Quick Take
- Coinbase’s direct listing signifies a new chapter for the firm in which it will need to rely on its corporate development team to strategize how it will maintain and warrant its market share in a highly competitive market
- Q1′ 21 was Coinbase’s most active investment quarter ever with 22 investments, eclipsing its previous high in Q4′ 18
- An increase in M&A activity by the firm should be expected to acquire talent and introduce new service lines. Potential verticals include: NFTs/Gaming, International Exchanges, Information Services, and Credit & Lending