This week, Mike & Mark begin by discussing the Coinbase Q4 earnings which saw an additional $30 million in revenue than analysts had expected. We break down the balance sheet and compare Coinbase's revenue when operating in bull & bear markets. We then move on to Coinbase's layer-2 announcement, Base. Could this signal a turning point amid crypto winter and how will this impact the crypto developer ecosystem. To hear all this and more, you'll have to tune in! -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mark: https://twitter.com/MarkYusko Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- Use code MARGIN10 to get 10% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.