Chanos is shorting Coinbase.

The_Krakenite · Mar 18, 2022

Interesting, despite Coinbase has had horrible results since the IPO last year, seems Jim still believes there is plenty more downside left in it.

https://www.coindesk.com/business/2...eferral&utm_source=rss&utm_campaign=headlines

terr · Mar 18, 2022

If your reason to short Coinbase is purely technical - maybe. Otherwise, Coinbase as a company is basically a machine for printing money.

The_Krakenite · Mar 18, 2022

Just a few days ago I shorted puts around the 150 strike when I saw it tumble so low. I was ok with getting that kind of assignment, if it were to happen. Unlike the suckers who aped in all the way up to $430 a share. Are you kidding me or what?

52 Week Range
150.12 - 429.54

The_Krakenite · Mar 18, 2022

nooby_mcnoob · Mar 19, 2022

terr said:
If your reason to short Coinbase is purely technical - maybe. Otherwise, Coinbase as a company is basically a machine for printing money.

yeah it showed up on my scanner today. It seems to be priced as "not going to exist in 5 years"

Money Trust · Mar 19, 2022

Based on the charts, he couldn't have picked a worse time.

The_Krakenite · Mar 19, 2022

The future, is DEXes, which means old-school exchanges are basically a dead-end tech. Their fees are just too high and can't compete.

NoahA · Mar 19, 2022

The_Krakenite said:
The future, is DEXes, which means old-school exchanges are basically a dead-end tech. Their fees are just too high and can't compete.

What??? I think right now its the DEXes that have fees too high and the centralized exchanges that are competitive. (not coinbase of course... I mean something like FTX)

GotherL · Mar 19, 2022

Money Trust said:
Based on the charts, he couldn't have picked a worse time.

He is prolly manipulating a short squeeze.

No reputable fund manager could possibly be this dumb to go against such a strong trend in the market rn.

The_Krakenite · Mar 20, 2022

Seems to be the common theme lately... dumb-money keeps pouring more fuel on the fire, while smart-money prepares more shorts.

https://cointelegraph.com/news/bitcoin-beats-owning-coin-stock-by-20-since-coinbase-ipo

If bitcoin crashes hard again this year, I may just do some temp-trades on it.