Goldman Sachs was one of the Wall Street banks that advised Coinbase on its direct listing in April 2021. --- However, Goldman maintaines its sell rating on Coinbase given the “lack of visibility around organic growth” and continuing uncertainty about the impact of regulation.

[Gunnar Larson]

Goldman Sachs was one of the Wall Street banks that advised Coinbase on its
direct listing in April 2021. As of Monday's close, the company was valued
at about $12.4 billion. Coinbase has 20 buy ratings, 6 holds and 5 sell
recommendations, according to data compiled by Bloomberg.

https://www.bloomberg.com/news/articles/2022-06-27/coinbase-slumps-as-goldman-cuts-to-sell-after-75-drop-this-year

----

Meanwhile, Coindesk says:

Goldman Sachs was also cautious, reminding of the “highly uncertain”
regulatory outlook.

“We see risk that limited bandwidth in Congress increases the likelihood
that regulatory developments will largely be driven by regulators, rather
than policymakers,” the Goldman team wrote. “Thus, we see limited near-term
catalysts for increased retail engagement, adoption in the U.S.”

Goldman maintained its sell rating on shares given the “lack of visibility
around organic growth” and continuing uncertainty about the impact of
regulation.

https://www.coindesk.com/business/2023/05/05/coinbase-jumps-16-post-earnings-analysts-praise-results-but-worry-about-regulatory-uncertainty/

----

Coinbase just paid $100 million in fees because of "significant failures in
its compliance program" that violated New York state laws.

https://www.npr.org/2023/01/04/1146915338/coinbase-settlement-cryptocurrency-exchange-new-york-dfs

----

However, Coinbase says they are America's top rated Crypto brand:

"Recent Data Shows Coinbase is the Most Trusted Name in Crypto"

Tl;dr: Coinbase has been committed to providing users with a trusted,
secure platform for accessing crypto since day one, and recent survey data
confirms that commitment is paying off. Findings from surveys conducted by
YouGov and Qualtrics in Q4'22 and Q1'23, confirm that people around the
world view Coinbase and its premium product offerings as the most trusted
crypto platform."

https://www.coinbase.com/blog/recent-data-shows-coinbase-is-the-most-trusted-name-in-crypto
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