▶Multiple sources confirm Coinbase is aggressively pursuing and securing partnerships with major traditional finance players, including powering integrations for BlackRock and five of the top 20 globally systemically important banks (GSIBs).Feb 2026

▶Coinbase has a distinct and controversial 'mission first' apolitical corporate culture, which was formally implemented in 2020-2021 and resulted in approximately 5% of employees accepting a severance package to leave the company.

▶The company's long-term strategy is to become an 'everything exchange' where all asset classes, including stocks and commodities, are tokenized and traded on a single platform, shifting focus from its retail brokerage to enterprise and institutional services.

▶Coinbase engaged in a high-stakes, expensive lawsuit against the U.S. SEC, which it ultimately won. The litigation cost between $50 million and $100 million in legal fees and was viewed as a contrarian but necessary action.Apr 2026

▶There are conflicting views on Coinbase's market leadership. While some claims position it as the leading institutional crypto provider and custodian of over 12% of all crypto, another notes it was rapidly surpassed in exchange volume by Binance in 2017 and now faces significant fee erosion from competitors like Robinhood.

▶The viability of Coinbase's business model is debated. Its strategy of working with regulators and its legal victory against the SEC suggest a sustainable path, but an expert points out that its core model of combining a broker-dealer and an exchange is not permitted under traditional U.S. securities laws, implying ongoing regulatory risk.

▶Sentiment on the company's stock valuation is divided. Its inclusion in the S&P 500 and its massive return for early investors like a16z are bullish signals. However, other analysts are bearish, predicting its valuation premium will decline due to competition from crypto ETFs and that its high fees are unsustainable.

▶The company's approach to centralization presents a conflict. Coinbase is developing self-custody wallets to address decentralization demands, yet its core business involves large, centralized holdings of assets, which one expert predicts are 'quite likely' to be seized by a government in a crisis.