoted with fraud and are illegal securities.

Maybe it will pop, maybe it won’t, but the puts are awfully cheap considering how often and hard crypto has crashed.

Ever after falling by about half since the IPO, COIN has a 50% higher market cap than the Nasdaq, the most successful stock exchange in the world.

I read COIN’s annual report and they have a line there about how they get paid by the scammers to give out free tokens as “rewards” for “achievements” that consist of watching promo videos for the scammers’ tokens. In other words, the same model of scammy timeshare operators, we pay you to watch our sales presentation.