August 16, 2022

Coinbase CPO Surojit Chatterjee Explains Why He Believes the Exchange Will Win- Ep. 385

1 hour 10 minutes

Surojit Chatterjee, chief product officer at Coinbase, comes to talk about what products Coinbase is building, how it can thrive in such a competitive landscape, how to onboard billions of users into crypto, and much more.

Show highlights:

how Surojit got into crypto and ended up at Coinbase

what sets Coinbase apart from the competition

how to bring billions of customers to crypto

Surojit’s mental model of a bridge between the fiat world and the crypto world

how Coinbase is integrating its main app with Web3

whether crypto can become a utility rather than an investment asset

how Coinbase is building a product in such a way that it attracts even “crypto-native” people

what happened with Coinbase NFT Marketplace’s failure and whether the company will keep investing in NFTs

whether Coinbase has lost crypto-embedded people among its employees

how the partnership with BlackRock indicates how far crypto has come

the amount of money that institutions could potentially pour into crypto

how Coinbase will prevent itself from having the largest percentage of staked ETH

how the company is monetizing the Coinbase wallet and what would happen to revenue if the trading volume were to move from the exchange to Coinbase wallet swaps

why Coinbase is suffering a decline in trading volume

whether Coinbase can compete with newer exchanges like FTX and Binance and why Surojit still thinks Coinbase will win

why it is important to keep investing and building through this crypto winter

Surojit’s take on the frontrunning of coins about to be listed on the platform

why the Howey test (which determines whether something is a security) is outdated

how Coinbase understands securities, and whether the firm thinks the tokens listed on the platform are securities

how can Coinbase compete with decentralized exchanges like Uniswap

why Surojit is worried about regulatory clarity and stablecoins

how hacks and security give the crypto industry a bad reputation

what Surojit’s dreams are for the industry

Thank you to our sponsors!

Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021

Ava Labs: https://www.avax.network/

Show Links

Surojit:

Twitter: https://twitter.com/surojit

Coinbase Q2 2022 Earnings:

Shareholder letter: https://s27.q4cdn.com/397450999/files/doc_financials/2022/q2/v2/Q2-2022-Shareholder-Letter.pdf

Summary: https://twitter.com/fintechintern/status/1557130836574539776?s=20&t=R-oDUTEaev-F8bPonC2q5Q

Earnings call: https://s27.q4cdn.com/397450999/files/doc_financials/2022/q2/Coinbase-Q2%2722-Earnings-Call-Transcript.pdf

NFT Marketplace:

Coinbase NFT launch: https://decrypt.co/99561/coinbase-nft-marketplace-150-users-first-day-public

NFT Market data: https://dune.com/Marcov/0x-NFT-Market

Gamestop NFT stats: https://dune.com/dataisking420/gamestopnft-stats

Gamestop’s performance against Coinbase: https://decrypt.co/105069/gamestop-ethereum-nft-sales-dwarf-coinbase-nft

Partnerships

BlackRock:

https://www.coindesk.com/business/2022/03/24/blackrocks-fink-says-ukraine-war-could-accelerate-crypto-adoption-report/

https://blog.coinbase.com/coinbase-selected-by-blackrock-provide-aladdin-clients-access-to-crypto-trading-and-custody-via-b9e7144f313d

https://www.coindesk.com/markets/2021/07/14/blackrock-ceo-larry-fink-seeing-very-little-demand-for-crypto-lately/

Integration with META: https://www.coindesk.com/business/2022/08/04/meta-confirms-nft-rollout-across-100-countries-amid-coinbase-integration/

** For more episode links and details visit the Unchained website **

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By Laura Shin

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