Coinbase's $100 Billion Valuation 'Remains Ridiculous': Analyst

[Galaxy]

A report from New Constructs CEO David Trainer argues that Coinbase should be valued at 81% lower than its expected $100 billion valuation.

Despite the blowout Q1 financial results crypto exchange Coinbase released last week, its expect $100 billion valuation remains "ridiculous," according to a new report from stock research firm New Constructs first shared with Decrypt.

Coinbase recently announced Q1 profit between $730 million and $800 million on revenue of approximately $1.8 billion. Those figures dwarfed Coinbase’s performance for the entire previous year, adding to speculation that Coinbase may see a valuation of $100 billion or even higher once it goes public via direct listing on the Nasdaq on April 14.
Source: https://decrypt.co/65980/coinbases-100-billion-valuation-remains-ridiculous-report