What's happening
- COIN ripped 21.3% over the past week ahead of the May 7 earnings print, with consensus at $0.28 EPS on $1.55B revenue following last quarter's brutal $2.49 miss.
- Charles Schwab launched direct crypto trading to 39 million brokerage accounts, opening a distribution channel that directly targets Coinbase's retail fee base.
- Coinbase announced a tokenized-equities partnership with Bybit and launched crypto-backed loans in the UK, extending revenue beyond spot trading fees into custody monetization and lending.
- A new lawsuit alleges Coinbase's KYC failures let minors funnel funds to offshore gambling sites, adding a fresh compliance overhang on top of existing regulatory scrutiny.
- Insider activity shows one Form 4 sale of roughly 10,000 shares by Alesia Haas in the last 30 days with zero insider buys.