Coinbase Global

COIN

Coinbase Global, Inc., branded Coinbase, is an American publicly traded company that operates a cryptocurrency exchange platform. Coinbase is a distributed company; all employees operate via remote work. It is the largest cryptocurrency exchange in the United States by trading volume. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam. In May 2020, Coinbase announced it would shut its San Francisco, California headquarters and change operations to remote-first, part of a wave of several major tech companies closing headquarters in San Francisco in the wake of the COVID-19 pandemic.Although cryptocurrencies can assure anonymous trade in principle, Coinbase trades are not anonymous: registered users are required to provide their taxpayer identification, and the transactions are reported to the IRS. Also, although Coinbase offers more than 250 different cryptocurrencies to the US customers in 2023, it does not trade Monero and other cryptocurrencies with enhanced anonymity protection, due to KYC requirements in accordance with anti-money laundering regulations.

Coinbase Global has been a target of short sellers for a while. The current short interest of 12.29% is slightly above the average of the last 12 months (9.54%).