Coinbase beats Santander, UBS and Deutsche Bank in terms of market cap
Coinbase beats Santander, UBS and Deutsche Bank in terms of market cap

Coinbase beats Santander, UBS and Deutsche Bank in terms of market cap

By Amelia Tomasicchio - 31 Jan 2021

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Coinbase’s market cap is higher than that of many banks around the world.

A few days ago Tom Robinson, CEO of Elliptic, a company that deals with blockchain analysis, shared an interesting graph on his LinkedIn profile.

It shows that Coinbase has a higher market capitalization (according to data from January 2021) than the Spanish bank Santander, the British Barclays, the Swiss Credit Suisse and the German Deutsche Bank.

Coinbase, a market cap of $70 billion

In fact, Coinbase has a market cap of $70 billion – almost as high as that of Goldman Sachs – which explains why it has become so attractive for them to launch an IPO

In December 2020, the US exchange filed paperwork with the SEC in order to launch its Initial Public Offering. It will be interesting to see how a crypto exchange launched only in 2012 can almost beat Goldman Sachs, a traditional bank founded in 1869.

Coinbase’s problems

Despite its attractive market cap, the platform is not lacking in bugs.

In fact, on practically all of its tweets – even the one about the IPO – one can read dozens of comments from users who complain about not being able to log in or having their accounts blocked.

In addition, Coinbase often goes down when the price of Bitcoin reaches record highs. It is for these reasons that the team has stated that they will be revamping the platform soon, in order to fix these technological glitches that can cause users to lose a lot of money in terms of not being able to sell and buy crypto at certain times.

Coinbase and FinCEN

Recently, Coinbase made it known that it had sent a letter to FinCEN asking them to put the crypto regulatory process on hold, at least temporarily, as everything could change under the administration of new President Joe Biden.

Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist, and also PR manager for the Italian market at Bitget. She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.

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