☀️ Coinbase... did not have a good summer

Won’t someone please think of the… Tencent? | If Coinbase loves bitcoin, set it free | [TOGETHER WITH]( Hi {NAME}, here's what you need to know for November 11th in 3:10 minutes. 🇮🇳 India is an emerging market bursting with opportunities. So join India Avenue’s co-founder Mugunthan Siva for [How To Tap Into India’s Raw Potential]( on Monday, and find out how to turn this emerging market into a big cash withdrawal. [Get your free ticket]( Today's big stories - Chinese tech giant Tencent had a mixed quarter after the Chinese government poked its nose into its affairs - Our analyst has uncovered a way to buy $1 worth of bitcoin for 85 cents – [Read Now]( - Coinbase posted weaker-than-expected results on the back of a pretty bleak summer Time Out [Time Out] What’s Going On Here? Tencent [posted]( mixed results on Wednesday, as the Chinese government forces the emotionally distant tech giant to finally take on its fair share of child care. What Does This Mean? Like Whitney, China believes that children are our future. So in order to teach them well and let them lead the way, the country’s government [banned]( for-profit after-school tutoring last quarter, as well as introduced stricter limits on how long they can play video games – both of which, it argued, were having detrimental effects on kids’ wellbeing. Tencent knows how they feel: the company – which sells advertising space in its apps and online games – saw its ad revenue grow just 5% compared to the same time last year, as education companies collapsed and kids’ laser-like focus faded. And while its fintech and business services segment – which includes instant messaging app WeChat – posted strong growth, the damage was already done: Tencent’s overall revenue climbed by a weaker-than-expected 13% – the slowest quarterly growth since the company hit the stock market in 2004 ([tweet this](). Why Should I Care? For markets: China’s still on the agenda. Most Chinese tech giants’ stocks are listed in the US or Hong Kong, so investors – nervous about government crackdowns on foreign-listed domestic companies – have been steering well clear lately. They’ve not sworn off the country altogether, mind you: data out this week showed international investors were holding around $560 billion worth of Chinese-listed stocks at the end of last quarter – 30% more than the same time last year. Zooming out: There are bigger fish to fry. The Chinese government’s mood probably isn’t about to improve: new data has [shown]( that the prices manufacturers pay for materials accelerated by its fastest pace in 26 years last month, as the country continues to be rocked by power and commodity shortages. Those higher costs will probably be passed onto consumers, put a dent in consumer spending, and, ultimately, hamper the country’s economic growth. You might also like: [The 50 stocks Goldman thinks will profit from China’s crackdowns.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Time Out&utm_campaign=daily-global-11-11-2021&utm_source=email) Analyst Take How To Buy $1 Worth Of Bitcoin For 85¢ [How To Buy $1 Worth Of Bitcoin For 85¢]( [Photo of Stéphane Renevier] Stéphane Renevier, Analyst What’s Going On Here? Here’s some exciting news: crypto specialist Grayscale has [filed]( to convert its “Grayscale Bitcoin Trust” – or GBTC – into an exchange-traded fund. But here’s some more exciting news: if you buy in now and regulators give it the go-ahead, you could [make a swift 15% return]( on your investment. GBTC, after all, is currently trading at a discount to the price of bitcoin. That is to say, investors are essentially paying [85 cents to hold a dollar of bitcoin](. If you’re thinking that’s not a great deal, you’d be right. But if regulators give it the nod, that situation would reverse [pretty sharply](. So that’s today’s Insight: [how you can buy $1 worth of bitcoin for 85 cents](. [Read or listen to the Insight here]( SPONSORED BY PORTAL Introducing the peer-to-peer pioneer There are a host of DeFi projects for pretty much every niche these days. Every niche, that is, except [peer-to-peer exchange](. [Portal]( is the pioneer in the space: its DeFi platform lets you access a decentralized dark pool from your wallet, as well as [track]( multiple blockchain assets, liabilities, and financial services. And Portal’s on the search for backers of this [$100 billion opportunity](, which has already garnered $1 billion in whitelist interest. It’s easy to see why: Portal is made up of architects from [Casper Labs and Blockstream](, not to mention the inventor of the very first – i.e. pre-Lightning Network – layer 2 payment channel on bitcoin. The whitelist is only open for a few more days, so be quick: [sign up here](. [Register Your Interest]( Off Season [Off Season] What’s Going On Here? Coinbase [reported]( weaker-than-expected results late on