Coinbase, often likened to the popular kid in school that everyone knows and trusts, stands out in the crypto community.
It’s the only cryptocurrency exchange platform listed on a significant global stock index, a testament to its transparency and reliability as a publicly traded company.
This listing mandates rigorous openness about their financial dealings.
Instead of relying on the typical “Proof of Reserves,” Coinbase has its financial books meticulously checked by top-tier accounting firms.
Coinbase has gone to great lengths to correct the wild-west image of the emerging crypto industry, by building trust and developing great products, and they’re doing great work.
Yet, even with such efforts, there’s an undercurrent of doubt held by some.
Are there undisclosed liabilities or off-the-books transactions?
In Coinbase’s original public stock offering document, they listed all kinds of risks that everyday crypto users never think about, including exposure to power outside of their control.