FTT Update: $COIN Goes Public
Hi everyone, Jordan here.
Today is a special day for fintech and an even bigger day for crypto enthusiasts. Coinbase has gone public, the first major crypto exchange to do so. It’s a day to celebrate the future and reflect on the past. This world has changed drastically since Coinbase was founded in 2012, accelerating since the pandemic began. According to a report out today from App Annie and Liftoff, more than 4.6B people downloaded a financial app in 2020. On top of that, legacy banks like Goldman Sachs are beginning to offer their private clients access to Bitcoin, a move that was unthinkable just a few years ago. Coinbase’s direct listing is a major testament to the fact that our society has embraced these new digital tools and that crypto has gone mainstream. So much so that I considered marking its debut on the Nasdaq by minting a NFT...
While we’re on the topic of new phenomena, my wife Julie and FTT Expert Michael Jenkins just put out a great deep dive on SPACs for our premium members. Here’s 1 of the 20 slides. If you want to read the entire report, subscribe here and we’ll send you all 20.
Special Coinbase Coverage:
If you’re anything like me, you were glued to both your computer and TV this morning waiting for the first shares of Coinbase to start trading in its highly anticipated direct listing on the Nasdaq.
This did not feel like any other IPO. Instead it felt like more of a movement. For instance, when I woke up, Dogecoin was trading up nearly 30%, Bitcoin was at a new all time high, and the only thing anyone was talking about on business television (or Twitter) was this direct listing. If you weren’t already an early investor, this felt like a chance to 🚀 🚀 After rising more than 50% to a high of $430, it closed at $328, valuing it at $85B.
In the aftermath of entering the public markets via a direct listing, which allowed Coinbase employees to sell their shares right away, it will be interesting to hear how many of them did so. Same for early investors. Some actually said they were buying even more shares of the company today. TBD if Roaring Kitty bought any.
One last thing. While Coinbase has gotten a lot of shit for its comments on diversity, I do have to give them props for one thing. Right before it went public, it gifted 100 shares to each of its 1700 employees. At today’s closing price, that’s a bonus of more than $30K. Not bad.
Today's Partner, Masterworks
The ultra wealthy love this asset class.
84% of ultra-high-net-worth individuals collect art according to Deloitte. And It makes sense—contemporary art prices outperformed the S&P 500 by 172% over the last 25 years. Masterworks lets you invest in multi-million dollar art, just like the pros. Bonus: the Brew Crew can skip the 17,500 person waitlist today.
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Two super job postings today:
Senior Content Strategist, Banking at Square. Square Capital is looking for a senior-level content strategist to join its team. You will have written at an agency or in-house for 8+ years. You know how to get people excited about Square Capital as a brand, and help them understand very simply and clearly how its products work. You know how to take complicated content and make it blissfully jargon free, warm, and approachable. You have experience working on brand, product, data-driven growth marketing, and go-to-market campaigns alike. You will be an integral part of the full-service Square Capital creative team, working with a range of disciplines including copy, design, web, research, and more. You’ll also partner with cross-functional teams, such as product, product marketing, and more. You thrive in a fast-paced, innovative environment and know how to take it all in stride — and maybe even with a sense of humor.
Marketing and Community Manager at Avenify: Avenify is building better financial and career services for nurses, starting with student financing. It makes it easy for nurses to pay for school and to get a job once they graduate. The team is looking for a Marketing and Community Manager to grow its community, define and execute on its acquisition strategy, and own the relationship with its Members. An ideal candidate is an exceptional individual with experience in building communities and consumer brands, from brand ambassadorships, to newsletters, to social campaigns. It’s an early-stage startup, which means you'll be the first marketer, and among the first employees. You'll work closely with the founders, but this will be a high-autonomy role. You'll have the opportunity to shape the culture, innovate on new products, and build a category-defining company.
Jordan Greenberg is the Head of Partnerships at Fintech Today, where he manages all advertising, fintech partnerships and corporate subscriptions. Previously he was a professional athlete, touring the country and managing the University Club's Squash Program in NYC. In his free time, he likes to tour his new home city of Austin with his wife and goldendoodle Tux.
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