wNews: Unpacking Crypto’s “Facebook Moment”

Key Takeaways

  • The crypto industry is finally getting it’s “Facebook moment” as Coinbase has formally filed its public IPO announcement.
  • Markets were awash this week, with Bitcoin dropping below $45,000 and Ethereum falling even harder.
  • Trading options can be hugely lucrative, but many are still unsure about how to enter the multi-trillion dollar market.

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This week’s edition of wNews unpacks what Coinbase’s massive listing deal means for the industry.

After first announcing its listing plans last year, the San Francisco-based company finally released its public filing. Media and crypto enthusiasts alike scoured the document for a glimpse into one of crypto’s most successful businesses. 

The findings were nothing short of bullish. For those active in tech in the early 2010s, there are many similarities with crypto’s trajectory and so-called FAANG stocks

As for markets, Bitcoin and Ethereum underwent corrections despite the Coinbase news. The CB10 index confirms much of the same, with ETH dropping the most this month. 

Much of this red market action was related to various options contracts expiring and a shakeout of overleveraged bulls. 

But how do traders actually use options to make money? This week’s crypto to-do list is all things calls, puts, and strike price as Crypto Briefing does a deep dive into decentralized options trading. 

All that and more, below.

Coinbase Goes Public: Crypto’s “Facebook Moment”

First announced in July 2020, the Coinbase S-1 document was made public this week. The document reveals much about the growing industry as well as one of its most successful companies. 

Before a company can be listed on a national stock exchange in the United States, it must notify the Securities and Exchange Commission (SEC) via an S-1 filing. The document includes all the necessary information about the company, such as the firm’s business model, how it would spend the fresh capital raised, and so on. 

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