@Coinbase cash dropped by $1B in Q1. Q2 saw worse macro, markets & fundamentals yet they only burned ~$500m of cash. How? Financial engineering, by unifying USD/USDC before Q2 end, just in time to save USD. But does $USDC = USD? I don't think so. Reference https://boombustblog.com/compo... https://twitter.com/ReggieMidd...
@Coinbase 现金在第一季度下降了 $1B。第二季度宏观市场表现更差