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Coinbase

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In our quest to find "The Amazon of Crypto", Coinbase is our front-runner.

Having come up through the prestigious and super-competent YCombinator incubator, Coinbase has been on the forefront of innovation from the beginning.

They are now the incumbent exchange in the US and even among this regulatory press from the SEC, even departments of the United States government uses them for custody.

Coinbase is going to be the custodian on all eight spot ETFs when they finally launch.

In other words, Coinbase is already baked themselves into the financial system. They're part of the plumbing.

The trend in their business segments is positive, with increasingly more of their revenues coming from custodial, institutional and ancillary services (like yield farming).

The bear thesis that transaction fee compression will see them suffer at the hands of Citadel or Robin Hood are misplaced and no other entity in the space is in their league in terms of crypto competency.

We believe Coinbase will be the primary, anointed tollbooth between crypto-world and fiat-world - and we want to own a piece of that tollbooth.