Tuesday, after America’s biggest cryptocurrency exchange struggled with that all-too-familiar summertime slump. What Does This Mean? Coinbase’s performance – and here’s the sort of hot-button analysis you come to Finimize for – depends heavily on the performance of cryptocurrencies. And given that the prices of those digital rascals dipped last quarter, the company saw the average number of active monthly users and the value of their trades drop by around 16% and 29% respectively versus the quarter before. That in turn pushed the company’s overall revenue down by a worse-than-expected 39%. Coinbase did say it’s expecting things to pick up again this quarter, and the early signs look good: bitcoin [hit]( record highs earlier this week. But investors aren’t the forgiving type, and they sent its stock down 13%. Why Should I Care? The bigger picture: G2G, BTC. U OK, NFT? Bitcoin has always had a big influence on Coinbase’s revenue – arguably too big, which is why the company’s been trying to wean itself off its reliance on the OG crypto. It seems to be succeeding: 19% of all trades were on bitcoin last quarter, down from 32% the same time last year. That also means it’s expanding into new revenue sources, with the company announcing plans last month to launch a dedicated NFT platform. Zooming out: What goes up… After the update, Coinbase’s stock was sitting 20% below its price when it first listed on the stock market. Rivian, then, will be hoping not to follow in its footsteps: the US electric truck-maker made a barnstorming stock market [debut]( on Wednesday, raising nearly $12 billion in the sixth-biggest IPO ever on an American exchange. That valued the Amazon-backed company at $76 billion, which, on the one hand, makes sense: it’s already seen massive demand, with more than 150,000 preorders. On the other hand, it’s just nuts: the vehicle-maker hasn’t actually sold a single vehicle yet. You might also like: [Forget about bitcoin: Coinbase is the next big crypto play.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Off Season&utm_campaign=daily-global-11-11-2021&utm_source=email) 💬 Quote of the day “The past cannot be changed. The future is yet in your power.” – Mary Pickford (a Canadian-American film actress and producer) [Tweet this]( SPONSORED BY HOMETAP Take the next step toward financial freedom Living your everyday life gets expensive. Trust us, we get it. But here’s a novel way to free up some cash for those renovations you’ve been planning, or that business you’ve always wanted to get off the ground: [Hometap](. With Hometap, you’ll be able to access [up to $600,000]( of the equity you’ve built in your home in exchange for a share of its future value. It’s not a loan, so there are [no interest payments]( to stay on top of. And you get 10 years from when the deal’s agreed to pay Hometap back. And the best part? You can receive your cash in as [little as three weeks](. It takes less than two minutes to see if you qualify: [find out if Hometap is a fit today](. [Start Your New Project]( When you support our sponsors, you support us. Thanks for that. 🎯 On Our Radar - DeFi, but not as you know it. [Portal]( combines the security and transparency of the blockchain with the speed and affordability of going off-chain: [sign up to the whitelist here](.* - Greenwashing at its most crushing. You mean to say Instagram activism is [flawed](? - Destination Mercury. The Swift Planet could be our [next home](. - The world’s most expensive houseplants. Talk about [splashing the green](. - An out-of-this-world interview. Inside the Pentagon’s [UFO program](. When you support our sponsors, you support us. Thanks for that. 🌎 Finimize Live 🚢 Book your retirement cruise In the immortal worlds of six-year-old Vine star Katie Ryan: “I’m working my life away, I wish I could just stop and go on a cruise”. If only someone had told her about how trading crypto could help you retire early. She’d have come to our [How To Retire Early With Crypto]( event, that’s for sure. 👵 [How To Retire Early With Crypto](: 5pm UK Time, November 11th 🇮🇳 [How To Tap Into India’s Raw Potential](: 9am UK time, November 15th 💡 [Will Crypto Regulation Dent Your Portfolio?](: 12pm UK time, November 16th 🔥 [How The New “Commodity Supercycle” Impacts You](: 5pm UK time, November 17th 🚗 [How To Buy Into The EV Boom](: 1pm UK time, November 18th 💰 [Your First Step Into The Cryptoverse](: 5pm UK time, November 19th 🚀 [Finimize x Ledger Crypto Summit 2021](: December 2nd-3rd ❤️ Share with a friend Your Referrals: 0 Thanks for reading {NAME}. If you liked today's brief, we'd love for you to share it with a friend. If they sign up on your unique link, you’ll earn some sweet swag. Share your unique link: [ You stay classy, {NAME} 😉 We’d love to hear your thoughts. [Give feedback]( Want to advertise with us too? 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