COINbase (Chanos is winning)

The_Krakenite

The_Krakenite

For those who were laughing at Chanos for shorting COIN. Looks like he's going to collect so far. COIN down to all-time lows now.

If crypto crashes again (possible as Merge is delayed, etc), this will be much worse for COIN.

Screen Shot 2022-04-18 at 9.48.40 AM.png
 
Its a strange correlation I didn't exactly expect.

Like COIN is correlated to price to cryptos, but there is a good argument to be made it shouldn't be. All that matters for COIN is if people trade and they collect their exorbitant fee, not whether bitcoin/crypto goes up or down.

Chanos winning now but this seems to be a risky trade. Even if you hate cryptos, hard to argue that COIN isnt a money machine.
 
GlobalMacro90 said:
Its a strange correlation I didn't exactly expect.

Like COIN is correlated to price to cryptos, but there is a good argument to be made it shouldn't be. All that matters for COIN is if people trade and they collect their exorbitant fee, not whether bitcoin/crypto goes up or down.

Chanos winning now but this seems to be a risky trade. Even if you hate cryptos, hard to argue that COIN isnt a money machine.
More...
Apparently people trade less the market if it's in a bear trend.
 
gkishot said:
Apparently people trade less the market if it's in a bear trend.
More...

Is that true tho? I thought amount of trading was loosely correlated to general market volatility. People would still need to do transactrions (most getting stopped out) if the market is going down
 
bubbles suck in a lot more traders/gamblers, makes sense tho. you can double triple your money on a trade. shorting you can double at best if you ride it to zero.
 
Seems the millennials are very quite suddenly. You don't hear anymore how utterly stupid Chanos is.

COIN only had half the volume they wanted, so missed expectations. Of course, if Terra didn't implode, crypto wouldn't have dipped as much, and COIN wouldn't sell off so much.

Now I'm glad I bought back my short COIN put earlier.
 
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