Coinbase CPO Surojit Chatterjee Explains Why He Believes the Exchange Will Win- Ep. 385

Unchained

Surojit Chatterjee, chief product officer at Coinbase, comes to talk about what products Coinbase is building, how it can thrive in such a competitive landscape, how to onboard billions of users into crypto, and much more.

Show highlights:

• how Surojit got into crypto and ended up at Coinbase
• what sets Coinbase apart from the competition
• how to bring billions of customers to crypto
• Surojit’s mental model of a bridge between the fiat world and the crypto world
• how Coinbase is integrating its main app with Web3
• whether crypto can become a utility rather than an investment asset
• how Coinbase is building a product in such a way that it attracts even “crypto-native” people
• what happened with Coinbase NFT Marketplace’s failure and whether the company will keep investing in NFTs
• whether Coinbase has lost crypto-embedded people among its employees
• how the partnership with BlackRock indicates how far crypto has come
• the amount of money that institutions could potentially pour into crypto
• how Coinbase will prevent itself from having the largest percentage of staked ETH
• how the company is monetizing the Coinbase wallet and what would happen to revenue if the trading volume were to move from the exchange to Coinbase wallet swaps
• why Coinbase is suffering a decline in trading volume
• whether Coinbase can compete with newer exchanges like FTX and Binance and why Surojit still thinks Coinbase will win
• why it is important to keep investing and building through this crypto winter
• Surojit’s take on the frontrunning of coins about to be listed on the platform
• why the Howey test (which determines whether something is a security) is outdated
• how Coinbase understands securities, and whether the firm thinks the tokens listed on the platform are securities
• how can Coinbase compete with decentralized exchanges like Uniswap
• why Surojit is worried about regulatory clarity and stablecoins
• how hacks and security give the crypto industry a bad reputation
• what Surojit’s dreams are for the industry

Thank you to our sponsors!

Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021

Ava Labs: https://www.avax.network/

Show Links

Surojit:

• Twitter: https://twitter.com/surojit

Coinbase Q2 2022 Earnings:

• Shareholder letter: https://s27.q4cdn.com/397450999/files/doc_financials/2022/q2/v2/Q2-2022-Shareholder-Letter.pdf
• Summary: https://twitter.com/fintechintern/status/1557130836574539776?s=20&t=R-oDUTEaev-F8bPonC2q5Q
• Earnings call: https://s27.q4cdn.com/397450999/files/doc_financials/2022/q2/Coinbase-Q2%2722-Earnings-Call-Transcript.pdf

NFT Marketplace:

• Coinbase NFT launch: https://decrypt.co/99561/coinbase-nft-marketplace-150-users-first-day-public
• NFT Market data: https://dune.com/Marcov/0x-NFT-Market
• Gamestop NFT stats: https://dune.com/dataisking420/gamestopnft-stats
• Gamestop’s performance against Coinbase: https://decrypt.co/105069/gamestop-ethereum-nft-sales-dwarf-coinbase-nft

Partnerships

• BlackRock:
• https://www.coindesk.com/business/2022/03/24/blackrocks-fink-says-ukraine-war-could-accelerate-crypto-adoption-report/
• https://blog.coinbase.com/coinbase-selected-by-blackrock-provide-aladdin-clients-access-to-crypto-trading-and-custody-via-b9e7144f313d
• https://www.coindesk.com/markets/2021/07/14/blackrock-ceo-larry-fink-seeing-very-little-demand-for-crypto-lately/
• Integration with META: https://www.coindesk.com/business/2022/08/04/meta-confirms-nft-rollout-across-100-countries-amid-coinbase-integration/

** For more episode links and details visit the Unchained website **

Learn more about your ad choices. Visit megaphone.fm/adchoices