Should I even interview with coinbase at this point
I have an interview scheduled with Coinbase and they just announced this: https://finance.yahoo.com/news/coinbase-warns-users-could-lose-160832167.html tldr: they might go bankrupt and lose all of their users' holdings Should I even bother interviewing with them? their stock has just plummeted over 30%
Why not. They probably have decent severance for when you get laid off in 5 months
Yeah they’ll pay you out in bitcoin
nice wrapped in a wallet that no one has the key
You can check their financial statements but I am pretty sure they still have a shit ton of cash. Imo it depends on your opinion about cryptocurrency.
I think the better question would be - “is it even worth it to accept an offer from Coinbase right now?”
Hell yea Coinbase is a great company
Well as per the article it is a disclosure what they have to do due to the new rule. But still do your homework
Why not? Starting there in the current environment guarantees you you’ll be joining with the stock price nice and low. If they survive and it goes back up then plenty of upside. If it doesn’t and you get laid off by end of year due to bankruptcy it’s pretty easy to explain in an interview and you’ll probably get a decent severance from them anyway. Take the interview, it can’t hurt
The ceo explains the reason for this - https://twitter.com/brian_armstrong/status/1524233480040710144?s=21&t=mi31dBm9mTgy5jYL8kMrmA It doesn’t seem as bad as the media is making it out to be - clicks and views
Your tldr is an incredibly misleading take on the situation. They said *if* they go bankrupt, some customer crypto holdings might be at risk. They aren't sure, because it's never been tested in court. In addition, they're adding this disclosure now for regulatory reasons, and not because they have any fear of imminent bankruptcy.
Dude have you ever looked at SEC disclosures before? This shit is standard. ANY company can go bankrupt, they're just saying crypto under under custody isn't subject to banking protections and a judge could demand it be liquidated for creditors, which is a hypothetical reality they're litterally required to disclose. If they had 1 trillion dollars in the bank and a 10 dollar per year burn rate they'd still have to discuss this possibility because it's what the SEC demands
Yeah but the difference here is that just because customers crypto wallets is in their possession, it isn't Coinbase's property. If a stock broker goes bankrupt, you don't lose possession of your stocks even though they're not FDIC insured. Coinbase needs to do something to restore confidence in this or they will have a permanent lingering trust issue.
There is a few reasons for interviewing. Practice, possible offer that's great for counter offers etc. Why not?