The cryptocurrency exchange Coinbase identified competition from the decentralised finance (DeFi) sector and the possible identification of Satoshi Nakamoto as risk factors.
The company did not specify how the disclosure of the creator of Bitcoin’s identity would affect the business.
From a drug dealer to Elon Musk: how Satoshi Nakamoto managed to maintain anonymity after ten years of searching
Other risks cited by Coinbase include ‘negative sentiment toward Bitcoin or Ethereum’, as well as ‘unpredictable coverage on social media’ and ‘the crypto-asset trend’.
‘We compete with a growing number of decentralised and non-custodial platforms, and the business could suffer if we cannot effectively compete with them’, the filing states.
Coinbase also warns that the company’s revenue ‘depends significantly’ on the volatile prices of digital assets, potential platform security breaches, and current and potential litigation.
As a reminder, on February 25 the U.S. Securities and Exchange Commission approved Coinbase’s application for [simple_tooltip content=’процесс выхода компании на биржу, при котором продаются не новые акции, а уже существующие бумаги’]direct listing of shares[/simple_tooltip].
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