Just a thought: If crypto is an/the alternative to "the system" - here legacy financial markets, then why is Coinbase doing an IPO in the first place? Isn`t that in contrast to "true crypto spirit"? Why didn`t they come up with Coinbase Coin/Token (as a means of distributing profits to investors) instead? Why give business to your opponent?
Also, at first glance, this does not seem to be particularly supportive of the decoupling narrative.
, and bitcoin is not crypto.... so you do seem to be muddying some of the concepts, Tuco Benedicto Pacifico, which may also thereby lead you into reading too much into one company in the space planning to go public... Bitmain was going to do something similar, and it ended up not going through.. This coinbase situation might have some better chances, who knows..? we will see.
Agreed with bold. It is a rather big player in the space, though. Successful IPO could further tie bonds between crypto and legacy markets, adding to viewing BTC as "just another asset", competing with stocks, commodities...
BTC started this whole thing, right? I admit I have never read the whitepaper, but I have also never heard anyone talking about "this paragraph where it talks about how to convert to fiat"..
Second part of your statement about muddling concepts could also be true, though.