📈 Whoa, Coinbase

Coinbase makes one heck of an entrance | Goldman's best-ever results | [TOGETHER WITH]( Hi {NAME}, here's what you need to know for April 15th in 3:07 minutes. 👋 Come find the official [Finimize Club](on Clubhouse, ladies and gents. We’ll get started at 6pm UK time / 1pm New York time, and be chatting all about Coinbase’s history-making stock market listing. [Join the club]( Today's big stories - Investors gave Coinbase a very warm welcome when it listed on the stock market - Stock market volatility is all set to kick off again, and there are three simple ways you can profit when it does – [Read Now]( - Goldman Sachs reported its best-ever quarterly results, and the investment bank has Reddit traders to thank New Money [New Money] What’s Going On Here? Coinbase – the world’s second-biggest crypto exchange – hit the US stock market for the first time on Wednesday, and investors were more than happy to usher in this new era of finance ([tweet this](). What Does This Mean? Coinbase has been credited with bringing cryptocurrencies into the mainstream, and now that they’re more popular than ever, it might’ve figured its shares would be in high demand too. That paved the way for a “[direct listing](” – in which investors rather than investment banks set the share price – and the biggest stock market debut of any crypto firm so far. Coinbase read the room right: investors initially priced its shares at $380, which is well ahead of the $250 “[reference price](” it went in with. That price puts the company’s value at around $100 billion – a neat step up from the [$8 billion]( it hit in 2018. Why Should I Care? For markets: Where bitcoin goes, Coinbase goes. Coinbase makes almost all its revenue from trading fees – and since the bulk of those trades are in bitcoin, Coinbase’s fortunes are closely linked to those of the OG cryptocurrency. But the reverse is also true: bitcoin’s price hit an all-time high on Wednesday after Coinbase’s stock market listing proved that – love it or hate it – crypto's in the big leagues now. Zooming out: There’s a lot of competition out there. Coinbase reckons investors were using its platform to hold 11% of all cryptocurrency assets by the end of last year, but it’ll have to work hard to defend that market share from its rivals. And we’re not just talking crypto exchanges like industry-leader Binance either: fee-free trading app Robinhood announced last month that it’s [working]( on its own cryptocurrency wallet, which might make Coinbase – whose high fees give it huge [profit margins]( – break out in a cold sweat. You might also like: [Coinbase could be the next big crypto play. Here’s why.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=New Money&utm_campaign=daily-global-15-04-2021&utm_source=email) 2. Analyst Take Stocks Are Quiet. Too Quiet. What’s Going On Here? Sure, a key measure of [US stock market volatility]( – which tracks how vigorously prices are moving up and down – just dropped to its [lowest level]( in a year. But don’t be fooled: this stock market calm is almost bound to [come to an end]( sooner rather than later. The US economic recovery, after all, still looks fragile, and the path out of the current health crisis is unlikely to be free from new setbacks. And that could [rattle markets](. One anonymous institutional investor even made [a major bet]( on exactly that eventuality just last week – and if you agree, you can too. That’s today’s Insight: [three ways to set yourself up to profit]( when volatility comes surging back. [Read or listen to the Insight here]( SPONSORED BY COINLIST Smart investors know it pays to be early in crypto With [crypto in a raging bull market](, the demand for compliant token sales has been unprecedented. [CoinList’s platform]( is purpose-built to give you [early access to the most cutting-edge crypto projects](. It lets you invest in, earn from, and trade on the best new tokens [before other exchanges](. The crypto community is taking notice, and it’s no wonder why. Just look at Solana (SOL), Flow (FLOW), and Filecoin (FIL). Each was sold on [CoinList]( before exploding in popularity: Solana went from [22 cents to $25](, Flow from [38 cents to $46](, and Filecoin from [$5 to $235](. On [CoinList](, you’ll never be late to the party. So sign up today, and [get $10 in bitcoin]( when you make a trade worth over $100. [Get $10 In Crypto]( Please support our sponsors Goldman Stonks [Goldman Stonks] What’s Going On Here? Goldman Sachs had Reddit traders to thank for its [best-ever]( quarterly results on Wednesday, so it mightn’t be long before the investment bank is posting its earnings entirely in gif. What Does This Mean? Goldman’s earnings didn’t just blow past expectations: they rocketed almost 500% versus a year earlier. That was down to a couple of things. First, the bank’s trading business, which had its best quarter in over a decade as Redditors pushed the sheer number of market trades to [record]( highs. And second, the bank’s underwriting business, which makes money by helping companies “go public” through [initial public offerings]( – a market that was red hot among tech firms and [special-purpose acquisition companies]( (SPACs) last quarter. That segment saw its revenue quadruple from the same time the year before – hitting its own record high. Why Should I Care? For markets: Big banks are starting to feel more relaxed. Both [JPMorgan]( and [Wells Fargo]( reported expectation-beating results on Wednesday too, and they had a little something extra working in their favor. Both firms’ earnings took a knock last year when they set aside cash in case pandemic-hit borrowers couldn’t repay their loans, but now that the US economy is starting to rebound, they felt confident enough to reverse some of those provisions last quarter. That added a tidy $1 billion and $5 billion to Wells Fargo’s and JPMorgan’s quarterly earnings respectively. Zooming in: Goldman’s following the money. Of the six biggest US banks, Goldman makes the biggest share of revenue from investment banking activities like trading and underwriting. That came in handy last quarter, sure, but it’s actually been holding the company back. Firms with big retail banking businesses, after all, have benefited from access to cheap money through customer deposits for the last decade – money they could then lend or invest to generate juicy profits. No wonder, then, that Goldman's working so hard to [expand]( its own recently launched retail banking business. You might also like: [How to tell if Goldman’s the best of the Big Six.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Goldman Stonks&utm_campaign=daily-global-15-04-2021&utm_source=email) 💬 Quote of the day “An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today.” – Laurence J. Peter (a Canadian educator and "hierarchiologist") [Tweet this]( 📚 What we're reading - 24/7 vet support, $3k emergency fund, multi-pet protection ([Pawp]()* - The rise of the shroom ([Vox]() - Remote working or bust ([Envoy]() - COVID bribery works a treat ([Inc.]() *This sponsored content helps us keep the newsletter free. 🌏 Finimize Events 🏡 Should you buy that house? 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So join Dixon Link Capital’s Faith Link on April 22nd for [The Pros and Cons Of REITs And Real Estate](, and find out how bricks and mortar could shore up your portfolio. 😎 [How To Become An Impact Investor](: 4pm UK time, April 15th 🔥 [The Three Most Important Trading Signals](: 6pm UK time, April 20th 👩‍🎨 [Are NFTs A Digital Bargain Or Bubble?](: 2pm UK time,April 21st 💡 [Investing In Small Stocks](: 6pm UK time, April 21st 🏡 [The Pros and Cons Of REITs And Real Estate](: 1pm UK time, April 22nd 📈 [How To Inflation-Proof Your Portfolio](: 6pm UK time, April 22nd 🚀 [Space: The Final Investment Frontier](: 6pm UK time, April 27th 💰 [Crowdfunding Club](: 1pm NYC time, April 28th 🛢 [The Energy Sector’s New Direction](: 4pm UK time, April 29th 🔪 [How To Cut Through The Spin](: 6pm UK time, April 29th 👋 [Live Q&A With CEO Max Rofagha](: 1.30pm UK time, April 30th ❤️ Share with a friend Your Referrals: 0 Thanks for reading {NAME}. 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