After its financial report, Coinbase experienced a sharp decline. Although two investments, a strategic investment of $1.5 billion with pre tax returns (including unrealized returns on Circle) and a cryptocurrency portfolio of $362 million with pre tax returns, supported its net profit, trading revenue and subscription service revenue both decreased. Coinbase's market share in spot trading continued to decline. I feel like this financial report is a bit like Robin Wood and Coinbase's Pinduoduo/Alibaba moment.