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Rather than a failing, Coinbase's position at the center of such contradictions may explain much of its success. Coinbase's flourishing has owed much to its ability to tread a path between disparate worlds and ideas. Yes, co-founders Armstrong and Ehrsam were economic apostates — contrarian and bold enough to believe that a new financial system was possible — but in suits and starched shirts, they represented the most palatable of heretics.
Though the company succeeded in maintaining momentum during the crypto winter, the last twelve months have been particularly remarkable. As bitcoin prices have skyrocketed, so have Coinbase's numbers. Today, the company reports that it has 43 million wallets on the platform, up from 32 million the year prior. Institutional products picked up speed too. Coinbase's S-1 states the company grew clients from 1,000 to over 7,000 by the end of last year.
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